Sponsorship agreements must include the following clauses:
The contract will contain a comprehensive description of the item, project or event around which the sponsorship alliance is constructed, including a list of obligations for both parties. Obligations of the parties in market research or sponsorship analysis will be explicitly itemized in the contract.
Terms of Agreement: The dates for commencement and conclusion of sponsorship alliances must be included in the contract. All sponsorships should have a defined term with end date, at which time renewal of the sponsorship may be sought.
Signing Authority: One or more of the following must sign all contracts or agreements; the President of the university or the President’s designate; the Vice President Finance and Administration.
Key Personnel: The contract will include the names of the individuals from both parties primarily responsible for the sponsorship, and to whom issues regarding the contract are to be referred.
Limitations on and Approval of the Use of the University of the FNUniv: The following clause limits the use of the University’s name by the sponsor in its own internal and external promotion and advertising as per the negotiated arrangements: “Neither party, in any situation, whether within or outside the parameters of the sponsorship, shall be deemed to be the spokesperson for, or the representatives, of the other party.”
Exclusivity: The University may wish to offer outright or industry exclusivity to a sponsor or the sponsor may request such exclusivity within the sponsorship alliance. Where relevant, the following statement regarding exclusivity will be included in the contract: “FNUniv agrees that (name of sponsor) shall be the sole and exclusive sponsor of (name of initiative) for the term of this agreement.”
Financial Terms and Schedule of Payments: The total value and the payment schedule of the sponsorship agreement between the parties will be clearly identified in the contract.
Obligations of the Parties to Each Other: The obligations of the parties are dependent upon the form of the alliance and will be determined on an individual basis. Responsibility for any market research or program or evaluation duties, reporting, and approvals will be specified in the contract, along with specific criteria and methodologies for the evaluation of the sponsorship.
Breach of Contract: Prior to initiating formal notification of breach of contract, the parties will undertake all appropriate and reasonable efforts to resolve the matter. Should these efforts not prove successful, either party may notify the other of breach of contract in writing, sent by mail or courier, return receipt requested. Such notification will request a written response by a specific date. Noncompliance will constitute cause for dissolution of the contract.
Right to Discontinue the Sponsored Program or Event: When circumstances beyond the control of FNUniv force the cancellation or substitution of a sponsored event or project, FNUniv reserves the right to cancel without finding itself financially liable or in breach of contract.
Sponsorship Recognition: FNUniv endorses a formal recognition program for sponsors, which is distinct from the marketing benefits connected with specific event sponsorships and which is also distinct from other University Donor Recognition Programs