A basic finder`s fee agreement is an agreement between two parties where the first party (the finder) agrees to locate a person or business that requires specific goods or services, and the second party (the client) agrees to pay the finder a fee for successfully making the connection.
While finder`s fee agreements can be complex and include various conditions and terms, a simple agreement typically includes the following elements:
1. The parties involved: The agreement should identify the finder and the client, including their full names and contact information.
2. The scope of services: The agreement should specify the services that the finder will provide and the type of goods or services that the client is seeking.
3. The finder`s fee: The agreement should state the exact amount of the fee that the client will pay the finder in exchange for the successful completion of the service.
4. Duration of the agreement: The agreement should specify the duration of the agreement and when it will expire.
5. Payment terms: The agreement should outline the payment terms for the finder`s fee, including when it is due, how it will be paid, and whether any additional expenses will be reimbursed.
6. Confidentiality and non-circumvention clause: The agreement should include a confidentiality and non-circumvention clause to protect the finder from any harm or loss caused by the client`s use of the finder`s services.
Overall, a basic finder`s fee agreement is a simple and effective way to outline the terms of the arrangement between the finder and the client. It ensures that both parties are on the same page regarding the services to be provided and the compensation to be paid for those services. If you`re considering working as a finder or hiring a finder, be sure to have a basic finder`s fee agreement in place to ensure a successful transaction.