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Monthly Retainer Agreement
"I need a Monthly Retainer Agreement for my law firm to provide ongoing legal advisory services to a manufacturing company in Lagos, with a fixed monthly fee of 500,000 Naira and the agreement to commence from January 1, 2025."
1. Parties: Identification and details of the service provider and client, including registration numbers and addresses
2. Background: Context of the agreement and brief description of the parties' business relationship
3. Definitions: Key terms used throughout the agreement defined for clarity and consistency
4. Scope of Services: Detailed description of services to be provided under the retainer arrangement
5. Term and Renewal: Duration of the agreement and conditions for renewal or extension
6. Retainer Fee and Payment Terms: Monthly fee amount, payment schedule, and payment methods
7. Service Provider's Obligations: Key responsibilities and commitments of the service provider
8. Client's Obligations: Key responsibilities and commitments of the client
9. Confidentiality: Provisions for handling confidential information shared between parties
10. Intellectual Property: Ownership and usage rights of any IP created during service provision
11. Termination: Conditions and procedures for ending the agreement
12. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
13. Entire Agreement: Standard boilerplate confirming this document represents the complete agreement
14. Execution: Signature blocks and execution formalities
1. Additional Services: Terms for services beyond the retainer scope, used when parties want to establish framework for extra work
2. Service Levels: Specific performance metrics and standards, included for technical or specialized services
3. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in volatile markets
4. Non-Compete: Restrictions on competitive activities, used in sensitive industry sectors
5. Insurance: Insurance requirements, important for high-risk services
6. Data Protection: Specific data handling requirements, necessary when personal data is involved
7. Assignment: Rights to transfer the agreement, relevant for corporate clients
8. Dispute Resolution: Detailed ADR procedures, recommended for high-value retainers
1. Schedule 1 - Scope of Services: Detailed breakdown of services covered under the retainer
2. Schedule 2 - Fee Structure: Detailed breakdown of fees, including any variable components
3. Schedule 3 - Key Personnel: List of key team members assigned to provide the services
4. Schedule 4 - Service Levels: Detailed performance metrics and measurement criteria
5. Schedule 5 - Reports and Deliverables: Format and frequency of required reports and deliverables
6. Appendix A - Communication Protocol: Procedures for routine communications and escalations
7. Appendix B - Change Request Form: Standard form for requesting changes to services or terms
Authors
Legal Services
Professional Services
Information Technology
Management Consulting
Marketing and Advertising
Financial Services
Business Advisory
Public Relations
Healthcare Consulting
Engineering Services
Human Resources
Education and Training
Legal
Procurement
Finance
Operations
Business Development
Compliance
Risk Management
Corporate Services
Commercial
Contract Administration
Chief Executive Officer
Managing Director
Legal Counsel
Contract Manager
Procurement Manager
Business Development Manager
Finance Director
Operations Manager
Project Manager
Consulting Partner
Account Manager
Human Resources Director
Marketing Director
Chief Financial Officer
Company Secretary
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