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Referral Fee Agreement
"I need a Referral Fee Agreement under Nigerian law for my real estate agency to pay 5% commission to independent property consultants who refer successful property buyers, starting from March 2025, with quarterly payments and basic compliance provisions."
1. Parties: Identifies and provides full details of the referring party and the recipient party
2. Background: Explains the context of the agreement and the parties' intention to enter into a referral arrangement
3. Definitions: Defines key terms used throughout the agreement including 'Referral', 'Referral Fee', 'Successful Referral', etc.
4. Referral Arrangement: Details the scope and nature of referrals, including the process for making and accepting referrals
5. Referral Fees: Specifies the fee structure, calculation method, and payment terms for successful referrals
6. Payment Terms: Outlines payment timing, method, currency, and any conditions precedent to payment
7. Obligations of the Parties: Lists the specific duties and responsibilities of both the referring party and recipient
8. Term and Termination: Specifies the duration of the agreement and circumstances for termination
9. Confidentiality: Addresses the handling of confidential information shared between parties
10. Compliance with Laws: Ensures compliance with Nigerian laws, including anti-corruption and money laundering regulations
11. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and sets jurisdiction for dispute resolution
12. General Provisions: Standard boilerplate clauses including notices, amendments, and entire agreement
1. Non-Solicitation: Prevents parties from directly soliciting each other's clients or employees - include when parties are competitors
2. Exclusivity: Establishes whether the referral arrangement is exclusive - include when parties want exclusive rights
3. Intellectual Property: Addresses use of trademarks and branding in referral activities - include when marketing materials are involved
4. Data Protection: Detailed provisions for handling personal data - include when referrals involve sharing personal information
5. Training and Support: Outlines any training or support provided for the referral program - include for complex service offerings
6. Audit Rights: Allows for audit of referral records - include for high-value or volume-based arrangements
7. Insurance: Specifies required insurance coverage - include for high-risk or regulated industries
8. Force Majeure: Addresses unforeseen circumstances preventing performance - include for long-term arrangements
1. Schedule 1 - Fee Structure: Detailed breakdown of referral fee calculations, tiers, and any bonus structures
2. Schedule 2 - Referral Process: Step-by-step process for making and tracking referrals, including any forms or systems to be used
3. Schedule 3 - Approved Marketing Materials: Templates or guidelines for marketing materials used in referral activities
4. Schedule 4 - Compliance Requirements: Specific compliance procedures and checklists required under Nigerian law
5. Schedule 5 - Reporting Templates: Standard formats for tracking and reporting referrals and calculating fees
Authors
Financial Services
Professional Services
Real Estate
Technology
Healthcare
Education
Insurance
Consulting
Legal Services
Banking
Marketing and Advertising
Telecommunications
Property Development
Investment Management
Legal
Business Development
Sales
Compliance
Commercial
Operations
Marketing
Finance
Partner Relations
Account Management
Risk Management
Business Development Manager
Sales Director
Chief Commercial Officer
Partnership Manager
Legal Counsel
Compliance Officer
Managing Director
Chief Executive Officer
Channel Sales Manager
Marketing Director
Account Manager
Business Broker
Relationship Manager
Operations Manager
Commercial Director
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