Commitment Agreement Example

When it comes to business partnerships, it`s important to establish clear expectations and responsibilities to ensure a successful collaboration. One way to do this is through a commitment agreement, which outlines the terms of the partnership and the actions both parties are expected to take. Here is an example of a commitment agreement:

Commitment Agreement between [Company A] and [Company B]

1. Purpose

The purpose of this commitment agreement is to establish a partnership between [Company A] and [Company B] for the purpose of [insert purpose].

2. Responsibilities of Company A

– [Insert responsibilities]

– [Insert responsibilities]

– [Insert responsibilities]

3. Responsibilities of Company B

– [Insert responsibilities]

– [Insert responsibilities]

– [Insert responsibilities]

4. Commitment

Both parties agree to fulfill their responsibilities as outlined in this agreement to the best of their abilities and to communicate regularly to ensure the success of the partnership.

5. Term

This commitment agreement is effective immediately and will remain in effect until completion of the project or termination by either party.

6. Termination

Either party may terminate this agreement with written notice to the other party in the event of a breach of the terms outlined in this agreement.

7. Confidentiality

Both parties agree to keep all information regarding this partnership confidential and to not disclose any information to third parties without prior written consent.

8. Governing Law

This agreement shall be governed by and construed in accordance with the laws of [insert governing law].

By signing this commitment agreement, both [Company A] and [Company B] agree to the terms outlined above and commit to working together to achieve the goals of the partnership.

In conclusion, a commitment agreement is a valuable tool for establishing clear expectations and responsibilities in a business partnership. By utilizing an agreement like the one above, both parties can work together towards a successful collaboration while maintaining mutual respect and understanding.