Ƶ

Commercial Contract for Nigeria

Commercial Contract Template for Nigeria

A comprehensive legal document governed by Nigerian law that establishes and defines commercial relationships between business entities. This contract incorporates elements of Nigerian Common Law principles, the Companies and Allied Matters Act (CAMA) 2020, and other relevant Nigerian commercial legislation. It provides a structured framework for business transactions, detailing rights, obligations, financial terms, and risk allocation between parties, while ensuring compliance with Nigerian regulatory requirements and business practices. The document includes provisions for dispute resolution, termination, and various commercial protections suitable for the Nigerian business environment.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Commercial Contract

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Commercial Contract?

The Commercial Contract serves as a fundamental legal instrument for business transactions in Nigeria, designed to formalize and govern commercial relationships between various business entities. This document type is essential for companies operating in Nigeria's dynamic business environment, whether they are local enterprises or international companies engaging in cross-border transactions. The contract structure reflects Nigeria's common law heritage while incorporating modern commercial practices and local regulatory requirements, including compliance with the Companies and Allied Matters Act (CAMA) 2020 and other relevant legislation. It is particularly valuable for businesses seeking to establish clear, enforceable terms for their commercial relationships, providing comprehensive coverage of essential elements such as scope of work, payment terms, performance obligations, risk allocation, and dispute resolution mechanisms within the Nigerian legal framework.

What sections should be included in a Commercial Contract?

1. Parties: Identification of contracting parties with full legal names, registration numbers, and registered addresses as per CAMA 2020 requirements

2. Background: Recitals explaining the context and purpose of the agreement, including any relevant business relationship history

3. Definitions: Comprehensive list of defined terms used throughout the agreement for clarity and consistency

4. Scope of Agreement: Detailed description of the commercial arrangement, including goods/services to be provided

5. Duration and Term: Contract period, commencement date, and any renewal provisions

6. Financial Terms: Pricing, payment terms, invoicing requirements, and currency specifications

7. Obligations of the Parties: Detailed responsibilities and commitments of each party

8. Representations and Warranties: Standard commercial warranties and representations from each party

9. Liability and Indemnification: Allocation of risks, limitation of liability, and indemnification provisions

10. Termination: Grounds for termination, notice requirements, and consequences of termination

11. Confidentiality: Protection of confidential information and trade secrets

12. Force Majeure: Events excusing performance and procedures for handling force majeure situations

13. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law

14. General Provisions: Standard boilerplate clauses including notices, assignment, and entire agreement

What sections are optional to include in a Commercial Contract?

1. Intellectual Property Rights: Required when the contract involves creation, licensing, or use of intellectual property

2. Data Protection: Necessary when personal data processing is involved in the commercial relationship

3. Insurance: Required for high-value contracts or where specific risks need to be insured

4. Performance Guarantees: Used when specific performance metrics or service levels need to be maintained

5. Change Control: Important for long-term contracts where scope or specifications might need adjustment

6. Anti-Corruption Compliance: Essential for contracts with international parties or government entities

7. Export Control: Required when dealing with international trade or restricted goods

8. Local Content Requirements: Necessary for contracts in regulated sectors subject to Nigerian local content laws

9. Step-In Rights: Used in critical service contracts where service continuity is essential

10. Environmental Compliance: Required for contracts involving environmental impacts or regulated activities

What schedules should be included in a Commercial Contract?

1. Schedule 1 - Scope of Work: Detailed technical specifications or service descriptions

2. Schedule 2 - Pricing and Payment Terms: Detailed pricing structures, payment milestones, and financial terms

3. Schedule 3 - Service Levels: Performance metrics and measurement criteria

4. Schedule 4 - Key Personnel: List of key staff and their roles/responsibilities

5. Schedule 5 - Compliance Requirements: Specific regulatory or compliance obligations

6. Schedule 6 - Form of Performance Bond: Template for any required performance guarantees

7. Schedule 7 - Change Request Form: Standard form for requesting and documenting changes

8. Appendix A - Required Insurances: Details of insurance requirements and coverage levels

9. Appendix B - Technical Standards: Applicable technical or industry standards

10. Appendix C - Contact Details: Key contact information for both parties

Authors

Alex Denne

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

Jurisdiction

Nigeria

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions















































Clauses



















































Relevant Industries

Manufacturing

Oil and Gas

Technology

Financial Services

Telecommunications

Agriculture

Construction

Retail and Distribution

Transportation and Logistics

Healthcare

Real Estate

Mining

Energy

Professional Services

Entertainment and Media

Relevant Teams

Legal

Commercial

Procurement

Finance

Operations

Business Development

Risk and Compliance

Sales

Corporate Affairs

Project Management

Relevant Roles

Chief Executive Officer

Managing Director

Commercial Director

Legal Counsel

Contract Manager

Business Development Manager

Chief Financial Officer

Procurement Manager

Operations Director

Risk Manager

Compliance Officer

Project Manager

Sales Director

General Counsel

Company Secretary

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

Find the exact document you need

Business Agreement

A legally binding document under Nigerian law that establishes terms and conditions for business relationships between parties, ensuring compliance with local regulations and protecting all parties' interests.

find out more

House Rent Agreement Form

A Nigerian law-compliant agreement establishing terms and conditions for residential property rental between landlord and tenant.

find out more

Consignment Agreement Form

A Nigerian law-governed agreement establishing terms for consignment sales arrangements, detailing rights and obligations of consignor and consignee.

find out more

General Tenancy Agreement

A Nigerian law-compliant agreement establishing terms and conditions for property rental between landlord and tenant, governed by the Recovery of Premises Act and state rent control laws.

