Obligations is a variable that appears in the Partnership Agreement Cover Page, in the Business Terms section. This section is for your agreements' key business terms.
This term allows you to pick and choose a set of obligations the Company and Partner owe each other under this agreement.
How to fill this out
Let's first consider the Company's obligations. Generally, this party is the creator of the agreement.
Sponsorship Obligations
If your partner is sponsoring you, are you providing sponsorship benefits? For example, if your company is hosting an event, and your partner is sponsoring the event, you might provide a vendor booth, ad placement or naming rights.
If you are sponsoring your partner, are you paying them? How much?
Referral Obligations
Will you make referrals to your partner? What’s the criteria for a third party to qualify as a “referral”?
Will your partner make referrals to you? If so, will you pay your partner for each referral? How much?
Co-marketing or Promotional Obligations
Are you providing marketing materials to your partner? Describe the materials you will provide.
Are you engaging in other marketing activities? Describe the marketing activities you will perform.
Repeat this process for the Partner's obligations to the Company.