B2B Referral Commission - Terms & Conditions

Business-to-Business Referral Commission Agreement

Effective Date: as per the date entered into the signed and dated quote secured as part of the confirmation of this Agreement

This Referral Commission Agreement ("Agreement") is entered into by and between:

Referring Party: as specified in the signed quote that confirms the details of this agreement

Receiving Party: Hatching Dragons Ltd and its affiliates and subsidiaries, registered company number 08847709, registered office 122 Winchcombe Street, Cheltenham, England, GL52 2NW, Email: finance@hatching-dragons.com Phone: +44 330 818 0387

WHEREAS, the Referring Party has the ability to refer potential clients to the Receiving Party for its products or services; and

WHEREAS, the Receiving Party desires to compensate the Referring Party for successful client referrals, subject to the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration of the premises and covenants contained herein, the parties hereto agree as follows:

1. Referral Commission

The Receiving Party agrees to pay the Referring Party a referral commission for each referred client who engages in a business relationship with the Receiving Party, under the following terms:

1.1. The referral commission shall be equal to 10% of the total gross revenue generated by the referred client for the Receiving Party over a trading 3 month period.

1.2. The referral commission shall be payable to the Referring Party in equal installments over a period of 3 months from the date when the referred client's payment is received by the Receiving Party.

1.3 The referral commission will only be paid out for those clients who have signed up and contracted with the Receiving Party. 

1.4 The Commission will be payable over a 3 month period, or for as long as the referred client remains with the Receiving Party, whichever is the shorter.

2. Referral Process

2.1. The Referring Party shall refer potential clients to the Receiving Party by providing the Receiving Party with the necessary contact information and relevant details of the potential client. The Receiving Party will provide

• A poster and flyers with key information on the provision and QR code 
• A dedicated landing page for the Referring Party with a dedicated enquiry form to measure and track all contacts generated by their activities
• Monthly updates on contacts and deals generated (redacted for GDPR)

2.2. The Receiving Party shall make all reasonable efforts to convert the referred leads into clients. The Receiving Party retains the sole discretion to accept or reject any referred client.

3. Payment

3.1. Referral commission payments shall be made via bank transfer to the Referring Party's designated bank account or payment method within 15 days of the end of each month during the 3-month commission payment period.

3.2. The Receiving Party shall provide the Referring Party with a statement showing the calculation of the commission payable, including a breakdown of the referred client's gross revenue.

4. Termination

Either party may terminate this Agreement upon written notice to the other party. Upon termination, no further referral commissions shall be payable for referrals made after the effective date of termination.

5. Confidentiality

Both parties agree to maintain the confidentiality of any client information shared during the referral process and not to disclose such information to third parties without the client's consent.

6. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the United Kingdom, excluding any conflict of laws principles.

7. Entire Agreement

This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements, oral or written, relating to the subject matter hereof.