Sometimes businesses need some valuable business information from external sources. Such information include but not limited to contact info, list of potential clients, and contacts of other companies. Companies hire specific people for this purpose and offers a fee to find some pre-specified information. And the agreement created with the contractor for this activity is called Finder Free Agreement. This agreement helps in the face of future disagreement, preventing any alleged uncertainty.
The sole intention of finder’s Fee agreement is to get interested customers for business through one middleman or mediator who arranges a meeting between the interested person and the person who wants clients.
A finder’s fee or referral fee is a commission paid to the person or entity that facilitated a deal by linking up a potential customer with an opportunity. A finder’s fee is a reward and an incentive to motivate the facilitator of the transaction to keep providing referrals to the buyer or seller in the deal.
In this clause defines the obligation of both the parties which have to perform or legally bind to perform.
