Sample Commitment Letter for Business
A commitment letter is a formal document that outlines the terms and conditions of a business agreement. Here’s a sample commitment letter that can help you create a similar document for your business.
[Your Company Letterhead] [Date] [Recipient’s Name and Address]
Dear [Recipient’s Name],
We at [Your Company Name] are pleased to confirm our commitment to enter into a business agreement with [Recipient’s Company Name], which will be governed by the terms and conditions set forth in this letter.
Purpose of the Agreement: The purpose of this agreement is to establish a business relationship between [Your Company Name] and [Recipient’s Company Name] for the provision of [Service/Product] to [Recipient’s Company Name].
Scope of the Agreement: The scope of this agreement includes the provision of [Service/Product], as well as any additional services that may be mutually agreed upon by both parties in writing.
Duration of the Agreement: The initial term of this agreement will be [Duration] from the date of execution. This agreement will automatically renew for successive [Duration] periods unless either party provides written notice of termination at least [Notice Period] days prior to the end of the current term.
Payment Terms: The payment terms for the provision of [Service/Product] will be as follows [Payment Terms]. All payments will be made in [Currency] and are due within [Payment Period] days from the date of invoice.
Confidentiality: Both parties agree to maintain the confidentiality of all information exchanged during the course of this agreement, including but not limited to trade secrets, financial information, and customer lists.
Termination: Either party may terminate this agreement at any time, with or without cause, by providing written notice to the other party.
Governing Law: This agreement will be governed by and construed in accordance with the laws of [State/Country].
Entire Agreement: This agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and understandings, whether written or oral.
Please indicate your acceptance of the terms and conditions of this agreement by signing and returning a copy of this letter to us.
We look forward to a successful business relationship with you.
Sincerely,
[Your Name] [Your Title] [Your Company Name]
