Purchase Order Financing Agreement Template for Nigeria

1. Parties: Identifies the finance provider, the client (borrower), and any guarantors

2. Background: Sets out the context of the agreement, including the client's business and purpose of the financing

3. Definitions and Interpretation: Defines key terms used throughout the agreement and interpretation rules

4. Facility and Purpose: Details of the financing facility, including amount, purpose, and disbursement mechanisms

5. Conditions Precedent: Prerequisites that must be satisfied before the facility becomes available

6. Purchase Order Requirements: Criteria for eligible purchase orders and verification procedures

7. Representations and Warranties: Standard and specific declarations made by the client regarding their business and the transaction

8. Security and Collateral: Details of security arrangements and collateral requirements

9. Disbursement Mechanics: Process for requesting and receiving financing against purchase orders

10. Fees and Interest: All charges, interest rates, and payment terms

11. Repayment Terms: Repayment schedule and mechanisms

12. Covenants: Ongoing obligations of the client during the facility term

13. Events of Default: Circumstances constituting default and consequences

14. Enforcement Rights: Lender's rights and remedies upon default

15. Governing Law and Jurisdiction: Confirms Nigerian law as governing law and jurisdiction for disputes

16. Boilerplate Provisions: Standard contractual provisions including notices, amendments, and assignment

1. Schedule 1 - Facility Terms: Detailed commercial terms including limits, rates, and fees

2. Schedule 2 - Form of Drawdown Request: Template for requesting disbursements under the facility

3. Schedule 3 - Conditions Precedent Documents: List of required documents and conditions

4. Schedule 4 - Eligible Purchase Order Criteria: Detailed criteria for acceptable purchase orders

5. Schedule 5 - Security Documents: List and copies of all security documents

6. Schedule 6 - Reporting Requirements: Templates and requirements for periodic reporting

7. Appendix A - Approved Buyers List: List of pre-approved buyers whose purchase orders can be financed

8. Appendix B - Processing Fees Schedule: Detailed breakdown of all applicable fees and charges