A membership agreement for your members to sign may be a good idea when running a membership business, though it’s not technically a legal requirement.
According to Chron, a membership agreement is a formalised contract between your membership business and members of the business.
Benefits of a Membership Agreement
Members may miss payment deadlines and disrupt your recurring revenue
Members may report a another member's breach of community guidelines and rules
Members may claim that they are not receiving specific services or perks
Details of a Membership Agreement
The member’s personal information, including their name, contact details and address
The date that the membership agreement is active from
A comprehensive list of benefits or services associated with membership
The cost and payment schedule associated with the member’s membership plan
A list of actions that breach the membership agreement
A liability statement regarding damage, financial loss or inaction
A statement expressing how the membership agreement may be terminated
A statement that implies signing the agreement is subject to terms and conditions
A space for both parties to sign the membership agreement and write signing dates
The membership agreement’s specific will depend on the type of membership business. So, instead of developing a one-size-fits-all template, we provide links to notable examples.
General Membership Businesses
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