Business Percentage Agreement Template for Nigeria

1. Non-Competition: Restrictions on competing businesses, used when parties may have competing interests

2. Intellectual Property Rights: IP ownership and licensing terms, included when IP is involved in the business relationship

3. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in volatile markets

4. Assignment and Succession: Rules for transferring rights under the agreement, important for larger businesses

5. Insurance Requirements: Mandatory insurance coverage, needed for high-risk business activities

6. Regulatory Compliance: Specific regulatory obligations, required for regulated industries

7. Environmental Compliance: Environmental protection measures, necessary for businesses with environmental impact

8. Local Content Requirements: Compliance with Nigerian local content laws, relevant for certain industries

1. Schedule 1 - Calculation Methodology: Detailed formula and examples for percentage calculations

2. Schedule 2 - Payment Procedures: Step-by-step process for payment calculations and transfers

3. Schedule 3 - Reporting Templates: Standard forms for financial reporting and reconciliation

4. Schedule 4 - Key Performance Indicators: Metrics for measuring business performance

5. Schedule 5 - Authorized Representatives: List of designated representatives for each party

6. Appendix A - Required Documentation: List of documents required for verification and compliance

7. Appendix B - Audit Procedures: Detailed procedures for conducting financial audits