While it may be tempting to have a boiler platform agreement, it is always best to tailor the details for each participating sponsor to include the peculiarities. There is therefore no room for misunderstandings. The first thing you should do when you create a sponsorship contract is to consult a lawyer. This contribution is designed only as information and should not replace the advice of a lawyer. However, the basics of a sponsorship contract are often: sponsorship offers credibility and financial support for your events. A well thought-out sponsorship sales contract will provide the legal contract necessary to make both parties happy. They avoid confusion, build stronger relationships and look forward to continued support for future events. Properly crafted agreements are the glue that keeps your sponsorships together, so that both parties can participate without worry. A well-developed sponsorship contract will generally have at least the following: The Indian Contract Act of 1872 generally regulates sponsorship agreements. It defines legal obligations and obligations for both the sponsor and the organizer. It is important to define the roles and responsibilities of both parties for the event to be successful. We have already mentioned the non-competition clause, but it goes beyond exclusivity. It describes the specifics of your agreement and the exclusive rights to which a particular sponsor might be entitled on the basis of the package it has acquired.
For example, a sponsor may have the exclusive right to have their logo on stage or be the only food seller authorized to sell food at your event. The exclusivity clause defines the agreed terms that confer special rights on a particular promoter. Due to the extra exposure, exclusivity usually comes with a higher day price for sponsors. Make sure you clearly define the types of businesses your sponsor defines as a competitor so that there is no confusion about which companies you may or may not approach in the future. There are many clauses in a sponsorship agreement that take into account the requirements and feasibility of the parties. However, some standard provisions must be included in the sponsorship agreement, as they are the essential elements of the agreement. Take a look at the following: The provision is very important and should not be absent from the Treaty, as it describes how the parties would resolve a dispute that might arise during the event or in the future.