FRUM PROFESSIONALS NETWORK Referral Partnership Agreement
This Referral Partnership Agreement (“Agreement”) is entered into as of the date indicated above by name indicated above and between: Frum Professionals Network (“FPN”) and the company listed above (“Vendor”)
1. Purpose: Vendor desires to receive client referrals through FPN. FPN agrees to refer potential clients to Vendor through its professional network, groups, and personal interactions.
2. Referral Activities: FPN may introduce Vendor to potential clients through: • Direct introductions • Sharing Vendor contact information • Mentions within FPN groups and discussions • Personal recommendations during conversations • Responding to specific requests for services FPN shall use reasonable efforts to keep Vendor in mind during ongoing daily interactions across its network.
3. Commission Structure: Vendor agrees to pay FPN 10% of all recurring revenue generated from any client referred by FPN. Commission shall apply to the lifetime of the client relationship, so long as Vendor continues to generate revenue from that client. Recurring revenue includes, but is not limited to: • Monthly retainers • Ongoing service agreements • Subscription-based services • Renewal contracts
4. Definition of Referred Client: A client shall be considered referred by FPN if: • The client was introduced directly by FPN • The client’s contact information was shared by FPN • The client originates from FPN groups or outreach • The client states that they heard about Vendor through FPN FPN may maintain a lead tracking sheet reflecting referrals made. However, commission shall apply even if a referred client does not appear on such sheet. Any prospective client introduced or identified through FPN shall be considered a referred client if that client enters into a business relationship with Vendor within twelve (12) months of the introduction or referral.
5. Payment Terms: Commission payments are due on the 1st of each month for revenue received by Vendor during the prior month from referred clients. Payments may be made via: • Zelle • ACH • Wire • Or other mutually agreed payment method Vendor agrees to act in good faith in calculating and remitting commission payments.
6. Verification of Revenue: In the event of a dispute regarding commissions owed under this Agreement, FPN may request reasonable confirmation of revenue generated from referred clients for the purpose of verifying commission calculations. Vendor agrees to cooperate in good faith in providing such confirmation.
7. Referral Practices and Exclusivity: While FPN often chooses to primarily refer a single vendor within a particular service category when appropriate, this Agreement does not grant exclusivity. FPN reserves the right to refer clients to multiple vendors offering similar or competing services when it believes doing so is in the best interest of its network.
8. Non-Circumvention: Vendor agrees not to structure, modify, or redirect business arrangements with referred clients in a manner intended to avoid payment of commissions owed to FPN under this Agreement.
9. Term and Termination: This Agreement shall remain in effect on a month-to-month basis unless terminated by either party with thirty (30) days written notice. Termination shall not eliminate Vendor’s obligation to pay commissions on any clients referred during the term of this Agreement. Commissions shall continue for the lifetime of those client relationships.
10. Failure to Pay or Report Revenue: If Vendor fails to pay commissions due for two consecutive months, FPN may immediately discontinue referring business to Vendor. Such discontinuation shall not waive FPN’s right to commissions owed on existing referred clients.
11. Independent Relationship: The parties are independent contractors. Nothing in this Agreement creates a partnership, joint venture, or employment relationship.
12. Governing Law: This Agreement shall be governed by the laws of the State of New York.
13. Entire Agreement: This document constitutes the entire agreement between the parties and may only be modified in writing signed by both parties.