Document background
The Long Term Supplier Agreement is designed for businesses requiring a structured, ongoing supply relationship in Nigeria. This document is essential when parties intend to establish a sustained business relationship involving regular supply of goods or services over an extended period, typically one year or more. It addresses crucial elements required under Nigerian law and commercial practice, including local content requirements, foreign exchange considerations, and specific industry regulations. The agreement is particularly valuable for businesses seeking to ensure supply security, price stability, and quality consistency while maintaining compliance with Nigerian regulatory requirements. It includes comprehensive provisions for supply obligations, quality standards, pricing mechanisms, performance metrics, and risk allocation, making it suitable for both domestic and international trade relationships within the Nigerian context.
