BETWEEN: ___________________________________ (Sponsor)
TERMS OF AGREEMENT:
1. The sponsee agrees to grant the sponsor the following sponsorship
2. It is agreed that at the time of renegotiation, the sponsee will
automatically invite the sponsor to renegotiate the agreement.
3. The sponsorship will be for the period of ______________________ to
4. The sponsor agrees to provide:
5. The sponsee agrees to provide the sponsor in the form of
6. In the event of a dispute arising that the parties themselves cannot
resolve, the parties agree to refer the matter to an independent
arbitrator appointed by mutual agreement.
7. If the parties cannot agree on an arbitrator, or both parties do not agree
with the decision of the arbitrator appointed, the agreement may be
terminated in the following manner:
a) If the breach is one that can be rectified, then the non-breaching
party can request in writing that the breach be rectified in 14
days. If the breach is not rectified within that time, the non-
breaching party may terminate the Agreement immediately;
b) If the breach is one that cannot be rectified, the non-breaching
party may terminate the Agreement by giving 14 days’ written
notice of their intention to terminate.
c) If either party goes into liquidation, is wound up, dissolved
(except for the purpose of reconstruction or amalgamation),
enters into a scheme of arrangement or is placed under official
management or in receivership, the other party may terminate
the Agreement by giving 14 days’ written notice of their intention
to terminate under the clause.
d) In the event of a termination under this Agreement, each party’s
rights and liabilities will cease immediately but the termination
shall not affect a party’s rights arising out of a breach of this
agreement by the other party.