Management Fee Agreement Template for Nigeria

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Key Requirements PROMPT example:

Management Fee Agreement

"I need a Management Fee Agreement under Nigerian law for our parent company to provide strategic management services to our local subsidiary, including quarterly reporting requirements and performance metrics, with services to commence from March 1, 2025."

Document background

The Management Fee Agreement is essential in Nigerian business operations where one entity provides management expertise, strategic guidance, or administrative services to another entity in exchange for fees. This document is commonly used in corporate group structures, professional management arrangements, and cross-border service relationships. It must address specific Nigerian regulatory requirements, including Companies and Allied Matters Act (CAMA) 2020 compliance, tax implications (particularly the 10% withholding tax on management fees), and Central Bank of Nigeria regulations for foreign currency payments if applicable. The agreement typically details service scope, performance standards, fee calculations, payment terms, and compliance obligations, making it crucial for establishing clear management relationships while ensuring regulatory compliance.

Suggested Sections

1. Parties: Identification of the service provider (management company) and the recipient company

2. Background: Context of the agreement and brief description of the parties' business relationship

3. Definitions: Key terms used throughout the agreement

4. Appointment and Scope: Formal appointment of the management company and overview of services to be provided

5. Management Services: Detailed description of the management services to be provided

6. Term: Duration of the agreement, including commencement date and renewal provisions

7. Management Fees: Fee structure, calculation method, and payment terms

8. Payment Terms: Timing of payments, currency, invoicing requirements, and payment methods

9. Tax Provisions: Treatment of VAT, withholding tax, and other applicable taxes

10. Obligations of the Service Provider: Duties and responsibilities of the management company

11. Obligations of the Recipient: Duties and responsibilities of the receiving company

12. Representations and Warranties: Standard warranties about capacity and authority to enter into agreement

13. Termination: Circumstances under which the agreement can be terminated and the process

14. Confidentiality: Protection of confidential information exchanged during the provision of services

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

Optional Sections

1. Force Majeure: Provisions for circumstances beyond parties' control - important in volatile markets

2. Anti-Corruption and Compliance: Specific provisions regarding compliance with anti-corruption laws - essential if dealing with public sector or international parties

3. Insurance: Requirements for professional indemnity and other relevant insurance coverage

4. Intellectual Property Rights: Provisions regarding ownership and use of IP if services involve creation or use of intellectual property

5. Non-Competition: Restrictions on competing activities - relevant if management has access to sensitive business information

6. Assignment and Subcontracting: Rights to assign or subcontract services - important for larger management companies

7. Staff and Secondment: Provisions regarding personnel if management services include staff secondment

Suggested Schedules

1. Schedule 1 - Management Services: Detailed breakdown of all management services to be provided

2. Schedule 2 - Fee Calculation: Detailed methodology for calculating management fees, including any performance metrics

3. Schedule 3 - Key Personnel: List of key management personnel and their roles if specific individuals are critical to the services

4. Schedule 4 - Service Levels: Performance standards and metrics for measuring service delivery

5. Schedule 5 - Compliance Requirements: Specific regulatory and compliance requirements applicable to the services

6. Appendix A - Reporting Requirements: Format and frequency of management reports to be provided

7. Appendix B - Invoice Format: Prescribed format for invoices to ensure compliance with Nigerian tax requirements

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

Financial Services

Oil and Gas

Manufacturing

Telecommunications

Real Estate

Hospitality

Mining

Agriculture

Retail

Technology

Healthcare

Construction

Professional Services

Infrastructure

Energy

Relevant Teams

Legal

Finance

Corporate Services

Tax

Compliance

Operations

Strategy

Commercial

Treasury

Corporate Governance

Business Development

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Managing Director

Legal Counsel

Corporate Secretary

Finance Director

Operations Director

Tax Manager

Compliance Officer

Group Financial Controller

Business Development Manager

Corporate Services Manager

Commercial Director

Head of Strategy

General Counsel

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

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Let's create your Management Fee Agreement

Authors

Alex Denne

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