A Reciprocal Referral Agreement is essential for businesses in Malaysia looking to establish formal referral partnerships with other companies. This document is typically used when two businesses want to leverage each other's networks and client bases to generate new business opportunities in a structured and legally compliant manner. The agreement addresses key aspects such as referral processes, commission structures, confidentiality, and data protection requirements under Malaysian law. It's particularly valuable for professional services firms, financial institutions, and other businesses where client referrals form a significant part of business development strategy. The document ensures compliance with Malaysian legislation, including the Contracts Act 1950, Personal Data Protection Act 2010, and relevant industry regulations while providing clear guidelines for both parties to manage their referral relationship effectively.
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1. Parties: Identification of the parties entering into the referral agreement, including full legal names and registered addresses
2. Background: Context of the agreement and brief description of each party's business and purpose of the referral arrangement
3. Definitions: Defined terms used throughout the agreement for clarity and consistency
4. Scope of Agreement: Details of the reciprocal nature of the arrangement and types of referrals covered
5. Referral Process: Procedures for making and accepting referrals, including communication methods and timeframes
6. Compensation and Payment Terms: Structure of referral fees or commission, payment methods, and timing
7. Obligations of the Parties: Specific duties and responsibilities of each party in the referral relationship
8. Confidentiality: Protection of confidential information shared between parties and regarding referred clients
9. Data Protection: Compliance with PDPA 2010 and handling of personal data
10. Term and Termination: Duration of the agreement and circumstances for termination
11. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction for disputes
1. Non-Solicitation: Prevents parties from directly soliciting referred clients, used when there's risk of client poaching
2. Marketing and Branding: Guidelines for using each other's brands and marketing materials, included when joint marketing is planned
3. Service Level Requirements: Specific performance standards for handling referrals, used in high-volume or specialized referral relationships
4. Dispute Resolution: Alternative dispute resolution procedures, included for complex relationships or high-value referrals
5. Insurance Requirements: Specific insurance coverage requirements, included when referrals involve regulated activities or high-risk services
6. Compliance with Industry Regulations: Additional compliance requirements for specific industries, included when parties operate in regulated sectors
1. Schedule 1 - Referral Fee Structure: Detailed breakdown of commission rates, fee calculations, and payment terms
2. Schedule 2 - Referral Procedures: Step-by-step process for making and managing referrals, including forms and templates
3. Schedule 3 - Approved Services: List of services or products covered under the referral arrangement
4. Schedule 4 - Contact Information: Key contact persons and their details for each party
5. Appendix A - Referral Form Template: Standard form for making referrals
6. Appendix B - Reporting Ƶ: Ƶ for tracking and reporting referral activities
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