Recent Answers to Sponsorship Agreement Law Questions
Can a sponsorship agreement be terminated if the sponsored event is postponed or canceled due to unforeseen circumstances?
Business Contracts
Sponsorship Agreement
New York
I am organizing a large-scale event that is set to be sponsored by a company, and we have signed a sponsorship agreement. However, due to the COVID-19 pandemic, there is a possibility that the event may need to be postponed or canceled. I want to know if the sponsorship agreement can be terminated in such circumstances and what legal implications may arise from this situation.
Damien B.
Hello1. The sponsorship agreement could have a force majeure provision. For example, if the provision mentions pandemics or COVID-19, the agreement could be canceled, terminated, or postponed. It depends on the language of the contract.
Can a sponsorship agreement be terminated if the sponsor fails to fulfill their obligations?
Business Contracts
Sponsorship Agreement
New York
I am currently in the process of negotiating a sponsorship agreement with a potential sponsor for an event I am organizing. However, I have concerns about the sponsor's ability to fulfill their obligations as outlined in the agreement, such as providing financial support and promotional materials. I would like to know if there are any legal grounds for terminating the agreement if the sponsor fails to meet these obligations, and what steps I should take to protect myself and my event in such a situation.
Damien B.
If the sponsor doesn't fulfill their obligations as outlined in the agreement, it could be considered a breach of contract. You would refer to any termination clause or event of default clause in the agreement. You would want to have an agreement with a termination clause to protect yourself and possibly an event of default section. Outside the agreement, you would want to document all communication regarding the matter. Feel free to reach out if you have a follow-up question.
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