Option Sales Contracts are crucial instruments in Nigerian commercial transactions, providing parties with flexibility while maintaining legal certainty in potential future sales. This document type is particularly valuable when parties need to secure future purchase rights while allowing time for due diligence, financing arrangements, or market conditions to align. The Option Sales Contract must comply with Nigerian law, including the Contract Law Act, Sale of Goods Act, and where applicable, sector-specific regulations. It typically includes detailed provisions on option exercise mechanisms, pricing structures, conditions precedent, and completion requirements. This contract type is commonly used in various sectors including real estate, oil and gas, and manufacturing, where the timing of purchase decisions can significantly impact business outcomes. The document's structure ensures protection for both the option grantor and holder while maintaining enforceability under Nigerian law.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Parties: Identification and details of the option grantor and option holder
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Key terms used throughout the agreement
4. Grant of Option: Express terms of the option grant, including the type of option (call/put) and scope
5. Option Period: Duration of the option and any conditions affecting its term
6. Option Price: Amount payable for the option itself (if any)
7. Exercise of Option: Process and requirements for validly exercising the option
8. Purchase Price: Price payable for the underlying asset if the option is exercised
9. Payment Terms: Terms and conditions for payment of both option price and purchase price
10. Completion: Process and requirements for completing the sale upon option exercise
11. Representations and Warranties: Standard warranties about capacity, authority, and asset condition
12. Termination: Circumstances under which the option agreement may be terminated
13. Governing Law and Jurisdiction: Confirmation of Nigerian law and jurisdiction
1. Third Party Rights: Include when there are specific third parties who may have rights under the agreement
2. Asset Maintenance: Include when the underlying asset requires specific maintenance during the option period
3. Security Provisions: Include when security is required for either the option or the purchase price
4. Right of First Refusal: Include when the option holder should have priority rights to purchase in certain circumstances
5. Regulatory Compliance: Include when the transaction involves regulated assets or activities
6. Tax Provisions: Include when specific tax arrangements or allocations need to be addressed
7. Force Majeure: Include when specific events should be identified that could affect the option exercise
8. Assignment Rights: Include when transfer of the option rights needs to be specifically addressed
1. Asset Description: Detailed description and specification of the asset subject to the option
2. Form of Exercise Notice: Template notice for exercising the option
3. Due Diligence Requirements: List of documents and information to be provided upon exercise
4. Completion Requirements: Detailed list of documents and actions required for completion
5. Permitted Encumbrances: List of accepted encumbrances on the asset
6. Form of Transfer Documents: Templates for documents required to transfer the asset
7. Payment Schedule: Detailed breakdown of payment terms and timelines if complex payment structure
Find the exact document you need
Property Lease With Option To Buy
Nigerian law-governed agreement combining property lease terms with a future purchase option, subject to Land Use Act requirements.
Download
Option To Renew Tenancy Agreement
A Nigerian law-compliant agreement granting tenants the right to renew their existing lease under specified terms and conditions.
Download
Option To Renew Commercial Lease
A Nigerian law-compliant agreement granting tenants the right to renew their commercial lease under specified terms and conditions.
Download
Option Agreement Contract
A Nigerian law-governed agreement granting one party the right, but not obligation, to enter into a specified transaction under predetermined terms within a set timeframe.
Download
Buy Back Option Contract
A Nigerian law-governed agreement establishing terms for a seller's right to repurchase previously sold assets under specified conditions.
Download
Extend Lease Agreement
A Nigerian law-compliant document that extends an existing lease agreement's duration while updating relevant terms and conditions.
Download
Option Cancellation Agreement
A Nigerian law-governed agreement that formally terminates an existing option agreement between parties, outlining cancellation terms and mutual releases.
Download
Option And Purchase Agreement
A Nigerian law-governed agreement granting exclusive rights to purchase property under specified terms and conditions within a set timeframe.
Download
First Option To Purchase Agreement
A Nigerian law-governed agreement granting exclusive rights to purchase specified property at predetermined terms within a set timeframe.
Download
Restricted Share Agreement
A Nigerian law-governed agreement establishing terms and conditions for restricted share issuance, including transfer restrictions, vesting conditions, and shareholder rights.
Download
Option Sales Contract
A Nigerian-law governed agreement granting the right to purchase specific assets under predetermined terms within a specified period.
Download
Simple Right Of First Refusal Agreement
A Nigerian law-governed agreement granting one party the first right to purchase an asset before it can be offered to others.
Download
Non Exclusive Option Agreement
A Nigerian law-governed agreement granting non-exclusive rights to enter into a future transaction or acquire specific rights/assets during a defined period.
Download
Lease To Own Land Agreement
A Nigerian law-governed agreement combining lease and purchase terms for land acquisition, allowing occupation while making payments toward eventual ownership.
Download
Land Lease Purchase Agreement
A Nigerian law-governed agreement combining land lease terms with a purchase option, structured to comply with the Land Use Act and state regulations.
Download
Land Buying Agreement
A Nigerian law-governed agreement for the purchase and transfer of land, incorporating all necessary elements under the Land Use Act and state requirements.
Download
Contract For Lease To Own
A Nigerian law-compliant agreement establishing terms for leasing property with an option to purchase, including payment structures and ownership transfer provisions.
Download
Company Equity Share Agreement
A Nigerian law-governed agreement for the transfer or issuance of company shares, ensuring compliance with CAMA 2020 and establishing parties' rights and obligations.
Download
Cash Payment Agreement
A Nigerian law-governed agreement establishing terms and conditions for structured cash payment arrangements between parties, ensuring regulatory compliance and transaction security.
Download
Truck Lease To Own Agreement
A Nigerian law-governed agreement enabling the lease of a commercial truck with an option to purchase after completing specified payment terms and conditions.
Download
Short Term Investment Agreement
A Nigerian law-governed agreement for structuring and managing short-term investments, ensuring regulatory compliance and protecting parties' interests.
Download
Seller Financing Purchase Agreement
A Nigerian law-governed agreement combining property sale and seller-provided financing terms, structured to facilitate property transfer while protecting both parties' interests through detailed payment and security provisions.
Download
Rental Agreement With Option To Purchase
A Nigerian law-governed agreement combining property rental terms with an option for the tenant to purchase the property, subject to Land Use Act requirements.
Download
Option To Buy Land Agreement
A Nigerian law-compliant agreement granting the right to purchase specified land within a set timeframe under predetermined terms.
Download
Land Option Contract
A Nigerian law-governed agreement granting exclusive rights to purchase land within a specified timeframe, subject to Land Use Act requirements.
Download
Option Agreement Land
A Nigerian law-governed agreement granting exclusive rights to purchase specified land within a set timeframe and price.
Download
Right Of First Refusal Agreement
A Nigerian law-governed agreement granting one party the first opportunity to enter into a business transaction before the grantor may engage with third parties.
Download
Lease With Option To Buy Contract
A Nigerian law-compliant agreement combining property lease terms with a future purchase option, structured to facilitate potential property acquisition.
Download
Vehicle Lease To Own Agreement
A Nigerian law-governed agreement establishing terms for a vehicle lease-to-own arrangement, including payment terms, maintenance requirements, and ownership transfer conditions.
Download
Lease Option Agreement
A Nigerian law-governed agreement combining a property lease with an option to purchase, providing tenants occupancy rights and a future purchase option at predetermined terms.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)