Charitability Term Sheet Template
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Charitability Term Sheet
I. Introduction
In this section, both parties acknowledge their intent to engage in a charitable endeavor. The purpose of this agreement is to outline the terms and conditions under which [Your Company Name] ("the Company") will contribute to [Charitable Organization] ("the Charity") for the betterment of [cause or community].
A. Purpose
The fundamental aim of forming this partnership is to provide assistance and support to underprivileged children within the local community.
B. Background
[Provide background information on the Company and the Charity, including their respective missions, values, and any previous collaborations if applicable].
II. Contributions
In this section, the details of the contributions from both parties are outlined, including financial donations, in-kind donations, volunteer hours, or other resources.
A. Financial Contribution
The Company agrees to provide a financial contribution of $10,000 to the Charity, to be disbursed in two (2) installments throughout 12 months.
B. In-Kind Contribution
Furthermore, the Company will be offering contributions in the form of non-monetary assistance, which includes items like school supplies, books, and various educational materials.
C. Volunteer Commitment
The Company pledges to dedicate a total of 20 volunteer hours to assist with various activities organized by the Charity. These activities could encompass conducting tutoring sessions, providing mentoring support, as well as taking part in the coordination and organization of events.
D. Other Contributions
This section shall include a detailed description of any additional contributions that both parties agree upon.
III. Responsibilities
This section provides a detailed description of the responsibilities assigned to each party involved, intending to ensure the successful implementation of the charitable initiative.
A. Responsibilities of [Your Company Name]
Provide timely financial contributions as outlined in Section II.A.
Coordinate with the Charity to ensure the smooth execution of in-kind contributions.
Encourage employees to participate in volunteer activities and provide necessary support.
B. Responsibilities of the Charity
Utilize the contributions received from the Company for the intended purpose as outlined in this agreement.
Provide regular updates and reports on the impact of the contributions to the Company.
Collaborate with the Company to maximize the effectiveness of the partnership.
IV. Term and Termination
This section specifies the duration of the agreement and the circumstances under which it may be terminated.
A. Term
The term of this agreement shall commence on April 1, 2050, and continue until March 31, 2051, unless terminated earlier as provided herein.
B. Termination
Either party may terminate this agreement upon 30 days written notice to the other party in the event of a material breach of the terms of this agreement by the other party.
V. Confidentiality
Both parties involved in this agreement have come to a mutual understanding and hereby agree to uphold and preserve the confidentiality of any information that is considered proprietary or sensitive which might be exchanged or disclosed during this partnership.
A. Confidential Information
Confidential information includes but is not limited to financial data, strategic plans, and any other information marked as confidential by either party.
B. Non-Disclosure
Both parties agree not to disclose confidential information to any third party without the express written consent of the disclosing party.
VI. Governing Law and Dispute Resolution
This section sets forth the provisions that determine the governing law under which the agreement is regulated and provides a detailed outline of the procedures to be followed for resolving disputes.
A. Governing Law
This agreement shall be governed by and construed following the laws of [Jurisdiction].
B. Dispute Resolution
Any disputes arising out of or in connection with this agreement shall be resolved through good faith negotiations between the parties. If a resolution cannot be reached, the parties agree to submit the dispute to mediation before pursuing any legal remedies.
VII. Miscellaneous
This section includes any additional provisions or clauses that are relevant to the agreement but not covered in previous sections.
A. Entire Agreement
This agreement constitutes the entire understanding between the parties concerning the subject matter herein and supersedes all prior agreements and understandings, whether written or oral.
B. Amendments
Any modifications or changes to this agreement will only be considered valid and enforceable if they are recorded in written form and duly signed by each party involved.
C. Severability
If any provision of this agreement is held to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable to the fullest extent permitted by law.
D. Waiver
The failure of either party to enforce any provision of this agreement shall not be construed as a waiver of such provision or the right to enforce it thereafter.
This Charitability Term Sheet Template is intended to serve as a framework for establishing a partnership between [Your Company Name] and [Charitable Organization] to advance support for underprivileged children in the local community. Both parties should review and customize this template to reflect their specific needs and requirements.
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