The Simple Business Agreement Contract serves as a foundational document for establishing business relationships in Nigeria, particularly suitable for small to medium-sized enterprises and routine commercial arrangements. This contract type is designed to meet the requirements of Nigerian contract law while remaining accessible and practical for everyday business use. It incorporates essential provisions required by Nigerian legislation, including the Companies and Allied Matters Act (CAMA) 2020 and relevant commercial laws. The document is particularly valuable for businesses seeking to formalize their relationships without the complexity of more specialized agreements, providing a clear framework for terms, conditions, obligations, and dispute resolution mechanisms. It can be adapted for various business contexts while maintaining its core legal integrity under Nigerian jurisdiction.
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1. Parties: Identifies and provides full details of all parties entering into the agreement, including registration numbers for companies
2. Background: Sets out the context and purpose of the agreement, including any relevant history or relationships between the parties
3. Definitions: Defines key terms used throughout the agreement to ensure clear interpretation
4. Scope of Agreement: Outlines the specific business relationship, services, or goods covered by the agreement
5. Duration and Term: Specifies the commencement date and duration of the agreement, including any renewal terms
6. Payment Terms: Details the pricing, payment schedule, invoicing requirements, and payment methods
7. Obligations of the Parties: Lists the specific duties and responsibilities of each party
8. Representations and Warranties: Contains standard assertions about the parties' capacity and authority to enter into the agreement
9. Termination: Specifies how and when the agreement can be terminated by either party
10. Confidentiality: Protects sensitive business information shared during the course of the agreement
11. Governing Law: Specifies Nigerian law as the governing law and jurisdiction for disputes
12. Execution: Formal signing section with date and witness requirements under Nigerian law
1. Force Majeure: Include when parties want protection from events beyond their control that could affect performance
2. Intellectual Property: Include when the agreement involves creation, licensing, or use of intellectual property
3. Insurance: Include when specific insurance coverage is required for the business relationship
4. Assignment: Include when parties need to address the transfer of rights or obligations
5. Non-Competition: Include when parties want to restrict competitive activities
6. Dispute Resolution: Include when parties want to specify alternative dispute resolution methods before litigation
7. Data Protection: Include when personal data processing is involved in the business relationship
8. Change Control: Include when the agreement may need formal procedures for making changes to scope or terms
1. Schedule 1 - Services/Products: Detailed description of services or products covered by the agreement
2. Schedule 2 - Pricing Structure: Detailed breakdown of prices, rates, or fees
3. Schedule 3 - Service Levels: Performance metrics and standards if applicable
4. Schedule 4 - Key Personnel: List of key contacts and responsible personnel from each party
5. Appendix A - Required Forms: Standard forms or templates to be used during the contract period
6. Appendix B - Technical Requirements: Technical specifications or requirements if applicable
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