Be sure to include a statement that the agreement is the whole agreement and that oral statements are not included to avoid potential challenges in the event of a dispute. If you change the sponsorship agreement at any time, be sure to change the contract. Your lawyer can give you advice on how best to change the contract if something changes. When creating a sponsorship contract, it is imperative to consult a lawyer. This contribution is designed only as information and is not designed as legal advice or substitute to advise a lawyer. In order to ensure that the needs of both parties are met, a sponsorship agreement is established in the form of a contract specifying the details that each party accepts. 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. 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. Together, you encourage your organization, cause, event or right name opportunity, gain more attention and expand your reach. Their sponsors have access to a captive audience that reflects their main targets. It is a situation of profit, of profit, as long as the right partners are selected and the good conditions of the sponsorship contract are respected. Since a sponsorship relationship requires an investment, they are expected to have the opportunity to improve their image, promote their products and use your customer relationships to take their brand. Therefore, a professional sponsorship contract is a must when creating a sponsorship contract. Here are five things you should include in your sponsorship agreement to ensure that both parties are protected and expectations are met. Participation often varies greatly from one sponsor to another, from a company that simply supplies products to a venue, to a sponsor who, with keynote speaker, entertainment or catering, offers a large sit-down dinner until the designation of an establishment, program or event.