Commission Split Agreement

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Commission Split Agreement

Commission Split Agreement

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

COMMISSION SPLIT AGREEMENT

This Commission Split Agreement ('Agreement') is made and entered into on this {{date_of_agreement}} day of {{month}}, {{year}}, by and between:

**Party A:** {{party_a_name}}, with its principal place of business at {{party_a_address}} (hereinafter referred to as 'Party A')

AND

**Party B:** {{party_b_name}}, with its principal place of business at {{party_b_address}} (hereinafter referred to as 'Party B')

(Collectively referred to as 'the Parties').

RECITALS

WHEREAS, Party A and Party B desire to collaborate on specific projects/sales opportunities (hereinafter referred to as 'the Project(s)') that are expected to generate commission-based income.

WHEREAS, the Parties wish to define the terms and conditions under which any commissions earned from the Project(s) will be split between them.

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the Parties agree as follows:

SCOPE OF AGREEMENT

This Agreement applies to all commissions earned from the following Project(s) or activities:

{{project_description_or_scope}}

Any additional projects or activities to be included under this Agreement must be mutually agreed upon in writing by both Parties.

COMMISSION SPLIT

The Parties agree to split any gross commissions earned from the Project(s) as follows:

Party A shall receive {{party_a_percentage}}% of the gross commission.

Party B shall receive {{party_b_percentage}}% of the gross commission.

**Example:** If a gross commission of {{example_commission_amount}} is earned, Party A will receive {{example_party_a_share}} and Party B will receive {{example_party_b_share}}.

The gross commission is defined as the total commission received from the client/source before any deductions for taxes, third-party fees, or other expenses, unless otherwise specified in writing.

PAYMENT TERMS

Commissions will be deemed earned once {{condition_for_commission_earning_e.g._client_payment_received}}.

Payment of commission shares to each Party shall be made within {{number_of_days}} days of the gross commission being received by {{party_responsible_for_receiving_commission}}.

Payments will be made via {{payment_method_e.g._bank_transfer,_cheque}} to the following bank accounts:

**Party A Bank Details:** {{party_a_bank_name}}, Account No: {{party_a_account_number}}, Branch Code: {{party_a_branch_code}}

**Party B Bank Details:** {{party_b_bank_name}}, Account No: {{party_b_account_number}}, Branch Code: {{party_b_branch_code}}

Each Party is responsible for its own tax obligations arising from the commission earned.

EXPENSES

All reasonable and approved expenses incurred in the execution of the Project(s) shall be shared as follows:

{{expense_sharing_arrangement_e.g._50/50,_based_on_contribution,_or_specify_who_covers_what}}

Alternatively, each Party shall be responsible for its own expenses unless explicitly agreed otherwise in writing. Prior written approval is required for any shared expenses exceeding {{expense_approval_limit}}.

TERM AND TERMINATION

This Agreement shall commence on {{start_date}} and shall continue until {{end_date}} or until the completion of the Project(s), unless terminated earlier as provided herein.

Either Party may terminate this Agreement by providing {{notice_period}} days' written notice to the other Party.

In the event of termination, commissions earned but not yet paid shall be subject to the terms of this Agreement. No new projects will be initiated under this Agreement after the termination date.

CONFIDENTIALITY

Both Parties agree to maintain the confidentiality of all proprietary and confidential information obtained during the course of the Project(s) and this Agreement. This includes, but is not limited to, client lists, sales strategies, and financial data.

GOVERNING LAW AND DISPUTE RESOLUTION

This Agreement shall be governed by and construed in accordance with the laws of {{country_e.g._South_Africa}}.

Any dispute arising out of or in connection with this Agreement shall first be attempted to be resolved through good faith negotiations between the Parties. If a resolution cannot be reached, the dispute shall be submitted to mediation in {{city}} and, failing that, to binding arbitration in accordance with the rules of {{arbitration_body_e.g._AFSA}}.

ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

Any amendments or modifications to this Agreement must be in writing and signed by both Parties.

SIGNATURES

IN WITNESS WHEREOF, the Parties have executed this Commission Split Agreement as of the date first written above.

_____________________________

Party A Name: {{party_a_name}}

Title: {{party_a_title}}

Date: {{signature_date}}

_____________________________

Party B Name: {{party_b_name}}

Title: {{party_b_title}}

Date: {{signature_date}}