An Introduction Agreement is an essential contract to have in place between an introducer and supplier.
Where that introduction successfully results in the prospective customer purchasing the services of the supplier, the introducer will receive an introduction fee from the supplier.
The introducer will make introductions of prospective customers to the supplier during the term of the agreement. The supplier has a discretionary right to accept or reject such introductions made by the introducer.
Where a supplier accepts the introduction and the prospective customer enters into a contract for services with the supplier, the introducer will be rewarded with a fee as set out in the Introduction Agreement.
How that fee is calculated is subject to the commercial negotiating position of the parties. Options include a fixed introduction fee, an escalating fee depending upon volume, a percentage commission or a bonus payment.
Our Introductory Agreement Solicitors are able to offer our services assisting either the introducer or the supplier. We aid negotiations, draft agreements, provide general business legal advice and advise on any disputes under existing Introduction Agreements.