Referral partner agreement checklist: what to confirm before you sign

Why read a referral agreement clause by clause

Two clauses deserve the closest reading: the definition of a qualified referral and the event that triggers payment. Misreading either leads to the most awkward conversation in any referral relationship, the one where a partner expected a payment the agreement never promised.

The checklist below works for any B2B referral agreement. Under each item, the SourceX position is stated from the program's published facts. The published program terms govern the detail, so keep them open while you work through the list.

The checklist

1. Qualified referral

• The agreement defines an eligible company. SourceX: the company is US-based, had 50+ full-time employees at peak (contractors excluded), has documented its operations over several years, holds the rights to license what it has, and has an owner, CEO, CFO or authorized representative willing to sponsor. Companies still operating, acquired or wound down can qualify if the data still exists.
• It says how an introduction is made. SourceX: through the referral form, or your referral link, which sends the company to sourcex.si/apply with your code attached.
• It says when a referral counts. SourceX: when the introduction leads to a verified company application.

2. Payout trigger

• The trigger is a defined event, not someone's judgment. SourceX: rewards become payable only after the buyer pays and SourceX receives its fee.
• Earlier milestones are excluded in writing. SourceX: a lead, a meeting or a signed agreement alone does not trigger payment.
• Payment timing and method after collection are set out in writing, not assumed.

3. Reward basis and cap

• The basis is explicit. SourceX: 25% of the eligible platform fees SourceX actually collects from the referred company's licensing deals.
• The cap is stated per company. SourceX: $100,000 cumulative per referred company.
• It is clear who bears the reward. SourceX: it is a share of SourceX's fee and is never deducted from what the company receives.
• Any tiers or bonuses appear in the signed agreement or published terms, not only in a sales email.

4. Attribution and duplicates

• The tie-break rule is written down. SourceX: credit goes to the first valid referrer whose introduction leads to a verified company application within the attribution window.
• The window length, and what happens when the program already knew the company, are set out in the terms.

5. Term, termination and tail

• What happens to referrals in progress if either side ends the agreement.
• Whether rewards on deals that close after termination are still paid, and for how long.

6. Confidentiality and data handling

• What you may share. SourceX: basic fit information only; partners never export, upload or describe confidential records.
• Nothing in the agreement asks you to breach an existing client NDA. The guide to referral agreement confidentiality clauses covers the wording.

7. Disclosure and marketing

• Your duty to disclose compensation to clients, and to audiences if you recommend the program in public. The FTC Endorsement Guides address disclosure of material connections between endorsers and advertisers in 16 CFR Part 255, section 255.5.
• Rules on using the program's name, paid ads and outreach methods.

8. Tax and compliance paperwork

• The tax form the program requests. In general US payees document their taxpayer details on Form W-9 and non-US individuals use a W-8 series form such as Form W-8BEN; ask which one applies to you rather than assuming.
• How payments are reported. Payments to non-employees for services can be reportable on Form 1099-NEC, and the reporting threshold changed recently, so check the current IRS instructions for the payment year and confirm with a tax adviser how your reward would be treated. Amounts included in income are generally taxable unless the law exempts them (IRS Publication 525).
• Registered representatives tell their firm. FINRA reported that the SEC approved new Rule 3290 on outside activities in September 2026, replacing Rules 3270 and 3280, with the effective date to be announced; until then the existing rules apply (FINRA update).
• CPAs, lawyers and other licensed professionals check their fee and disclosure rules first, using the compliance review checklist.

9. Governing law, disputes and changes

• Which law governs and where disputes are heard.
• How the program can change its terms, and how you will be told.
• Whether the document is the entire agreement, so side promises carry no weight.

How to use your results

SourceX program facts at a glance

Red flags in any referral agreement

• Payment promised on a lead or a meeting, with no clarity about what happens if the deal never closes.
• A requirement to send client documents, data samples or financial details.
• An expectation that you negotiate price or terms on the program's behalf.
• Rewards funded by a charge added to your client's price.
• Terms that change without notice, or a reward described only in marketing copy.
• Any instruction to keep the relationship from your client.

This is general information, not legal, tax or financial advice. Confirm with your own counsel, tax adviser or professional body before acting. For the securities question that sometimes comes up with paid introductions, see whether a finder's fee is legal.

Next step

Work through the checklist with the program terms open. When every item is answered, register as a partner. If you advise clients, prepare a referral fee disclosure letter before your first introduction.