When it comes to establishing retail partnerships, clear and comprehensive agreements are an essential component. By creating a partnership agreement, both parties can outline their expectations, responsibilities, and obligations in a legally binding document. While every retail partnership agreement will vary depending on the type of partnership and parties involved, a sample agreement can provide a helpful starting point.
Below is a sample retail partnership agreement that can be used as a template or guide:
PARTNERSHIP AGREEMENT
This Partnership Agreement (the “Agreement”) is made and entered into as of the [Date] (the “Effective Date”), by and between [Retailer Name], a [State] corporation with its principal place of business at [Retailer Address] (“Retailer”) and [Partner Name], a [State] corporation with its principal place of business at [Partner Address] (“Partner”).
RECITALS
WHEREAS, Retailer and Partner desire to enter into a partnership agreement to promote and sell [Product/Service] (“Product”) in [Location];
WHEREAS, Retailer has the authority to sell the Product and Partner has the authority to market the Product;
WHEREAS, Retailer and Partner desire to set forth the terms and conditions under which the Product will be marketed and sold; and
WHEREAS, Retailer and Partner desire to establish a mutually beneficial business relationship.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties agree as follows:
1. Description of Partnership
a. Retailer grants Partner a non-exclusive license to market and sell the Product in [Location].
b. Partner agrees to market and advertise the Product in accordance with the terms set forth in this Agreement.
c. Retailer agrees to provide Partner with all necessary marketing materials, including product images, descriptions, and other promotional materials.
2. Term of Partnership
The term of the partnership shall commence on the Effective Date and continue until terminated by either party upon thirty (30) days written notice.
3. Compensation
a. Partner shall receive [Percentage]% commission on the gross sales price for each sale of the Product made by Partner.
b. Retailer shall pay Partner the commission within [Number] days of the end of each calendar month.
4. Obligations of Partner
a. Partner agrees to promote and market the Product in a professional and ethical manner.
b. Partner agrees to comply with all applicable laws and regulations.
c. Partner agrees to provide Retailer with access to all sales and marketing data related to the Product sold by Partner.
d. Partner agrees to indemnify and hold harmless Retailer from any claims, damages or expenses resulting from Partner’s acts or omissions.
5. Obligations of Retailer
a. Retailer agrees to provide Partner with all necessary marketing materials.
b. Retailer agrees to fulfill all orders for the Product received from Partner within [Number] business days of receipt.
c. Retailer agrees to provide Partner with access to all sales and marketing data related to the Product sold by Retailer.
6. Termination
Either party may terminate this Agreement upon written notice to the other party. Upon termination, all obligations and duties of the parties under this Agreement shall cease, except as otherwise provided herein.
7. Confidentiality
Both parties agree to keep confidential all confidential information pertaining to the other party.
8. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State]. Any disputes arising out of or relating to this Agreement shall be resolved in accordance with the laws of the State of [State].
9. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior and contemporaneous agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
[Partner Name]
By: ____________________
Title: ___________________
[Retailer Name]
By: ____________________
Title: ___________________
While this sample partnership agreement covers some of the most crucial components of a successful partnership, it is recommended that both parties consult with legal professionals to ensure that all applicable laws and regulations are followed and that the agreement meets their specific needs. By establishing a clear and comprehensive agreement, both parties can work towards a mutually beneficial relationship.