Fixed Fee Agreement Template for Nigeria

The Fixed Fee Agreement is essential for business transactions in Nigeria where parties wish to establish clear, predetermined pricing for specific services or deliverables. This document is commonly used when there is a well-defined scope of work that can be accurately priced upfront, providing cost certainty for both parties. It's particularly valuable in professional services, consulting, and project-based work where the deliverables can be clearly specified. The agreement complies with Nigerian contract law and includes all necessary elements for enforceability under local jurisdiction. It helps prevent misunderstandings about costs and scope, reduces the risk of payment disputes, and provides a clear framework for project delivery and acceptance criteria.

1. Parties: Identifies and provides full details of all parties to the agreement

2. Background: Provides context and purpose of the agreement

3. Definitions: Defines key terms used throughout the agreement

4. Scope of Services: Detailed description of services to be provided under the fixed fee arrangement

5. Fixed Fee and Payment Terms: Specifies the fixed fee amount, payment schedule, and payment methods

6. Timeline and Deliverables: Sets out the project timeline and specific deliverables

7. Obligations of Service Provider: Details the responsibilities and commitments of the service provider

8. Client Obligations: Specifies what the client must do to facilitate the service delivery

9. Term and Termination: Duration of the agreement and circumstances for termination

10. Warranties and Representations: Standard warranties from both parties

11. Limitation of Liability: Caps on liability and exclusions

12. Force Majeure: Provisions for unforeseen circumstances preventing performance

13. Governing Law and Jurisdiction: Confirms Nigerian law applies and specifies jurisdiction for disputes

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