Introducer Agreement for Business Referrals
Introducer Agreement for Business Referrals
The agreement outlines that if the Client fails to make a payment on time, the Introducer is entitled to charge interest on the overdue amount. This interest accrues daily, is compounded monthly, and is set at a specific percentage per annum, which remains undefined in the extract. Additionally, the Introducer has the right to file an 'Unpaid Invoice' dispute on the website www.disputesregister.org, which provides a formal avenue to address and potentially escalate the issue .
The engagement period specified in the agreement begins on a predetermined start date and ends upon a specified end date unless terminated earlier by either party. Termination can occur by providing 30 days' notice to the other party, offering flexibility within the contractual relationship .
The agreement specifies that the Introducer is entitled to an Introductory Commission if, within 12 months of an Introduction, an Introduced Client engages the Client for its services. The commission is calculated as a percentage of the VAT-exclusive amount of the first year’s fees invoiced by the Engaged Party for those services. This commission becomes due on the date the Engaged Party issues an invoice for the services provided under the Introduction or relevant transaction .
An 'Introduction' is defined as the referral or introduction to the Client of a person by the Introducer. It carries implications for both parties, as successful Introductions leading to engagements establish the basis for the Introducer to earn an Introductory Commission. This definition underlines a critical point of collaboration, ensuring that both parties work towards mutual business development goals .
The agreement is governed by the laws of England and Wales, and it assigns exclusive jurisdiction to the courts of England to handle any disputes arising from the contract .
Confidential Information, as per the agreement, is to be received and maintained in confidence by both parties, and it should not be used for purposes outside the agreement's scope without written permission from the Disclosing Party. Disclosure is only permitted to the party's employees, officers, representatives, or advisers who need the information to fulfill the agreement's obligations, and these individuals must comply with confidentiality norms. Disclosure could also be required by law or a court order, which is exempt from typical confidentiality restrictions .
Confidentiality obligations in the agreement can be lawfully bypassed under circumstances mandated by law, a court of competent jurisdiction, or any governmental department's requirement. This provision allows parties to comply with external legal obligations without breaching the confidentiality agreement, ensuring that the contract does not hinder lawful operations .
Both parties must ensure prompt raising of invoices pertaining to fees eligible for commission payments. A copy of each invoice should be provided to the other party within seven days of its issuance. This requirement ensures transparent and timely communication, supporting the smooth processing of commission payments .
The agreement employs language that inclusively accounts for gender and number variations. Any use of the singular includes the plural and vice versa, and any mention of a specific gender applies to all genders. Furthermore, the term 'persons' extends to various entities, thereby ensuring comprehensive inclusivity in interpretative scenarios .
Clause headings within the agreement are included for convenience and do not influence its interpretation. They are intended to compartmentalize information for easier reference but must not be used as a basis for understanding the contractual terms or obligations prescribed in the document .