A Fee Split Agreement is essential for business arrangements in India where two or more parties agree to share revenue, fees, or commissions generated from specific business activities. This document is commonly used in professional services, consulting, real estate, and various other sectors where collaborative business models are prevalent. The agreement must comply with Indian law, particularly the Indian Contract Act, 1872, and sector-specific regulations. It typically includes detailed provisions for fee calculation, payment mechanisms, tax implications, and compliance requirements. The Fee Split Agreement is particularly important in protecting all parties' interests by clearly defining the revenue-sharing structure, responsibilities, and dispute resolution procedures while ensuring alignment with Indian legal and regulatory frameworks.
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Key Requirements PROMPT example:
Fee Split Agreement
"I need a Fee Split Agreement under Indian law between my consulting firm and a partner company, with a 60-40 revenue split for all client projects, to commence from January 2025 and include strict confidentiality provisions."
1. Parties: Identifies all parties to the agreement with their full legal names, addresses, and registration details
2. Background: Explains the context of the agreement and the business relationship between the parties
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Agreement: Outlines the specific services or activities covered by the fee-splitting arrangement
5. Fee Split Structure: Details the agreed-upon split of fees, including percentages or fixed amounts
6. Payment Terms: Specifies payment timing, method, currency, and handling of expenses
7. Obligations of Parties: Lists specific responsibilities and duties of each party
8. Record Keeping and Audit Rights: Requirements for maintaining financial records and rights to audit
9. Confidentiality: Provisions for handling confidential information
10. Term and Termination: Duration of agreement and conditions for termination
11. Governing Law and Jurisdiction: Specifies Indian law as governing law and jurisdiction for disputes
12. Dispute Resolution: Process for resolving disagreements between parties
1. Non-Compete: Restrictions on competitive activities, used when parties may compete for business
2. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in long-term arrangements
3. Insurance: Insurance requirements, particularly relevant in professional services arrangements
4. Regulatory Compliance: Specific compliance requirements, necessary when dealing with regulated industries
5. Intellectual Property Rights: IP ownership and usage rights, relevant when shared work may create IP
6. Anti-Corruption Compliance: Special provisions for preventing corrupt practices, important in high-value or government-related contracts
7. Assignment and Succession: Rules for transferring rights under the agreement, important for long-term arrangements
1. Schedule A - Fee Calculation Method: Detailed breakdown of how fees are calculated and split
2. Schedule B - Payment Procedures: Step-by-step process for invoicing, payment, and reconciliation
3. Schedule C - Service Details: Detailed description of services covered under the agreement
4. Schedule D - Authorized Representatives: List of persons authorized to act on behalf of each party
5. Appendix 1 - Required Documents: List of documents required for verification and compliance
6. Appendix 2 - Reporting Format: Ƶ for regular financial reporting and reconciliation
Authors
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Consulting
Real Estate
Financial Services
Healthcare
Information Technology
Education
Recruitment
Business Services
Legal Services
Marketing and Advertising
Sales and Distribution
Insurance
Investment Advisory
Property Management
Relevant Teams
Legal
Finance
Business Development
Operations
Sales
Compliance
Partnerships
Accounts
Commercial
Risk Management
Contract Administration
Relevant Roles
Business Development Manager
Managing Partner
Chief Financial Officer
Legal Counsel
Compliance Officer
Operations Manager
Sales Director
Channel Manager
Partnership Manager
Finance Manager
Contract Administrator
Professional Service Provider
Business Owner
Consultant
Agent
Broker
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