Learn the basics of writing partnership agreements with this fundraising fact sheet, which provides guidance and a sample agreement to illustrate what your agreement should cover.
Making a formal partnership agreement
Having secured sponsorship from a company, it is necessary to confirm the partnership details in writing to protect both parties in the event of unforseen circumstances and to be crystal clear about what each expects from the other.
An agreement can be a letter or a formal contract. The example provided in this fact sheet provides some general guidance. However, it is a good idea to seek professional advice, especially where large sums of money are involved.
An agreement does not need to be a complex legal document but it does need to set out expectations, roles and responsibilities for all concerned.
What is a partnership agreement?
It needs to include the following key points:
- A concise description of the project, including aims and objectives of both partners
- A project specification including key personnel, resources and dates
- A timeline for all elements of the partnership such as print work (including drafting, proofing, approving and printing), hospitality arrangements, guest lists, ticket distribution etc.
- A budget and payment schedule, including method of payment and date(s) when payments fall due
- A clear description of the benefits which the arts organisation is providing
- Any restrictions on the partnership
- Information on record keeping requirements
- Arrangements for cancellation or postponement
- A mechanism for dealing with any dispute which may arise
Download the guide to read more:
Writing a sponsorship partnership agreement (PDF)