THIS TEMPLATE PROCEDURE IS FOR DEMONSTRATION PURPOSES ONLY AND SERVES AS EXAMPLE. DISTRIBUTORS ARE SOLELY RESPONSIBLE TO ENSURE THAT PROCEDURE IS IN ACCORDANCE WITH ALL LOCAL REQUIREMENTS BEFORE USE

PROCEDURE FOR COMMERCIAL SPONSORSHIPS

INSTRUCTIONS

Customize this procedure template according to your company’s needs; Ensure this document is accessible to all employees, including officers, directors, employees and all relevant business partners, such as sub distributors and agents. Ensure employees understand their duties and responsibilities as it relates to your company’s commitment to ethical and lawful conduct. Where possible, specify who is responsible for carrying out each step of the procedure. Train your employees on this Procedure and keep training records.

SCOPE
A commercial sponsorship can be defined as financial or in-kind support provided by the Company to third parties that independently organize meetings or other educational, medical, or scientific initiatives, in exchange for a tangible and appropriate benefit (“Tangible Benefit”). Examples of Tangible Benefits include (non-exhaustive list) exhibit or booth space, prominent advertising, such as a physical or digital banner ad, the right to host a satellite symposium at a larger third-party meeting.
MINIMUM REQUIREMENTS
No Entertainment, Recreation or Gifts No Inducements or Rewards Tangible benefit must reflect the Fair Market Value of the sponsorship (i.e. a commercially reasonable fee for the benefits received). Payments must be documented in a proper account, that correctly reflects the nature of the activity If the Company has not worked with the organizer before, the review should include conducting due diligence screening of the organizer
SUPPORTING DOCUMENTATION
Commercial Sponsorships must be reviewed before the Company makes any commitment to provide sponsorship, and properly documented. Documentation necessary for review may include: Agenda/Program (including venue) Commercial Sponsorship Agreement (draft) – must be signed before the event takes place Request letter from the organizer or brochure with sponsorship packages, or other information about sponsorship amounts and the Tangible Benefits being offered. Conference Vetting System (“CVS”) and other local approvals (where applicable). After the event has taken place, for close-out, the above documentation should be retained, together with : Proof of Performance documentation – for example, a photo of the Company’s booth, or a post-event attendee survey. Proof of completed due diligence screening, where applicable.