Commission Agreement – origination of opportunity

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Commission Agreement - Origination of Opportunity

Summary

The Commission Agreement records an agreement whereby one person receives a commission for introducing an opportunity to another person.

Detail

Who should use this Commission Agreement?

Where one person introduces an opportunity to another person, who will be following up on and benefiting from the opportunity, then this Lead Commission Agreement can be used to record the agreement between the parties. This could include the origination of an idea or concept, or the facilitation of a business association with another party.
Note that this Commission Agreement is intended for use for a specific, once-off referral of an opportunity, as opposed to recurring commissions earned for the ongoing referral of leads. For an ongoing lead Commission Agreement, refer to the One-Way or Reciprocal Commission Agreements.

What does the Commission Agreement say?

The Agreement:

Generally defines the roles of both the person identifying the opportunity, and the person benefitting from the opportunity
Provides for protection of confidential information
Sets out the termination of the contract
Sets out the commission calculation in respect of the opportunity.

What does the Commission Agreement look like?

The agreement can be printed onto two A4 pages

What do you need to do to use the Commission Agreement?

Read the document to ensure that it suits your requirements. Make changes as required.
Briefly state the nature of the services provided by the Associate in clause 2.1
Describe the opportunity in clause 2.2
Complete both parties’ details (names and addresses) in clause 1, with the person receiving the opportunity as the Associate, and the person introducing the opportunity as the Originator
Complete the commission structure in clause 6
Get both parties to sign the document.

Also known as: