Sponsorship Agreement Indemnification

13.2. Mandatory arbitration. If the parties are unable to resolve a disagreement in accordance with the mediation described above, the parties submit the disagreement to arbitration in accordance with the Commercial Arbitration Association` commercial arbitration, which, unless the parties agree otherwise, and in accordance with the following procedures: (i) Arbitration fees and fees, including reasonable legal fees and fees. , is awarded by the arbitrator; (ii) the arbitrator`s award is final and the judgment may be registered with any competent court; and (iii) The existence and decision of the arbitration are treated confidentially by the parties and the arbitrator. The arbitrator is chosen by the company`s external advisor, if necessary, or, if the company does not have external legal assistance, then by its certified accountant. This arbitration proceeding takes place within 20 miles of Ann Arbor, Michigan, unless otherwise agreed. The arbitrator makes his decision within 30 days of the hearing. The arbitrator`s decision is final. The arbitrator is exclusively competent and empowered to resolve all disputes relating to the validity and interpretation of this agreement. A well-developed sponsorship contract will usually have at least the following elements: Sponsorship and ticket sales are the economic engine of most music festivals and other special events. The organizer will generally prepare a form of sponsorship contract for use with sponsors, although some demanding sponsors (z.B.

Red Bull) may prefer their own form of contract. If an anchor sponsor wants to use their own form, the organizer must use it to expedite the conclusion of the agreement. Lawyer`s time should be spent on the most critical bargaining points instead of arguing over the little things chosen. Does your event sponsorship contract miss one of these essential conditions? 8.2 This agreement is governed by the laws of the state of the state and is enforced in accordance with the laws of the state [name of the state] that apply to agreements that have been and are implemented throughout that state. In the event of a disagreement, the parties refer the matter to an independent arbitrator appointed by mutual agreement. 13.1. Mediation. When a claim, disagreement or dispute between the parties or in the interpretation or execution of the sponsorship agreement (hereinafter referred to as „disagreement“) occurs or exists, each party may require the other party to provide in writing the reasons of its position, and then enter into good faith negotiations to try to resolve the disagreement.

If such a disagreement cannot be resolved through good faith negotiations within 30 days, each party may decide in writing to submit the dissent dispute of mediation in accordance with the rules of commercial mediation to the American Arbitration Association. If one party chooses it, the other party submits to mediation. The mediator is chosen by the company`s external advisor, if it exists, or, if the company does not have external legal assistance, and then by its certified accountant, within ten (10) days of written notification of the election.

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