A business development contract is a formal document signed between two or more parties in which one is the owner and the other is the business developer. This contract is drafted when the first party hires the second party to help in business development.
Sample Business development contract
Development Contract number: DC/28
Date of commencement : 1st June 2010
This business contract is made between Farico Internet Corporation and Superb advertising co. Superb advertising co. is to support services and feature advertisements on the websites supported by the Farico Internet corporations.
Address of the Owner party:-
Farico Internet Corporation; 15 Waldron Street, Toronto, Canada
Address of the Business developer Party:-
Superb Advertising co.; 28/65 herald mart, Toronto, Canada
Both the companies have agreed to work under the following terms and conditions:-
- The contract is made for the period of 5 years.
- In this time period superb advertising company cannot tie up with any other internet corporations.
- Former party has promised to pay 10% commission to the latter party for all the advertisements published.
- Farico Internet Corporation is also bound to display advertisements made by Superb advertising co.
Termination of contract:-
The contract will terminate immediately if any of the above said terms and conditions are violated.
- Settlement of any dispute between the said parties will be done by the Jurisdiction court of Toronto.
Hence both the parties will agree to the Business Development Contract
Signature of the Business Owner Company
Farico Internet Corporation
Signature of the business developer company
Superb Advertising co.