Terms & Conditions for Partner Referral Program
This Partner Referral Agreement (the “Agreement”) is made and entered into as of [Date], by and between NVOY Technologies Ltd, a company incorporated in England with company registration number 11288194 and whose registered office address is 30 Crown Place, Earl Street, London, EC2A 4EB (“NVOY”, “we”, “us”, “our”), and [Referring Party Name] (“Referring Party”).
1. Referral Commission: NVOY agrees to pay a referral commission equal to 5% of Annual Contract Value (ACV) to a Referring Party with a ‘Referral Partner’ status and commission equal to 10% of Annual Contract Value (ACV) to a Referring Party with a with a ‘Strategic Partner’ status for each lead referred by the Referring Party that results in a signed managed IT services contract.
2. Payment Terms: NVOY will pay the referral commission to the Referring Party within 45 days of the Effective Date of the contract. Payment will be made via an electronic payment method agreed by both party’s.
3. Successful Transaction: A successful transaction is defined as a Managed Services Agreement (MSA) contract being signed by the end customer for a minimum 12-month commitment with NVOY resulting from the lead referred by the Referring Party.
The transaction must be closed, and NVOY must have received payment of the first monthly service fee from the end customer for the referral commission to be eligible.
4. Obligations of Referring Party: Referring Party agrees to provide accurate and complete information about the leads referred to NVOY, this includes and is not limited to name, contact details and an introductory meeting, phone call, group text message and/or email. Referring Party also acknowledges that they have obtained the necessary consent from the referred parties to share their contact information with NVOY for the purpose of real estate transactions.
5. Successful Referral A successful referral is defined as one where the referral has not been referred to NVOY by any other source. NVOY will confirm successful referral in writing to Referring Party following the introduction.
6. Partner Status:
Referring Party will be assigned a Partner Status that will determine the percentage of commission paid on the Annual Contract Value (ACV). The two level of Partner Status are ‘Referral Partner’ and ‘Strategic Partner’ and NVOY reserves the right to allocate and update a Referring Party’s Partner Status based on performance.
7. Exclusivity: This Agreement does not grant Referring Party exclusivity in referring leads to NVOY. NVOY reserves the right to work with other referral partners and pursue leads independently without any obligation to Referring Party.
8. Termination: Either party may terminate this Agreement with written notice to the other party. Upon termination, any pending referral commissions will be paid to Referring Party according to the terms of this Agreement.
9. All Rights Reserved
NVOY reserves the right to refuse any applicant or application without explanation or notification.
IN WITNESS WHEREOF, the parties hereto have executed this Partner Referral Agreement as of the Effective Date.
