Recruiting software by BlackDog - recruitment fee agreement example five

Date 
Client contact name
Client contact title
Client company name
Address
Address

Dear client contact name,

Following our conversation, this letter confirms our agreement with Client company name. If there are any questions or comments with the terms and conditions, please contact us immediately.

Finder Fee: Client company name agrees to pay recruiting-executive search firm a fee of thirty (30%) percent of the applicant’s annual starting salary. This fee is not associated with any bonuses, benefits or stock that may be part of the applicant’s compensation.

Payment terms: Payment for placement of a applicant is due no later than thirty (30) days after the applicant’s first day of employment. In case a applicant placed by recruiting-executive search firm is hired on a contract basis, recruiting-executive search firm will charge a monthly fee of thirty (30%) of all monies paid to the applicant. recruiting-executive search firm is entitled to interest at a rate of 18% per annum on any overdue balances, with interest to accrue starting the applicant’s 31st day of employment. recruiting-executive search firm is further entitled to reasonable attorney’s fees and costs incurred to collect any overdue balances.

The applicant’s first day of employment is included for purposes of calculating the due date for payment, accrual of interest, and the period the guarantee expires.

Guarantee: recruiting-executive search firm will guarantee all applicants for the first ninety (90) days of employment on a pro-rated basis. Should the applicant resign or be terminated within that the first thirty (30) days, with the exception of Client company name downsizing or lay-off, recruiting-executive search firm will provide another qualified applicant to Client company name at no additional cost. Should the applicant resign or be terminated between day thirty-one (31) and day sixty (60) of employment, with the exception of Client company name downsizing or lay-off, recruiting-executive search firm will refund 66.67% of the placement fee. Should the applicant resign or be terminated between day sixty-one (61) and day ninety (90) of employment, with the exception of Client company name downsizing or lay-off, recruiting-executive search firm will refund 33.33 % of the placement fee. This guarantee is provided only if (a) recruiting-executive search firm receives written notice of resignation / termination within 5 business days of resignation / termination date, and (b) finders fee was paid when due.

Representation: Client company name agrees to pay recruiting-executive search firm a finders fee for any applicant hired within 180 days of presentation provided that the submittal by recruiting-executive search firm preceded that of any other source. The form of submittal shall include applicant’s name or resume via fax, email, voice mail, or phone conversation. If recruiting-executive search firm submits a applicant’s name or resume, and that person is already known to Client company name, you must notify recruiting-executive search firm within forty-eight (48) hours of submittal that the applicant is known to you: otherwise, a finders fee will be owed should a applicant by hired within 180 days of presentation.

Confidentiality: The identity and resume of each applicant referred by recruiting-executive search firm constitutes confidential and proprietary information and may only be used by Client company name to evaluate a applicant, and may not be used for any other purpose or provided to a 3rd party.

The terms of this agreement may only be modified with a writing signed by both parties. Please sign and return at your earliest convenience.

Thank you, 

recruiting-executive search firm president