A Business Referral Agreement is a contract that outlines how a business that refers work to another business or individual will be paid.
It makes good business sense to reward people or businesses for referring work to another business. Incentivising referrals may help bring in new clients or customers.
Rather than relying on an informal understanding, it is best to use a Business Referral Agreement that sets out how much, when, and how the referrer will be paid.
When drafting a Business Referral Agreement, it is important to focus on a number of key clauses, in particular: