The Preferred Supplier Agreement is a crucial commercial document used when a company wishes to establish a long-term, preferential relationship with a key supplier in Nigeria. This agreement is particularly relevant when a business wants to secure reliable supply channels, preferential pricing, and dedicated service levels while complying with Nigerian law and regulations. The document typically includes detailed provisions for ordering processes, quality standards, performance metrics, and risk allocation between parties. It's especially important in industries where consistent supply quality and reliability are critical, or where volume-based pricing benefits are sought. The agreement should be structured to comply with Nigerian contract law, competition law, and sector-specific regulations while providing sufficient flexibility to accommodate changing business needs over time.
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1. Parties: Identification and details of the supplier and buyer entities
2. Background: Context of the agreement and business relationship
3. Definitions: Defined terms used throughout the agreement
4. Appointment and Scope: Formal appointment of preferred supplier status and scope of supply
5. Term and Renewal: Duration of the agreement and renewal provisions
6. Ordering Process: Procedures for placing and accepting orders
7. Pricing and Payment: Price setting mechanisms, payment terms, and invoicing requirements
8. Delivery and Acceptance: Delivery terms, timelines, and acceptance procedures
9. Quality Requirements: Quality standards, specifications, and compliance requirements
10. Warranties: Supplier warranties regarding products/services and performance
11. Performance Metrics: Key performance indicators and measurement criteria
12. Supplier Obligations: Key responsibilities and commitments of the supplier
13. Customer Obligations: Key responsibilities and commitments of the customer
14. Confidentiality: Protection of confidential information
15. Intellectual Property: IP rights and ownership provisions
16. Liability and Indemnification: Limitation of liability and indemnification provisions
17. Termination: Termination rights and procedures
18. Force Majeure: Provisions for unforeseen circumstances and their handling
19. Governing Law and Jurisdiction: Application of Nigerian law and dispute resolution
20. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment
1. Insurance: Specific insurance requirements - include when high-value goods or services are involved
2. Compliance with Anti-Corruption Laws: Detailed anti-corruption provisions - include for international transactions or high-value contracts
3. Environmental Compliance: Environmental standards and requirements - include for manufacturing or environmentally sensitive supplies
4. Data Protection: Data handling and privacy requirements - include when personal data processing is involved
5. Import/Export Compliance: Trade compliance provisions - include for international supply arrangements
6. Business Continuity: Business continuity and disaster recovery - include for critical supply relationships
7. Subcontracting: Rules for subcontracting - include when supplier may need to subcontract
8. Training and Support: Training and technical support provisions - include for complex products or services
9. Change Control: Procedures for managing changes - include for long-term or complex supply arrangements
10. Local Content Requirements: Nigerian local content requirements - include for regulated industries like oil and gas
1. Schedule 1 - Products/Services Specification: Detailed description of products or services to be supplied
2. Schedule 2 - Pricing Schedule: Detailed pricing structure, including any volume discounts or pricing mechanisms
3. Schedule 3 - Service Levels: Detailed service level requirements and KPIs
4. Schedule 4 - Order Form Template: Standard form for placing orders under the agreement
5. Schedule 5 - Technical Requirements: Detailed technical specifications and standards
6. Schedule 6 - Contact Details: Key contact persons and communication protocols
7. Schedule 7 - Locations: Delivery locations and any location-specific requirements
8. Schedule 8 - Reporting Requirements: Format and frequency of performance reports
9. Schedule 9 - Business Continuity Plan: Detailed business continuity procedures
10. Schedule 10 - Transition Plan: Implementation and transition requirements
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