PandaTip: The text blocks in the template below allow you to insert details about your sponsorship, including the benefits you offer to the sponsor and all the items they need to provide to your team as part of the sponsorship agreement. While the packages you provide describe what a sponsor buys, a sponsorship contract offers something that is legally binding. It is really helpful to make sure that your sponsorship proposals are very clear, because it allows you to base your agreement on something more solid. If your agreements are made with the same list for each sponsor, you can secure your agreements and make sure that both parties are familiar with what is expected of them and fully understand. If the type of sponsorship purchased needs to be changed for any reason, the organizer agrees to notify the sponsor in writing. The contract will contain a number of provisions relating to the protection of the parties` existing intellectual property; The owners of the iPR resulting from the sponsorship; and the use of the other party`s intellectual property (usually name and/or logo) for the duration of the sponsorship. The last thing you want is for a sponsor to break down at the last minute. You also want to be able to move away from a sponsor if you discover something that conflicts with your ethics or brand. Therefore, make sure that your agreement can indicate how to end your relationship and what sanctions are imposed by both parties. The main details of the termination would be the amount of the termination and the cost of the termination. Sponsors generally insist on a clause explaining what is expected if your event does not bring the benefits you have announced or if an event is cancelled or if you do not meet certain benchmarks. Testimonials that offer a refund are often requested by sponsors to ensure that they get what they pay for. This is often a percentage of the funds they have paid, but depending on the severity of the problem, a full refund could include.
From the sponsor`s point of view, it will be important to terminate the sponsorship contract if the other person`s actions may damage the sponsor`s reputation. When the sponsor of the other party grants a license for the use of the sponsor`s trademarks, a formal written agreement is almost always likely to protect those trademarks.