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1. Parties: Identification and details of the contracting parties, including registration numbers and addresses
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Definitions of key terms used throughout the contract
4. Payment Terms: Core payment obligations, amounts, currency, and payment schedule
5. Payment Methods: Approved methods of payment and processing procedures
6. Security and Authentication: Security measures for payment processing and verification requirements
7. Default and Remedies: Consequences of payment default and available remedies
8. Force Majeure: Circumstances excusing payment delays or failures
9. Confidentiality: Protection of payment information and transaction details
10. Dispute Resolution: Procedures for resolving payment-related disputes
11. Governing Law: Specification of Nigerian law as governing law and jurisdiction
12. Term and Termination: Duration of the agreement and termination provisions
13. Notices: Methods and addresses for formal communications
14. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and assignment
1. Foreign Exchange Provisions: Required when payments involve foreign currency transactions
2. Electronic Payment Systems: Detailed provisions for electronic payment methods and platforms
3. Bank Guarantees: Terms for any required payment guarantees or security
4. Performance Metrics: Service levels and performance standards for payment processing
5. Regulatory Compliance: Specific compliance requirements for regulated industries
6. Tax Provisions: Detailed tax handling and withholding requirements
7. Third-Party Payment Processors: Terms governing use of payment processing services
8. Data Protection: Enhanced data protection provisions for payment information
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment amounts, dates, and milestones
2. Schedule 2 - Approved Payment Methods: List of accepted payment methods and associated procedures
3. Schedule 3 - Security Protocols: Technical specifications for payment security measures
4. Schedule 4 - Service Level Agreement: Performance metrics for payment processing
5. Schedule 5 - Contact Details: Key contacts for payment processing and issue resolution
6. Appendix A - Required Forms: Standard forms for payment authorization and verification
7. Appendix B - Compliance Checklist: Regulatory compliance requirements and documentation
8. Appendix C - Fee Schedule: Breakdown of any applicable transaction fees or charges
Banking Day
Business Day
Confidential Information
Contract Currency
Default Event
Due Date
Electronic Payment
Force Majeure Event
Interest Rate
Invoice
Material Adverse Change
Payment Amount
Payment Date
Payment Instructions
Payment Method
Payment Platform
Payment Processing Fee
Payment Provider
Payment Schedule
Payment Security Procedures
Payment Services
Payment System
Payment Terms
Regulatory Authority
Security Credentials
Settlement Date
Transaction
Transaction Currency
Transaction Records
Value Date
Working Hours
Nigerian Naira
Bank Account
Banking Details
Designated Account
Electronic Funds Transfer
Mobile Payment
Online Banking
Payment Channel
Payment Gateway
Payment Portal
Point of Sale
Service Level Requirements
Settlement Period
Standing Order
Valid Invoice
Payment Methods
Payment Security
Default and Remedies
Force Majeure
Confidentiality
Dispute Resolution
Governing Law
Representations and Warranties
Indemnification
Assignment
Termination
Notices
Amendment
Severability
Entire Agreement
Currency and Exchange
Electronic Payments
Bank Accounts
Transaction Records
Security Procedures
Data Protection
Regulatory Compliance
Anti-Money Laundering
Service Levels
Performance Standards
Audit Rights
Insurance
Interest and Penalties
Third-Party Rights
Counterparts
Further Assurance
Financial Services
Banking
Retail
E-commerce
Technology
Telecommunications
Manufacturing
Healthcare
Education
Government Services
Oil and Gas
Agriculture
Construction
Professional Services
Hospitality
Legal
Finance
Procurement
Compliance
Treasury
Accounts Payable
Risk Management
Operations
Commercial
Vendor Management
Payment Operations
Business Development
Finance Manager
Legal Counsel
Compliance Officer
Commercial Director
Procurement Manager
Accounts Payable Manager
Treasury Manager
Contract Administrator
Financial Controller
Risk Manager
Operations Director
Business Development Manager
Chief Financial Officer
Payment Solutions Manager
Vendor Relations Manager
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