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Referral Agreement And Commission Agreement

Referral Agreement And Commission Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Referral Agreement And Commission Agreement

"I need a Referral Agreement and Commission Agreement under Hong Kong law for my fintech company to engage independent financial advisors who will refer customers to our digital payment platform, with a tiered commission structure starting from March 2025."

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Document background
The Referral Agreement and Commission Agreement is essential for businesses operating in Hong Kong that wish to formalize their referral relationships and commission structures. This document is typically used when one party (the referrer) agrees to introduce potential clients or business opportunities to another party (the recipient) in exchange for commission payments. The agreement includes crucial elements such as the scope of referral services, commission calculations, payment terms, compliance requirements, and obligations of both parties. It is particularly important in Hong Kong's business environment where networking and referrals play a significant role in business development, while ensuring compliance with local regulations including the Prevention of Bribery Ordinance and Personal Data (Privacy) Ordinance. The agreement can be customized for various industries and scales of operation, from individual referrers to large corporate arrangements.
Suggested Sections

1. Parties: Identifies and defines the parties to the agreement - typically the referrer, the recipient of referrals, and any guarantors

2. Background: Sets out the context of the agreement and the parties' intentions regarding the referral arrangement

3. Definitions: Defines key terms used throughout the agreement, including 'Referral', 'Commission', 'Qualified Lead', etc.

4. Appointment and Scope: Establishes the referral relationship and defines its scope, including any territorial or industry limitations

5. Referral Process: Details the specific process for making and accepting referrals, including any qualification criteria

6. Commission Structure: Specifies the commission rates, calculation methods, and payment terms

7. Payment Terms: Outlines when and how commission payments will be made, including any minimum thresholds

8. Obligations of the Referrer: Lists the referrer's duties, including quality standards and compliance requirements

9. Obligations of the Company: Details the company's responsibilities in handling referrals and making payments

10. Confidentiality: Protects confidential information exchanged during the referral process

11. Term and Termination: Specifies the duration of the agreement and circumstances for termination

12. General Provisions: Standard contract clauses including governing law, notices, and entire agreement

Optional Sections

1. Non-Compete: Restricts the referrer from engaging in competing activities - include when protecting market position is crucial

2. Non-Solicitation: Prevents poaching of referred clients or employees - relevant for high-value relationships

3. Intellectual Property: Protects IP rights when referral involves branded materials or proprietary information

4. Data Protection: Additional privacy obligations when handling personal data - essential when dealing with individual referrals

5. Training and Support: Details any training or support provided to referrers - include for complex products/services

6. Performance Targets: Sets minimum referral targets - include when specific performance levels are required

7. Audit Rights: Allows audit of referral records - important for high-value or volume-based arrangements

8. Insurance: Specifies required insurance coverage - relevant for regulated industries or high-risk activities

Suggested Schedules

1. Commission Rates Schedule: Detailed breakdown of commission rates for different products/services or tiers

2. Referral Process Flowchart: Visual representation of the referral process and approval workflow

3. Required Information Form: Template for submitting referral information

4. Territories Schedule: List of approved geographical territories for referral activities

5. Approved Products/Services: Comprehensive list of products/services eligible for referral

6. Reporting Templates: Standard forms for tracking and reporting referral activities

7. Compliance Requirements: Specific regulatory or compliance requirements applicable to the referral relationship

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Applicable Laws
Business Day
Commission
Commission Period
Confidential Information
Effective Date
Force Majeure Event
Group Company
Intellectual Property Rights
Minimum Commission Threshold
Personal Data
Qualified Lead
Qualified Referral
Referral
Referral Fee
Referral Information
Referral Period
Referral Process
Referral Services
Referred Client
Referring Party
Recipient
Successful Referral
Term
Territory
Trademarks
Valid Claim
Working Hours
Commission Rate
Payment Date
Products
Services
Affiliate
Authorized Representative
Commission Statement
Competing Business
Dispute
Material Breach
Regulatory Requirements
Clauses
Interpretation
Appointment
Exclusivity
Scope of Services
Referral Process
Commission Structure
Payment Terms
Obligations
Representations and Warranties
Confidentiality
Data Protection
Intellectual Property
Non-Compete
Non-Solicitation
Term and Duration
Termination
Force Majeure
Indemnification
Limitation of Liability
Insurance
Compliance with Laws
Anti-Bribery
Record Keeping
Audit Rights
Assignment
Variation
Notices
Severability
Entire Agreement
Waiver
Third Party Rights
Governing Law
Dispute Resolution
Counterparts
Relevant Industries

Financial Services

Professional Services

Real Estate

Insurance

Technology

Consulting

Banking

Wealth Management

Healthcare

Education

Telecommunications

Business Services

Recruitment

Relevant Teams

Legal

Compliance

Business Development

Sales

Finance

Operations

Commercial

Partnerships

Marketing

Account Management

Risk Management

Relevant Roles

Business Development Manager

Sales Director

Channel Partner Manager

Chief Commercial Officer

Partnership Manager

Legal Counsel

Compliance Officer

Finance Manager

Operations Director

Marketing Manager

Account Manager

Relationship Manager

Business Partner Manager

Chief Executive Officer

Commercial Director

Industries
Contract Ordinance (Cap. 26): Governs the formation, validity, and enforcement of contracts in Hong Kong, ensuring the referral agreement meets basic contractual requirements
Personal Data (Privacy) Ordinance (Cap. 486): Regulates the collection, handling, and protection of personal data in referral relationships
Prevention of Bribery Ordinance (Cap. 201): Ensures referral and commission arrangements are legitimate and not construed as improper payments or advantages
Inland Revenue Ordinance (Cap. 112): Governs taxation of commission income and referral fees in Hong Kong
Agency Law under Common Law: Establishes principles governing agency relationships, including duties and obligations between principal and agent
Employment Ordinance (Cap. 57): May be relevant if the referral relationship could be interpreted as creating an employment relationship
Control of Exemption Clauses Ordinance (Cap. 71): Regulates the use of exemption clauses in contracts, ensuring fairness in liability limitations
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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