THIS DEED OF AGREEMENT WITNESS THE TERMS AND CONDITIONS AS FOLLOWS:
- Either Party may from time to time refer potential leads to the other party by completing and delivering or directing the recipient to complete and deliver a “Referral form” either online or via email as applicable and decided upon by both the parties.
- The Recipient shall confirm to accept or decline the lead within 7 days of receiving the lead from the Referrer. The recipient shall notify the Referrer upon successful conversion of each lead.
2. REFERRAL FEE AND PAYMENT
- During the term the Recipient shall pay the Referrer a referral fee on the professional fee generated as a result of the introduction of leads by the Referrer.
- The Referral fee shall be calculated in two ways. Either the fee will be at a rate of 20% of the professional fee for each successful lead conversion. The second option is the Referrer can add a margin on the professional fee.
- The Recipient shall submit to the Referrer on a monthly basis, a calculation of the amount payable by them for the Customers referred by the Referrer under this Agreement.
- The Recipient shall pay the Referrer the accrued referral fee as and when the assignment is completed.
3. COMMENCEMENT & TERMINATION
The Agreement shall commence as on the effective date and shall continue till the work is completed / or unless terminated by both the parties. Either party shall have the right to terminate the agreement at any time by giving thirty (30) days’ notice to the other party.
- Information disclosed by the Referrer relating to any prospective lead will be deemed confidential. The Recipient shall not disclose any information to any third party without the consent of the Referrer or the lead (once it has been successfully converted) unless required to do so by law.
- Neither party shall disclose to any third party (except for the purpose of enabling the performance of its obligations under this Agreement), whether during the continuance of this Agreement or thereafter, any terms and conditions contained which it may have acquired during the negotiation, preparation and continuance of this Agreement or any information concerning each other’s business or operations which it may have acquired during the negotiation, preparation and continuance of this Agreement or thereafter, or in connection with the transactions contemplated hereby, unless where it is required to do so by any applicable law or competent authority.
- Both the parties hereby irrevocably agrees that during the term of this Agreement and one year thereafter, it shall not entice or solicit or endeavor to entice or solicit or endeavor to entice away any Client referred to it by each other, in any jurisdiction in which the Client is serviced by the Recipient, save for the purposes of the client relationship created as a consequence of this agreement.
- Parties hereby covenant to each other, for the duration of this Agreement that they shall maintain up-to-date customer data retention policies and processes in accordance with applicable laws.
The relationship between the parties shall at all times be that of independent associates. No employment, partnership or joint venture relationship is formed by this referral agreement and will have no power or authority to assume or create any obligation on behalf of each other. In view of this independent relationship the Referrer or Recipient shall not enter into any agreements on behalf of the each other and shall make no warranty either expressed or implied nor incur any expenses.
6. ENTIRE ARGEEMENT
This Agreement constitutes the entire agreement between the parties with respect to this subject matter and supersedes all previous proposals, both oral and written, negotiations, representations, commitments, writings and all other communications among the parties. This Agreement may not be released, discharged or modified except by an instrument in writing signed by the parties.
7. GOVERNING LAW
- This agreement shall be governed and construed in accordance with the laws of UAE.
- Any controversies, differences or disputes arising out of or in connection with this agreement shall be resolved amicably between the authorized representatives of both the parties failing which such dispute shall be referred to exclusive jurisdiction of the courts of Dubai.