Sponsorship Contracts - Letters of Agreement Guidelines
- Related Documents: Sponsorship Policy
- Owner: Vice-President, University Advancement
- Approval Dates: January 2001, January 2004, August 2007
Sponsorship contracts and letters of agreement must include the following clauses:
1. Description of the Sponsorship Alliance: The contract will contain a comprehensive description of the facility, project or event around which the sponsorship alliance is constructed, including a list of obligations for both parties. Obligations of the parties in market research or sponsorship analysis will be explicitly itemized in the contract.
2. Terms of Agreement: The dates for commencement and conclusion of sponsorship alliances must be included in the contract. In cases of time-limited or permanent naming opportunities, this must be so stated in the contract and requires approval by the processes outlined in the University policy on Benefactor Naming.
3. Signing Authority: One or more of the following must sign all contracts or agreements: the President of the University or the President’s designate; the Vice President, Administration and Finance or the Vice President, University Advancement.
4. Key Personnel: The contract will include the names of the individuals from both parties primarily responsible for the sponsorship and to whom issues regarding the contract are to be referenced.
5. Limitations on and Approval of the Use of the Ryerson University Name: The following clause limits the use of Ryerson’s name by the sponsor in its own internal and external promotion and advertising as per the negotiated arrangements: ANeither party, in any situation, whether within or outside the parameters of the sponsorship shall be deemed to be the spokesperson for or the representative of the other party.” The use of the University crest, word marks, or logos must be stipulated in all contracts and agreements.
6. Exclusivity: Ryerson University may wish to offer outright or industry exclusivity to a sponsor or the sponsor may request such exclusivity within the sponsorship alliance. Where relevant, the following statement regarding exclusivity will be included in the contract: ARyerson University agrees that (name of sponsor) shall be the sole and exclusive sponsor of (name of initiative) for the term of this agreement.”
7. Financial Terms and Schedule of Payments: The total value and the payment schedule of the sponsorship agreement between the parties will be clearly identified in the contract. The name and full address of the office to which payments shall be remitted will be included in the contract.
8. Obligations of the Parties to Each Other: The obligations of the parties are dependent upon the form of the alliance and will be determined on an individual basis. The relating clause will reference market research, program, evaluation responsibilities, reporting and approvals. Specific criteria and methodologies for the evaluation of sponsorship alliances will be itemized in obligation clause.
9. Breach of Contract: Prior to initiating formal notification of breach of contract, the parities will undertake all appropriate and reasonable efforts to resolve the matter. Should these efforts not prove successful, either party may notify the other of breach of contract in writing, sent by mail or courier, return receipt requested. Such notification will request a written response by a specific date. Non-compliance will constitute cause for dissolution of the contract.
10. Right to Discontinue the Sponsored Program or Event: When circumstances beyond the control of Ryerson University force the cancellation or substitution of a sponsored event or project, the University reserves the right to cancel or substitute without finding itself financially liable or in breach of contract.
11. Schedules and Appendices: The contracts will often, if not always, include one or more schedules or appendices that further clarify the contractual relationship. These appendices must be numbered, signed and attached to all copies of the contract.
12. Sponsorship Program Support: Ryerson University recognizes that the effective development and execution of its sponsorship program requires both sufficient trained staff and adequate financial resources. Ryerson University is committed to providing same.
13. Sponsor Recognition: Ryerson University endorses a formal recognition program for sponsors, which is distinct from the marketing benefits connected with specific event sponsorships and which is also distinct from other University Donor Recognition and Stewardship Programs.