The Preferred Partner Agreement is designed for use in Hong Kong business relationships where organizations wish to establish strategic partnerships with enhanced benefits and privileges. This document is particularly relevant when a company wants to formalize a special commercial relationship that goes beyond standard vendor or supplier arrangements. The agreement includes comprehensive provisions covering partner benefits, commercial terms, performance criteria, and compliance with Hong Kong regulations. It is commonly used in scenarios where businesses want to create long-term, privileged partnerships with key stakeholders while ensuring proper protection of both parties' interests and compliance with Hong Kong's legal framework, including competition law and data protection requirements.
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1. Parties: Identifies and provides full legal details of all parties entering into the agreement
2. Background: Sets out the context and purpose of the partnership arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Partnership Scope: Defines the nature and extent of the preferred partnership relationship
5. Partner Rights and Benefits: Details the specific advantages and privileges granted to the preferred partner
6. Partner Obligations: Outlines the responsibilities and commitments of the preferred partner
7. Term and Renewal: Specifies the duration of the agreement and renewal conditions
8. Commercial Terms: Sets out pricing, payment terms, and financial arrangements
9. Intellectual Property: Addresses ownership and usage rights of IP in the partnership
10. Confidentiality: Protects confidential information shared between parties
11. Data Protection: Ensures compliance with privacy laws and data handling requirements
12. Termination: Details circumstances and processes for ending the agreement
13. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction
14. General Provisions: Standard boilerplate clauses including notices, assignment, and entire agreement
1. Exclusivity: Include when the partnership involves exclusive rights or territories
2. Performance Metrics: Include when specific performance targets or KPIs are required
3. Marketing and Branding: Include when the agreement involves joint marketing or brand usage
4. Training and Support: Include when specific support services are part of the partnership
5. Insurance: Include when specific insurance requirements are necessary
6. Compliance with Laws: Include when specific regulatory compliance requirements apply
7. Force Majeure: Include when specific force majeure provisions are needed beyond standard terms
8. Dispute Resolution: Include when specific dispute resolution procedures (e.g., mediation) are required
1. Schedule 1 - Partner Benefits: Detailed list of benefits, discounts, and privileges granted to the preferred partner
2. Schedule 2 - Commercial Terms: Detailed pricing structures, commission rates, and payment terms
3. Schedule 3 - Performance Criteria: Specific metrics, targets, and evaluation criteria for the partnership
4. Schedule 4 - Technical Requirements: Any technical specifications or requirements for the partnership
5. Schedule 5 - Approved Branding: Approved logos, marketing materials, and brand usage guidelines
6. Appendix A - Contact Details: Key contacts and escalation matrix for both parties
7. Appendix B - Reporting Templates: Standard templates for required partnership reporting
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