PARTNERSHIP AGREEMENT
THE PARTIES: This Agreement (“Agreement”) made on ______________________, 20____,
is between _________ with a mailing address of ______________________, City of
______________________, State of ________ (“The Company”) and ___________ with a
mailing address of ______________________, City of ______________________, State of
______________________ (“Partner”) both of whom agree as follows:
IN CONSIDERATION OF the matters described above and of the mutual benefits and
obligations set forth in this Agreement, the receipt and sufficiency of which consideration is
hereby acknowledged, the Company and the Partner (individually the “Party” and collectively
“The Parties” to this agreement) agree as follow:
TERMS
1. TERM OF AGREEMENT
The term of this agreement (the “Term”) will begin on the date on this agreement and
will remain on full force and effect until the completion of the services, subject to earlier
termination as provided in this Agreement. The Term may be extended with the written
consent of the parties.
2. AUTHORITY TO ENTER AGREEMENT
Each Party warrants that the individuals who signed this Agreement have the actual legal
power, right and authority to make this agreement and bind each respective Party.
3. DUTIES OF PARTIES
This party will handle the day-to-day operations such as cleaning, listing the units,
hosting, decorating, etc. upon approval while the other one handles the rest.
4. COMPENSATION
2
For compensation, the division ratio of any monetization income will be 60:40. The party
will receive the major cut. The commission is open for negotiation by both parties. The
other party will be responsible for all the upfront cost.
5. DISPUTE RESOLUTION
If a dispute arises, between or among the Parties in the cause of this Agreement, the
Parties shall result to litigation as mode of dispute resolution. Costs related to litigation
shall be mutually shared between or among the Parties.
6. NOTICES
All notices under this Agreement shall be in writing and sent to the address of the
recipient specified herein. Any such notice may be delivered by hand, by overnight
courier, certified mail with return receipt, or first class pre-paid letter, and will be deemed
to have been received (1) if delivered by hand – at the time of delivery; (2) if delivered by
overnight courier – 24 hours after the date of delivery to courier with evidence from the
courier; (3) if delivered by certified mail with return receipt – the date as verified on the
return receipt; (4) if delivered by first class mail – three (3) business days after the date of
mailing.
7. TERMINATION
During the course of this agreement, the parties may terminate this Agreements if there is
illegal activity, if the party is not performing or any other breach.
8. SEVERABILITY
If any term, covenant, condition, or provision of this Agreement is held by a court of
competent jurisdiction to be invalid, void, or unenforceable, the remainder of the
provisions shall remain in full force and effect and shall in no way be affected, impaired,
or invalidated.
9. FORCE MAJEURE
3
Neither party shall be liable for any failure to perform under this Agreement when such
failure is due to causes beyond that party’s reasonable control, including, but not limited
to, acts of State or governmental authorities, acts of terrorism, natural catastrophe, fire,
storm, flood, earthquakes, accident, and prolonged shortage of energy.
10. GOVERNING LAW
This Agreement shall be governed under the laws in the State of Pennsylvania.
11. AMENDMENT AND MODIFICATION
No supplement, modification or amendment of this Agreement shall be binding unless
executed in writing and signed by both parties
12. WAIVER
No waiver of any default shall constitute a waiver of any default or breach, whether of
the same or other covenant or condition. No of any service voluntarily given or
performed by a Party shall give the other Party any contractual right by contractual right
or otherwise.
IN WITNESS WHEREOF, this Agreement was signed by the parties under the hands of their
duly authorized officers and made effective as of the undersigned date.
Partner’s (1) Signature __________________________ Date ________________
Name ____________________________
Company Name
4
Partner’s (2)Signature __________________________ Date ________________
Name ____________________________
At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )