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Master Pricing Agreement

Master Pricing Agreement Template for Nigeria

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Key Requirements PROMPT example:

Master Pricing Agreement

"I need a Master Pricing Agreement for my Nigerian manufacturing company to purchase raw materials from a UK supplier, with quarterly price reviews and provisions for exchange rate fluctuations, to commence from March 2025."

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Document background
The Master Pricing Agreement serves as a cornerstone document for businesses operating in Nigeria that engage in repeated transactions requiring standardized pricing arrangements. It is particularly useful for companies maintaining ongoing commercial relationships where multiple transactions occur over time and parties wish to avoid negotiating prices for each individual transaction. This agreement type, governed by Nigerian law, typically includes comprehensive pricing mechanisms, adjustment formulas, volume commitments, and commercial terms that comply with Nigerian regulatory requirements, including the Federal Competition and Consumer Protection Act 2018. The document is designed to provide both flexibility and certainty in pricing arrangements while ensuring compliance with local laws and regulations. It's commonly used in various industries for both goods and services, and can accommodate both domestic and international commercial relationships, provided they align with Nigerian foreign exchange regulations and investment laws.
Suggested Sections

1. Parties: Identification of the contracting parties including registered addresses and company details

2. Background: Context of the agreement and business relationship between the parties

3. Definitions: Definitions of key terms used throughout the agreement

4. Scope of Agreement: Overview of products/services covered and the framework for pricing

5. Pricing Structure: Detailed pricing methodology, base prices, and calculation mechanisms

6. Price Adjustments: Mechanisms and conditions for price changes, including periodic reviews

7. Ordering Process: Procedures for placing and accepting orders under the agreement

8. Payment Terms: Payment conditions, invoicing requirements, and payment methods

9. Term and Termination: Duration of agreement and termination provisions

10. Confidentiality: Protection of confidential information and trade secrets

11. Compliance with Laws: Obligations to comply with Nigerian laws and regulations

12. Dispute Resolution: Process for resolving disputes under Nigerian law

13. General Provisions: Standard legal provisions including notices, amendments, and governing law

Optional Sections

1. Volume Commitments: Minimum purchase obligations and volume-based pricing tiers - include when there are specific volume requirements

2. Currency and Exchange Rates: Provisions for handling multiple currencies and exchange rate fluctuations - include for international transactions

3. Service Levels: Performance metrics and standards - include when agreement covers services

4. Quality Requirements: Product or service quality specifications - include for goods or technical services

5. Intellectual Property: IP rights and licenses - include when IP is relevant to the pricing arrangement

6. Force Majeure: Provisions for unforeseen circumstances affecting pricing or performance

7. Insurance: Insurance requirements - include for high-value or high-risk transactions

8. Data Protection: Data privacy and protection provisions - include when personal data is processed

Suggested Schedules

1. Schedule 1 - Price List: Detailed list of products/services with corresponding prices

2. Schedule 2 - Price Adjustment Formula: Mathematical formula and methodology for price adjustments

3. Schedule 3 - Service/Product Specifications: Detailed specifications of services or products covered

4. Schedule 4 - Key Performance Indicators: Metrics for measuring performance and service levels

5. Schedule 5 - Approved Locations: List of locations where the pricing agreement applies

6. Appendix A - Order Form Template: Standard template for placing orders under the agreement

7. Appendix B - Report Templates: Templates for required reporting under the agreement

8. Appendix C - Contact Details: Key contacts for both parties for various purposes under the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




























































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Relevant Industries

Manufacturing

Retail

Distribution

Oil and Gas

Technology

Telecommunications

Financial Services

Healthcare

Agriculture

Construction

Mining

Fast-Moving Consumer Goods

Logistics

Professional Services

Relevant Teams

Legal

Procurement

Commercial

Finance

Sales

Business Development

Supply Chain

Operations

Compliance

Risk Management

Vendor Management

Strategic Sourcing

Relevant Roles

Commercial Director

Procurement Manager

Legal Counsel

Contract Manager

Finance Director

Sales Director

Business Development Manager

Supply Chain Manager

Chief Financial Officer

Operations Director

Pricing Analyst

Commercial Operations Manager

Category Manager

Vendor Manager

Strategic Sourcing Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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