Document background
The Exclusive Commission Agreement is a critical commercial document used when a business (principal) wishes to appoint an exclusive representative (agent) to promote and sell their products or services in Nigeria. This agreement type is particularly important in the Nigerian market where local representation is often essential for business success. The document addresses key aspects including commission structures, exclusivity terms, territorial rights, performance metrics, and compliance with Nigerian commercial law. It's specifically designed to protect both parties' interests while ensuring compliance with Nigerian regulatory requirements, including the Commercial Agency Agreements Act and competition laws. The agreement is commonly used for establishing long-term commercial relationships and includes provisions for performance monitoring, payment terms, and dispute resolution under Nigerian jurisdiction.
