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Each week, PactSafe will discuss and post about specific standardized agreements and how they can be turned into one-click contracts. Last week, we covered AIA Change Order Form. This week, we're focusing on the Referral Agreement: what it is, why its typical signing method isn't ideal, and how it can be turned into a one click contract on the PactSafe platform.
A one click contract is like any other contract, but it’s presented in a way that allows the person signing it to do so by simply clicking on it. With very few exceptions, any contract can be signed with a single click on a website, from a phone, in an email — anywhere you meet your customers digitally, you can deliver a 1-click contract.
A referral agreement is a model where a company “refers” new leads to a vendor.
If the vendor negotiates a deal with the lead, the vendor will pay the referral party a percentage of the contract for a designated amount of time.
A referral agreement is typically signed by the company referring leads to the vendor.
These documents are typically signed manually or in a traditional e-sign workflow.
This signing method is less than ideal because it is clunky. It is also not ideal because the vendor is not likely to negotiate the terms of the referral agreement with the company.
I chose to stand up a Referral Agreement using PactSafe’s Sign product. You can build your referral agreement as a template in PactSafe, then send it to the referral party, and they can accept the vendor’s terms in 1-click.
A referral agreement works better as a 1-click contract because it’s unlikely that the vendor is going to negotiate their terms with the referring party.
1-click contracts are absolutely binding. Also known as “clickwraps,” courts have enforced millions of contracts accepted by a single click. PactSafe’s platform was built to help ensure 1-click contracts are created in compliance with all the best practices established in 1000’s of court cases over the past 20+ years.
Check out PactSafe's Contactless Contract and Policy Kit!