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1. Parties: Identifies and provides full details of all parties to the contract, including names, addresses, and any relevant identification numbers
2. Background: Sets out the context and circumstances leading to the agreement
3. Definitions: Defines key terms used throughout the agreement to ensure clarity and prevent ambiguity
4. Subject Matter: Clearly states the primary purpose and scope of the agreement
5. Obligations of First Party: Details the duties, responsibilities, and commitments of the first party
6. Obligations of Second Party: Details the duties, responsibilities, and commitments of the second party
7. Duration: Specifies the term of the agreement, including start date and end date if applicable
8. Payment Terms: Details any financial arrangements, including amounts, payment schedules, and payment methods
9. Termination: Specifies how and under what circumstances the agreement can be terminated
10. Governing Law: Confirms that Nigerian law governs the agreement
11. Dispute Resolution: Outlines the process for resolving any disputes that may arise
12. Signatures: Space for parties to execute the agreement, including provision for witnesses as required under Nigerian law
1. Confidentiality: Include when the agreement involves sharing of sensitive or private information
2. Force Majeure: Include when external circumstances might affect performance of obligations
3. Assignment: Include when there's a need to address whether rights can be transferred to other parties
4. Notices: Include when formal communications between parties need to be regulated
5. Warranties and Representations: Include when specific assurances need to be given by either party
6. Insurance: Include when specific insurance coverage is required
7. Indemnification: Include when one party needs to protect the other against specific losses
8. Amendment Procedure: Include when flexibility for future changes needs to be built into the agreement
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment amounts, dates, and methods if applicable
2. Schedule 2 - Specific Deliverables: Detailed list of items, services, or outcomes to be delivered under the agreement
3. Schedule 3 - Timeline: Detailed timeline of key dates and milestones
4. Appendix A - Required Documents: List of documents that need to be attached or referenced
5. Appendix B - Contact Details: Comprehensive contact information for all parties and relevant representatives
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