Frequently Asked Questions

What are the key elements to include in a sales partner agreement?

A sales partner agreement is a crucial document that establishes a relationship between an organization and its independent sales force. It outlines the nature of the relationship, responsibilities, and expectations of both parties. The key elements to include in a sales partner agreement are: 1. Identification of Parties: The agreement should clearly state the parties involved. This includes the organization and the sales partner. 2. Responsibilities and Expectations: The agreement should outline the responsibilities and expectations of both the organization and the sales partner. This includes expected sales goals, expenses the partner expects to have without reimbursement, customer qualifications, a policy on how customers are charged, and all services rendered. 3. Compensation Plan: The agreement should detail all compensation timelines and structures. This includes revenue sharing, commission, timelines for payment remittance, and fee arrangements. 4. Terms of Engagement: The agreement should specify the terms of engagement, including agreement termination procedures. 5. Authority: The agreement should specify the authority of the sales partner and define instances when the partner needs to consult the organization before taking action. 6. Sales Support Services: The agreement should also detail any sales support services the company provides, such as providing samples of products or sales literature.