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Split Fee Agreement
"I need a Split Fee Agreement for my UAE-based recruitment agency to share placement fees with an international executive search firm, with a 60-40 split arrangement and specific provisions for cross-border payments."
1. Parties: Identification of all parties to the agreement, including full legal names, addresses, and registration details
2. Background: Context of the agreement, relationship between parties, and purpose of the fee-sharing arrangement
3. Definitions: Key terms used throughout the agreement, including specific service definitions, fee types, and payment-related terminology
4. Scope of Services: Detailed description of services provided by each party that give rise to the fee-sharing arrangement
5. Fee Structure: Clear explanation of how fees are calculated, split percentages, and basis for fee sharing
6. Payment Terms: Timing of payments, payment methods, currency, and handling of tax obligations
7. Obligations of the Parties: Specific responsibilities of each party in relation to service delivery and fee collection
8. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
9. Confidentiality: Protection of confidential information shared between parties
10. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for dispute resolution
1. Non-Compete: Restrictions on parties engaging in competing arrangements, used when protecting business relationships is crucial
2. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in long-term arrangements
3. Anti-Money Laundering Compliance: Specific provisions for AML compliance, necessary when dealing with significant financial transactions
4. Intellectual Property: Protection of IP rights, relevant when services involve creation or use of intellectual property
5. Data Protection: Provisions for handling personal or sensitive data, necessary when arrangement involves data sharing
6. Insurance Requirements: Specific insurance obligations, important for high-value or high-risk services
7. Assignment and Subcontracting: Rules for transferring rights or obligations, useful in complex business relationships
1. Fee Calculation Schedule: Detailed methodology for calculating fees and splits, including examples and formulas
2. Service Level Agreement: Specific performance metrics and service standards expected from each party
3. Approved Client List: List of clients or transactions covered by the fee-sharing arrangement, if applicable
4. Payment Procedures: Detailed procedures for invoicing, payment processing, and reconciliation
5. Compliance Requirements: Specific regulatory or compliance requirements applicable to the arrangement
6. Contact Details: Key contact persons and escalation matrix for each party
Authors
Professional Services
Recruitment
Real Estate
Financial Services
Management Consulting
Business Advisory
Investment Banking
Commercial Brokerage
Legal Services
Property Development
Legal
Finance
Business Development
Compliance
Operations
Commercial
Partnerships
Risk Management
Account Management
Business Advisory
Managing Director
Business Development Manager
Recruitment Consultant
Legal Counsel
Finance Director
Commercial Director
Compliance Officer
Operations Manager
Partnership Manager
Account Director
Business Consultant
Real Estate Agent
Financial Advisor
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