RACE CAR SPONSORSHIP CONTRACT TEMPLATE

About [Car Racing Team.FirstName]​

​[Car Racing Team.FirstName] is (describe your team) consisting of (number) passionate driver(s) from (area/all over the world) and (number) crew members.

Founded in (year), our mission is to (describe personal/charitable missions). This year, we aim to (goals).

Past events and achievements

Past event/achievement, year

Past event/achievement, year

Sponsorship

Our sponsors are also dedicated members of the [Car Racing Team.FirstName]. Your support means a lot to us and drives us to improve our performance and continue to excel. Your donations will help fund (list items like race car reparation/testing/maintenance, competition registration, purchasing any new materials or car parts, team training, team transportation, etc.).

All monetary donations for (event name) will go towards (cause).

Sponsorship benefits

As a thank you for sponsoring us, we aim to establish a long-term relationship with you and support you in return. Supporting us gives you a great opportunity for us to help promote your organization at the (event name) as well on our (website/social media/t-shirts).

Sponsorship levels

$100 (Bronze level)

Includes your logo on one of our cars and your logo on our website.

$500 (Silver level)

Includes your logo on one of our cars, your logo on our website, and your company name mentioned in our social media posts.

$1000 (Gold level)

Includes your logo on one of our cars, your logo on our website, a social media shoutout to your company, and your logo on our promotional t-shirts.

This sponsorship agreement, hereby called the agreement, is entered into by:

​[Car Racing Team.FirstName], herein referred to as the Race Team, organized as a (corporation, limited liability) and located at [Car Racing Team.StreetAddress][Car Racing Team.City][Car Racing Team.State][Car Racing Team.PostalCode]​

and/or

​[Sender.Company], herein referred to as the Company, a corporation organized and existing under the laws of (state) and having a principal address at [Sender.StreetAddress][Sender.City][Sender.State][Sender.PostalCode]​

and/or

​[Sponsor.FirstName][Sponsor.LastName], herein referred to as the Sponsor, residing at [Sponsor.StreetAddress][Sponsor.City][Sponsor.State][Sponsor.PostalCode].

Whereas, the Sponsor has agreed to sponsor the Race Team, consisting of these members:

(Name), race car driver

Whereas, the Race Team will provide competitive race cars during (event name), the Event, or for all the events which the Sponsor has agreed to sponsor;

Whereas, the Company will promote the Sponsor/the Sponsor’s organization;

Now, therefore, the Race Team and the Sponsor hereby agree as follows:

Term and termination

The term of this Agreement and Sponsorship shall begin on (date) and end on (date). This Agreement shall apply to (a) specific event(s) / all events in which the Race Team participates during this term.

Either the Race Team or the Sponsor may terminate this Agreement if the other party has breached the terms and if it is not solved within (number of) days of receiving written notice from the non-breaching party. In the event a breach cannot be cured entirely within the (number of) days, and the breaching party has tried to cure the breach within the said period, both parties may agree to continue the Agreement until the breach is solved.

This Agreement is only effective with the written consent of all interested parties.

Sponsorship fee

For the term of this Agreement, the Sponsor shall pay the Racing Team a sponsorship fee of ($ amount), payable in full by (date) or in installments. An initial deposit of ($ amount) must be paid on or before (date). After that, (number of) installments of ($ amount) must be paid on or before (date) unless this Agreement is terminated, in which case the Sponsor shall not have to make any payments.

Payments are to be made payable to (name/the Race Team) by (method).

Sponsorship benefits

This Agreement hereby binds the Sponsor into a Sponsorship relationship with the Race Team and cars driven and maintained by an experienced Pit Crew;

The Sponsor shall have their logo displayed on the Race Team's website, www.website.com, as of (date) until (date), on a sticker on (name specific car) during the (event name), and on the Racing Team's promotional t-shirt.

The Racing Team shall mention the Sponsor in a social media campaign before the event and no later than (date).

All stickers, t-shirt printing, and preparation of the event and race cars shall be provided and paid for by the Race Team.

This Agreement hereby allows the Sponsor to use the Race Team logo in any print and graphic promotional and advertising campaigns of or by the Sponsor.

This Agreement hereby prohibits the Sponsor from endorsing any race teams, its members, and any products and services that are in direct competition with the Race Team, unless approved in writing.

The Sponsor may use the Race Team's facilities, such as (the conference room, racing shop, and garage) provided that the Race Team receives notice of the need for such use (number of) hours in advance. The Race Team shall grant permission if the use does not interfere with operations and safety.

Indemnification

The Race Team represents to the Sponsor that the Sponsor’s total obligation will not exceed the amount of the sponsorship fee set in Section 2, and, if applicable, collection costs that the Racing Team may reasonably incur in a legal proceeding to collect all or part of the maximum obligation.

The Race Team will indemnify, defend and hold the Sponsor and its counterparts (list counterparts, i.e., employees, directors, independent contractors) harmless from and against all actions, suits, proceedings, judgments, demands, claims, liabilities, losses, or expenses incurred in connection with or ensuing from the race car and activities or omissions of the driver or team members or of the Race Team including, without limitation:

Any claim that falls within the insurance coverage;

Any breaches, misrepresentation, or non-performance by the Race Team;

Any claim or action for or relating to personal loss, injury, death, property damage, or otherwise, suffered by participants, team members, audience members (list any other parties) at any event related to the race cars;

Any amount owed by the Race Team related to the race cars.

Governing law

This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of [Sender.State].

Retention of rights

The Race Team hereby grants the Sponsor the right to receive the benefits, and retains all other rights with respect to the Racing Team, including but not limited to logos, symbols, and intellectual property of the Racing Team, and any amounts earned by the Racing Team.

The Sponsor hereby retains and does not grant any rights to the Race Team to use any of its logos or intellectual property, except for use as outlined in Section 4.

If this Agreement is terminated or if the sponsorship terminates at the end of the term provided in section 1, the Race Team and the Sponsor shall immediately cease to use each other's names, logos, or intellectual property.

Insurance

a. The Race Team will provide spectator liability insurance coverage in the amount of ($ amount) with respect to any liability relating to the activities that this Agreement covers.

b. The Sponsor may request a copy of the insurance policy or certificate within (number of) days of the execution of this Agreement, and the Race Team shall grant the request. Such policies may be canceled only upon (number of) days written notice to the Sponsor.

Remedies

If either party breaks any part of this Agreement, the other party may seek monetary damages and/or equitable relief to require the performance of the obligations.

Entire agreement, waiver & confidentiality

This Agreement overrides all previous agreements and understandings between the Race Team and the Sponsor. Any waiver of any provision hereof must be written and signed by the party that agrees to the waiver. All terms in this Agreement must be held confidential by all parties. Neither party may release, disclose or publish any of the terms in this Agreement without written consent from the other party.

Modification of agreement

Any modification of this Agreement must be written and signed by both the Race Team and the Sponsor. Each party has the right to send an authorized representative to sign on their behalf.

Notice

Any notice required to be given under this Agreement shall be sent in writing and shall be effective only when delivered by (method) to this address:

​[Sender.StreetAddress][Sender.City][Sender.State][Sender.PostalCode].

12. Compliance with Laws

All applicable governmental laws, regulations, and orders will be followed and complied with in all respects by the Race Team and the Sponsor.​

This Agreement hereby goes into effect on (date)