Sponsorship agreements are contracts by which companies or individuals agree to offer financial support or sponsorship to other people or organizations for a specific purpose. Sponsors can be needed for different reasons — sportspersons require sponsorships to buy sporting gear and take part in competitions, travel etc, non-profit organizations may be sponsored for organizing programs or events, a TV show may be sponsored by certain companies and so on. Sponsorship agreements must mention the names of the parties involved, the amount of payment to be made and whether they will be paid in lump sum or periodically.
The term of the sponsorship agreement and the date of signing the contract must be mentioned clearly. These agreements are mutually beneficial for both the parties as one receives financial help while the other gets the necessary publicity which will increase brand visibility and help boost sales. The various terms and conditions also help to protect the rights and interests of both parties.
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Sample Sponsorship Agreement
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