The business development agreement defines how each party, such as companies and consultants, can terminate the contract (1). For example, the consultant may terminate the contract if the client continues to provide you with the incorrect information. However, termination of the contract would affect your compensation. Therefore, take legal action to get your payments from the customer. The main purpose of this contract is to draw the attention of the parties to their rights and restrictions when concluding this contract. By reading this agreement, the advisor will understand the type of services that the client expects from their site, for which the agreement should be simple and easy to understand. If they read the agreement, the advisor will know the terms of payment on the basis of which he will try to negotiate for certain services. The agreement also defines the limits of the advisor, such as the protection of trade secrets. Under the Business Development Agreement, PlusPetro Portfolio Capital paid $17,500 per month as compensation for business development services that included investment capital acquisition, investor relationships, securities transactions, banking, business contacts, accounting, management and recruitment. In some business contract templates, they also define the length of time of conflict of interest during which the advisor cannot provide the services to other clients operating in the client`s business.
Similarly, many other concepts, such as compensation, conflict of interest, payment services, salvatorial clause, current legislation, insurance and guarantees, etc., are clearly mentioned. The persons involved in this agreement are the client who wishes to benefit from the business development services and the advisor who provides such development and consulting services. Such an advisor will provide the services after agreeing to the terms set out in the agreement by the client. These conditions include the different parameters such as the scope of the services, the type of service, the disclosure of important events, a confidentiality agreement, an exemption, a conflict of interest, payment services, guarantees and guarantees, etc. .