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What is a sponsorship agreement template?

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Quick Answer

A sponsorship agreement template is a document that gives an outline of how a sponsorship agreement should be formatted and the information that should be contained therein. A sponsorship agreement usually involves the sponsor and the sponsored, notes PRHelper.com.

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Full Answer

A sponsorship agreement template contains details regarding the nature of the agreement and how both parties are going to fulfill their respective duties. The document has a section that stipulates the rights of each party in the agreement and the dates through which they are working together.

Sponsorship agreements are developed in order to support a charity, sporting event or advertisement, states Entreprenuer.com. The sponsor is usually responsible or providing the funds that may be required to achieve a given goal. The government, non-governmental organizations and corporate companies are often the sponsors in major events.

Sponsorship agreements must be signed by both parties in order for them to be binding. The sponsor usually agrees to provide funds as long as the sponsored remains faithful to terms and conditions stated in the agreement. The template may have a section stating the amount of money the sponsor is giving to the sponsored and how the money is to be paid. Sponsors usually benefit by gaining publicity while the sponsored gets the amount required to fulfill a goal.

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