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Sell Agreement Template for Nigeria

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Key Requirements PROMPT example:

Sell Agreement

"I need a Sale Agreement for my manufacturing company to sell industrial machinery worth ₦50 million to a Lagos-based construction company, with delivery scheduled for March 2025 and payment in three installments."

Document background
The Sale Agreement is a fundamental commercial contract used in Nigerian business transactions to formalize the sale and purchase of goods. This document is essential when parties need to clearly document the terms of a sale transaction, whether for a one-time purchase or ongoing supply arrangement. The agreement must comply with Nigerian contract law principles and the Sale of Goods Act, making it suitable for both domestic and international trade (with appropriate modifications). A well-drafted Sale Agreement typically includes comprehensive details about the goods, price, payment terms, delivery arrangements, and risk allocation, while also addressing potential disputes through clear governance provisions. It's particularly important for high-value transactions, regulated industries, or when specific performance requirements need to be documented.
Suggested Sections

1. Parties: Identifies and provides full details of the seller and buyer, including registration details for companies or identification for individuals

2. Background: Sets out the context of the sale and brief description of the transaction

3. Definitions: Defines key terms used throughout the agreement

4. Sale and Purchase: Core terms of the sale including description of goods, quantity, and price

5. Payment Terms: Details of payment including amount, method, and timing

6. Delivery: Specifications for delivery including timing, location, and responsibility for costs

7. Title and Risk: When and how title passes to the buyer and allocation of risk

8. Warranties and Representations: Warranties regarding the goods and general representations by both parties

9. Termination: Circumstances under which the agreement can be terminated and consequences

10. Governing Law and Jurisdiction: Confirms Nigerian law governs and specifies jurisdiction for disputes

11. Entire Agreement: Confirms the agreement represents the entire understanding between parties

12. Execution: Signature blocks and execution formalities

Optional Sections

1. Quality Inspection: Used when buyer requires right to inspect goods before acceptance

2. Insurance: Include when specifying insurance requirements during transit or storage

3. Intellectual Property: Required when sale involves branded goods or licensed products

4. Confidentiality: Include when transaction involves sensitive commercial information

5. Force Majeure: Optional protection against unforeseen events preventing performance

6. Assignment: Include if parties want to restrict or permit transfer of rights

7. Export/Import Requirements: Required for international sales or regulated goods

8. VAT and Tax Provisions: Detailed tax terms when transaction has specific tax implications

Suggested Schedules

1. Schedule 1 - Description of Goods: Detailed specifications, quantities, and technical details of goods being sold

2. Schedule 2 - Price List: Detailed breakdown of prices, especially for multiple items or varying quantities

3. Schedule 3 - Delivery Schedule: Detailed delivery timelines, especially for multiple shipments

4. Schedule 4 - Quality Standards: Technical specifications and quality requirements

5. Schedule 5 - Warranty Terms: Detailed warranty terms and procedures

6. Appendix A - Required Documentation: List of documents required for the transaction (e.g., certificates of origin, quality certificates)

7. Appendix B - Testing Procedures: Details of any required testing or inspection procedures

Authors

Alex Denne

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

Relevant legal definitions































Clauses






























Relevant Industries

Retail

Manufacturing

Agriculture

Technology

Consumer Goods

Industrial Equipment

Automotive

Electronics

Textiles

Food and Beverage

Construction Materials

Medical Supplies

Energy

Mining

Relevant Teams

Legal

Commercial

Procurement

Sales

Operations

Finance

Compliance

Supply Chain

Risk Management

Business Development

Contract Administration

Relevant Roles

Legal Counsel

Commercial Director

Procurement Manager

Sales Manager

Contract Administrator

Business Development Manager

Operations Manager

Finance Manager

Compliance Officer

Supply Chain Manager

Trade Finance Manager

Risk Manager

Chief Commercial Officer

General Manager

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

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