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Finder's Fee Agreement
I need a finder's fee agreement for a consultant who will introduce potential investors to our company. The agreement should specify a 5% commission on successful investments, outline the payment terms, and include a confidentiality clause to protect sensitive information.
What is a Finder's Fee Agreement?
A Finder's Fee Agreement spells out how someone gets paid for connecting buyers and sellers or helping businesses find opportunities. Under Irish contract law, these agreements protect both the finder (often called an intermediary) and the company by clearly stating the reward for successful introductions or deals.
The agreement sets specific payment terms - usually a percentage of the deal value or a flat fee - and explains when the finder earns their commission. Irish businesses commonly use these contracts in real estate, corporate mergers, and investment deals. They need to follow Irish consumer protection rules and include key details like payment timing, confidentiality terms, and what counts as a successful introduction.
When should you use a Finder's Fee Agreement?
Use a Finder's Fee Agreement when working with intermediaries who help source business opportunities, especially in Irish property deals, corporate acquisitions, or investment partnerships. This agreement becomes essential before letting anyone start searching for potential deals or making introductions on your behalf.
Having this agreement in place protects both parties by clearly defining success metrics and compensation terms upfront. It's particularly important for Irish businesses engaging professional networkers, business brokers, or industry consultants. The agreement helps avoid disputes about who introduced what opportunity and when payment becomes due - common issues that can damage business relationships and lead to costly legal complications.
What are the different types of Finder's Fee Agreement?
- Success-Based Agreements: Calculate fees as a percentage of the final transaction value, common in property deals and business sales
- Flat-Fee Structures: Set a predetermined payment amount for successful introductions, popular in recruitment and professional services
- Tiered Commission Agreements: Offer increasing fee percentages based on deal size or multiple successful introductions
- Time-Limited Contracts: Define specific periods for finder's rights to compensation after making introductions
- Industry-Specific Agreements: Tailored to match Irish regulatory requirements in sectors like financial services, real estate, or corporate mergers
Who should typically use a Finder's Fee Agreement?
- Business Owners: Sign agreements to formalize relationships with finders who source opportunities, deals, or partnerships
- Business Brokers: Use these agreements when connecting buyers and sellers of businesses in Ireland
- Property Agents: Rely on finder's fee contracts when introducing potential buyers to commercial property deals
- Investment Intermediaries: Structure agreements to earn compensation for connecting investors with Irish businesses
- Legal Advisors: Draft and review agreements to ensure compliance with Irish contract law and industry regulations
- Corporate Finance Advisors: Set up agreements for merger and acquisition introductions
How do you write a Finder's Fee Agreement?
- Business Details: Gather full legal names and contact information for all parties involved in the finder's arrangement
- Compensation Structure: Define exact fee amounts or percentages, payment triggers, and deadlines
- Success Criteria: Specify what constitutes a successful introduction or deal completion
- Time Limits: Set clear duration for the finder's rights and any post-introduction claim periods
- Confidentiality Terms: Outline how sensitive business information will be protected during introductions
- Documentation: Plan how introductions will be recorded and verified to prevent disputes
- Legal Review: Our platform ensures your agreement includes all required elements under Irish law
What should be included in a Finder's Fee Agreement?
- Party Details: Full legal names, addresses, and registration numbers of the finder and the company
- Scope Definition: Clear description of what constitutes a qualifying introduction or opportunity
- Fee Structure: Detailed payment terms, calculation methods, and triggering events
- Duration Clause: Specific timeframes for the agreement and post-introduction rights
- Confidentiality Terms: Protection of sensitive business information shared during introductions
- Irish Law Compliance: Statement confirming Irish jurisdiction and applicable regulations
- Termination Rights: Conditions and process for ending the agreement
- Dispute Resolution: Clear procedures for handling disagreements under Irish law
What's the difference between a Finder's Fee Agreement and an Agency Agreement?
A Finder's Fee Agreement differs significantly from a Agency Agreement in several key aspects under Irish law. While both involve intermediary relationships, they serve distinct purposes and carry different legal obligations.
- Scope of Authority: Finder's Fee Agreements only cover introducing parties, with no power to negotiate or bind. Agency Agreements grant broader authority to act on behalf of the principal
- Legal Responsibilities: Finders have minimal ongoing obligations beyond making introductions. Agents must fulfill fiduciary duties and act in the principal's best interests
- Payment Structure: Finder's fees typically involve one-time payments for successful introductions. Agency agreements often include ongoing commissions or regular compensation
- Regulatory Requirements: Agency relationships face stricter regulatory oversight in Ireland, especially in regulated sectors like insurance or real estate. Finder's arrangements have fewer formal requirements
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