Intermediary Fee Agreement Template for Nigeria

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Key Requirements PROMPT example:

Intermediary Fee Agreement

"I need an Intermediary Fee Agreement under Nigerian law for appointing a local agent to facilitate oil equipment sales in Lagos, with a 5% commission structure and quarterly performance reviews starting March 2025."

Document background

The Intermediary Fee Agreement is essential for businesses operating in Nigeria who engage third parties to facilitate their operations, transactions, or market presence. This document type is particularly crucial given Nigeria's complex business environment and strict regulatory framework regarding intermediary relationships. The agreement typically details the scope of intermediary services, fee structures, payment terms, and compliance requirements, while ensuring alignment with Nigerian legislation including anti-corruption laws, financial regulations, and corporate governance requirements. It's commonly used when engaging local representatives, agents, or consultants for business facilitation, market entry, or ongoing operational support, and includes specific provisions to protect both parties while ensuring transparent and compliant business practices.

Suggested Sections

1. Parties: Identification and details of the principal and the intermediary, including registration numbers and addresses

2. Background: Context of the agreement, relationship between parties, and purpose of the intermediary arrangement

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Scope: Terms of intermediary appointment and detailed scope of services to be provided

5. Intermediary's Obligations: Detailed responsibilities and duties of the intermediary, including reporting requirements

6. Principal's Obligations: Responsibilities and commitments of the principal party

7. Fees and Payment Terms: Structure of fees, payment schedule, currency, and payment methods

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

9. Compliance and Anti-Corruption: Compliance obligations, anti-bribery provisions, and related warranties

10. Confidentiality: Provisions regarding confidential information and trade secrets

11. Representations and Warranties: Standard and specific warranties from both parties

12. Limitation of Liability: Scope and limits of each party's liability

13. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law

Optional Sections

1. Exclusivity: Terms of exclusive arrangement, if the intermediary is granted exclusive rights

2. Performance Targets: Specific performance metrics and consequences of meeting or missing targets

3. Insurance: Insurance requirements for the intermediary, if required

4. Intellectual Property: IP rights and usage if relevant to the services

5. Data Protection: Data handling and privacy requirements if personal data is processed

6. Force Majeure: Provisions for unforeseen circumstances preventing performance

7. Non-Competition: Restrictions on competing activities during and after the agreement

8. Training and Support: Details of any training or support provided by the principal

9. Dispute Resolution: Specific dispute resolution procedures beyond standard court jurisdiction

Suggested Schedules

1. Schedule 1 - Services Description: Detailed description of intermediary services and deliverables

2. Schedule 2 - Fee Structure: Detailed breakdown of fees, commission rates, and calculation methods

3. Schedule 3 - Payment Procedures: Specific procedures for invoicing and payment processing

4. Schedule 4 - Compliance Requirements: Detailed compliance procedures and anti-corruption requirements

5. Schedule 5 - Reporting Templates: Standard forms for activity reporting and documentation

6. Schedule 6 - Territory Definition: Definition of geographical area or market segment covered

7. Appendix A - Required Certifications: List of required licenses, permits, or certifications

8. Appendix B - Key Personnel: Details of key personnel involved in providing the services

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Oil and Gas

Manufacturing

International Trade

Construction

Telecommunications

Financial Services

Technology

Real Estate

Infrastructure

Healthcare

Agriculture

Mining

Professional Services

Retail and Distribution

Relevant Teams

Legal

Compliance

Finance

Commercial

Business Development

Operations

Procurement

Risk Management

Sales

Internal Audit

Corporate Affairs

Relevant Roles

Chief Executive Officer

Commercial Director

Legal Counsel

Compliance Officer

Finance Director

Business Development Manager

Operations Manager

Procurement Manager

Contract Manager

Risk Manager

Country Manager

Sales Director

Regional Director

General Counsel

Chief Financial Officer

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Cost And Fee Contract

A Nigerian law-governed agreement establishing a cost-plus-fee arrangement between parties, detailing cost recovery and fee calculations with local regulatory compliance.

How Genie AI reduced drafting time by 75% for a legal firm

Let's create your Intermediary Fee Agreement

Authors

Alex Denne

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