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1. Parties: Identification of all parties to the agreement, including the payer and payee
2. Background: Description of the accident, date of occurrence, and circumstances leading to this agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Payment Terms: Detailed description of the payment amount, method, and timing of payment
5. Release of Claims: Clear statement of release of liability upon payment
6. Acknowledgment: Acknowledgment of receipt of consideration and acceptance of terms
7. Confidentiality: Terms regarding the confidentiality of the agreement and its terms
8. Entire Agreement: Clause stating this document represents the complete agreement between parties
9. Governing Law: Specification that Nigerian law governs the agreement
10. Execution: Signature blocks and execution requirements
1. Installment Payment Schedule: Include when payments are to be made in multiple installments rather than a lump sum
2. Medical Treatment Provisions: Include when ongoing medical treatment is part of the settlement
3. Insurance Company Involvement: Include when an insurance company is involved in making payments
4. Tax Implications: Include when there are specific tax considerations that need to be addressed
5. Non-Admission of Liability: Include when the payer wishes to explicitly state that payment does not constitute admission of fault
6. Future Medical Expenses: Include when agreement needs to address potential future medical expenses
7. Dispute Resolution: Include when parties want to specify particular dispute resolution mechanisms
8. Translation Certificate: Include when one or more parties require the agreement in multiple languages
1. Schedule A - Accident Report: Detailed description of the accident including police reports and witness statements
2. Schedule B - Medical Reports: Summary of medical reports and treatments related to the accident
3. Schedule C - Payment Schedule: Detailed breakdown of payment amounts and dates if multiple payments are involved
4. Schedule D - Medical Bills: Itemized list of medical expenses being covered
5. Appendix 1 - Supporting Documents: Copies of relevant supporting documents such as ID cards, insurance policies
6. Appendix 2 - Witness Statements: Copies of witness statements if relevant to the settlement
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