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Third Party Management Agreement
"I need a Third Party Management Agreement for outsourcing our factory facility management in Lagos, Nigeria to a professional services company, with the agreement starting January 2025 and including specific KPIs for maintenance efficiency and cost control."
1. Parties: Identification of the principal company and the third-party manager, including full legal names, registration numbers, and registered addresses
2. Background: Context of the agreement, business rationale, and relationship between the parties
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. Appointment and Scope: Formal appointment of the manager and detailed scope of management services
5. Term and Termination: Duration of the agreement, renewal terms, and termination conditions
6. Manager's Obligations: Detailed responsibilities and duties of the third-party manager
7. Principal's Obligations: Responsibilities and duties of the principal company
8. Fees and Payment Terms: Management fees, payment schedule, expenses, and invoicing procedures
9. Performance Standards: Key performance indicators, service levels, and quality standards
10. Reporting and Oversight: Reporting requirements, monitoring procedures, and oversight mechanisms
11. Compliance and Regulations: Compliance obligations with Nigerian laws and regulations
12. Confidentiality: Protection and handling of confidential information
13. Intellectual Property: Ownership and usage rights of intellectual property
14. Liability and Indemnification: Limitation of liability and indemnification provisions
15. Force Majeure: Provisions for unforeseen circumstances and force majeure events
16. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law
17. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment
1. Staff and Employment: Include when the manager will be handling staff or employment matters
2. Insurance: Detailed insurance requirements when specific coverage is needed for high-risk activities
3. Data Protection: Include when personal data processing is involved in the management services
4. Anti-Corruption Compliance: Detailed anti-corruption provisions for high-risk industries or government-related work
5. Foreign Exchange: Include when the agreement involves international payments or currency considerations
6. Environmental Compliance: Include for industries with environmental impact or regulations
7. Security Requirements: Include when handling sensitive information or physical security is required
8. Business Continuity: Include for critical services requiring disaster recovery planning
9. Transition Services: Include when specific provisions for handover at termination are needed
1. Schedule 1 - Services Description: Detailed description of management services and deliverables
2. Schedule 2 - Fee Structure: Detailed breakdown of fees, charges, and payment calculations
3. Schedule 3 - Key Performance Indicators: Specific performance metrics and measurement criteria
4. Schedule 4 - Required Reports: List and templates of required reports and reporting frequencies
5. Schedule 5 - Key Personnel: Details of key management personnel and their roles
6. Schedule 6 - Compliance Requirements: Specific regulatory and compliance requirements
7. Schedule 7 - Service Levels: Detailed service level requirements and measurements
8. Appendix A - Emergency Contacts: List of emergency contacts and escalation procedures
9. Appendix B - Approved Subcontractors: List of pre-approved subcontractors if applicable
10. Appendix C - Required Insurance: Specific insurance requirements and coverage levels
Authors
Manufacturing
Real Estate
Hospitality
Healthcare
Retail
Oil and Gas
Technology
Agriculture
Financial Services
Transportation and Logistics
Education
Telecommunications
Construction
Mining
Legal
Operations
Procurement
Finance
Risk and Compliance
Facilities Management
Project Management
Business Development
Human Resources
Corporate Affairs
Chief Executive Officer
Chief Operating Officer
General Counsel
Legal Director
Operations Manager
Facility Manager
Property Manager
Contract Manager
Procurement Manager
Risk Manager
Compliance Officer
Project Manager
Business Development Manager
Finance Director
Human Resources Director
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