find out more

Standard Form Contract

A standardized contract template compliant with Nigerian law, designed for repeated use in similar business transactions.

find out more

Money Agreement Between Two Parties

A Nigerian law-governed agreement establishing terms and conditions for a monetary loan between two parties, including loan amount, interest rates, and repayment terms.

find out more

Side Agreement

A supplementary contract under Nigerian law that modifies or adds to an existing agreement's terms while maintaining compliance with Nigerian legal requirements.

find out more

Mutual Agreement Between Two Parties

A bilateral agreement under Nigerian law establishing mutual rights and obligations between two parties, with comprehensive terms for business collaboration.

find out more

Incorporation Agreement

A Nigerian law-governed agreement establishing a new company's structure, shareholding, and governance framework under CAMA 2020.

find out more

Fixed Term Tenancy Agreement

A Nigerian law-governed agreement establishing terms and conditions for fixed-term property rental, defining rights and obligations of landlord and tenant.

find out more

Casual Worker Contract

A Nigerian law-compliant contract establishing terms and conditions for casual employment relationships with flexible working arrangements.

find out more

Boilerplate Agreement

A versatile Boilerplate Agreement template under Nigerian law, providing standardized terms for business relationships while ensuring compliance with local legal requirements.

find out more

Tooling Agreement

A Nigerian law-governed agreement establishing terms for industrial tooling equipment, including design, manufacture, use, maintenance, and ownership rights.

find out more

Representation Agreement

A Nigerian law-governed agreement establishing and regulating the relationship between a principal and their appointed representative, defining authority, terms, and obligations.

find out more

Notary Rent Agreement

A legally authenticated rental agreement under Nigerian law, executed before a Notary Public, establishing terms and conditions for property rental.

find out more

Land Agreement Between Two Parties

A Nigerian law-governed agreement for land transfer between two parties, ensuring compliance with the Land Use Act and state regulations.

find out more

Contract Agreement Between Two Parties

A standard Nigerian law-compliant contract agreement template for establishing legal relationships between two parties, incorporating all essential elements required under Nigerian contract law.

find out more

Common Terms Agreement

A Nigerian-law governed agreement establishing standard terms for syndicated lending transactions, harmonizing multiple facility agreements under one master document.

find out more

Buyer Agency Agreement

A Nigerian law-governed agreement establishing the terms and conditions under which a real estate agent represents a buyer in property transactions.

find out more

Contra Agreement

A Nigerian law-governed agreement establishing terms and conditions between a service provider and recipient, defining service scope, obligations, and mutual responsibilities.

find out more

Security Agreement Form

A Nigerian law-governed agreement creating and evidencing security interests over assets, establishing rights and obligations between security provider and holder.

find out more

House Construction Agreement Between Owner Contractor

A Nigerian law-governed agreement between property owner and contractor for residential house construction, defining work scope, terms, and obligations.

find out more

Lodger Agreement

A Nigerian law-governed agreement establishing terms for a lodger's occupation of a room in an owner-occupied property.

find out more

Head Of Terms Agreement

A preliminary agreement under Nigerian law outlining key commercial and legal terms for a proposed transaction or business arrangement.

find out more

Professional Services Retainer Agreement

A Nigerian law-governed agreement establishing terms for ongoing professional services provided on a retainer basis.

find out more

Supply Contract Form

A Nigerian law-governed contract template establishing terms and conditions for the supply of goods between commercial parties.

find out more

Business Contract

A Nigerian business contract template for commercial relationships, compliant with CAMA 2020 and Nigerian commercial law.

find out more

Bike Sale Agreement

A Nigerian law-governed agreement for the sale and purchase of a bike, ensuring legal compliance and protecting both parties' interests.

find out more

Umbrella Agreement

A Nigerian law-governed master agreement establishing framework terms for future specific agreements between parties.

find out more

Share Purchase Agreement

A Nigerian law-governed agreement documenting the terms and conditions for the sale and purchase of shares in a company, including price, warranties, and completion requirements.

find out more

Work Contract

A Nigerian law-governed employment agreement establishing terms and conditions between employer and employee, ensuring compliance with local labor legislation.

find out more

Volunteer Contract

A Nigerian law-governed agreement establishing the terms and conditions of a voluntary service relationship between an organization and a volunteer.

find out more

Voluntary Service Agreement

A Nigerian law-governed agreement establishing the terms and conditions between an organization and a volunteer, outlining responsibilities and protections for both parties.

find out more

Virtual Assistant Contract

A Nigerian law-governed agreement establishing terms and conditions for virtual assistant services, including scope, compensation, and compliance requirements.

find out more

Vendor Services Agreement

Nigerian law-governed agreement defining terms and conditions for vendor service provision, including scope, payment, and performance standards.

find out more

Vendor Contract

A Nigerian law-governed agreement establishing terms and conditions between a customer and vendor for the supply of goods/services.

find out more

Vending Machine Agreement

A Nigerian law agreement governing the installation and operation of vending machines, including revenue sharing and operational requirements.

find out more

Vehicle Agreement Between Two Parties

A legally binding vehicle sale and purchase agreement between two parties under Nigerian law, documenting transfer terms and ownership rights.

find out more

Trust Contract

A Nigerian law-governed document establishing a trust arrangement between settlor, trustees, and beneficiaries, defining asset management and distribution terms.

find out more

Tripartite Contract

A Nigerian law-governed tripartite contract establishing legal relationships and obligations between three parties in a commercial arrangement.

find out more
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s 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