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Advisory Agreement for Nigeria

Advisory Agreement Template for Nigeria

A comprehensive legal document governed by Nigerian law that establishes and regulates a professional advisory relationship between an advisor and a client. The agreement outlines the scope of advisory services, responsibilities of both parties, compensation terms, confidentiality obligations, and liability limitations. It ensures compliance with Nigerian regulatory requirements, including the Companies and Allied Matters Act (CAMA) 2020 and relevant professional services regulations, while providing a clear framework for the delivery of professional advisory services and protection of both parties' interests.

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What is a Advisory Agreement?

The Advisory Agreement is a crucial legal instrument used in Nigerian business practice to formalize professional advisory relationships and protect the interests of both advisors and their clients. This document is essential when engaging professional advisors for various services such as business consulting, financial advisory, technical consulting, or strategic planning. The agreement, governed by Nigerian law, typically includes detailed provisions on service scope, confidentiality, intellectual property rights, and liability limitations. It ensures compliance with Nigerian regulatory requirements, including the Companies and Allied Matters Act (CAMA) 2020, professional body regulations, and relevant industry-specific legislation. The Advisory Agreement is particularly important in the Nigerian context where professional services are increasingly specialized and regulatory oversight continues to evolve.

What sections should be included in a Advisory Agreement?

1. Parties: Identification of the advisor and the client, including full legal names, registration details, and addresses

2. Background: Context of the agreement, brief description of the advisor's expertise and client's requirements

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

4. Scope of Services: Detailed description of advisory services to be provided

5. Term and Termination: Duration of the agreement and conditions for termination

6. Fees and Payment Terms: Advisory fees, payment schedule, and payment methods

7. Obligations of the Advisor: Advisor's duties, responsibilities, and service standards

8. Obligations of the Client: Client's responsibilities, including provision of information and cooperation

9. Confidentiality: Obligations regarding confidential information and trade secrets

10. Intellectual Property: Ownership and usage rights of materials and deliverables

11. Limitation of Liability: Extent and limitations of advisor's liability

12. Force Majeure: Provisions for unforeseen circumstances affecting performance

13. Governing Law: Specification of Nigerian law as governing law and jurisdiction

14. Entire Agreement: Integration clause confirming the complete understanding between parties

What sections are optional to include in a Advisory Agreement?

1. Non-Competition: Restrictions on advisor's ability to work with competitors, used when sensitive industry knowledge is involved

2. Data Protection: Specific provisions for handling personal data, required when processing personal information

3. Insurance: Requirements for professional indemnity insurance, important for high-value advisory services

4. Anti-Corruption: Compliance with anti-corruption laws, particularly important for government-related work

5. Assignment: Rights to transfer or assign the agreement, relevant for corporate restructuring

6. Dispute Resolution: Alternative dispute resolution procedures, useful for complex advisory relationships

7. Succession: Provisions for continuation of services in case of corporate changes

8. Third Party Rights: Rights of third parties under the agreement, relevant when other stakeholders are involved

What schedules should be included in a Advisory Agreement?

1. Schedule 1 - Scope of Services: Detailed breakdown of specific advisory services and deliverables

2. Schedule 2 - Fee Structure: Detailed fee calculations, rates, and payment milestones

3. Schedule 3 - Key Personnel: List of key team members and their roles in providing the advisory services

4. Schedule 4 - Service Levels: Specific performance metrics and service standards

5. Schedule 5 - Reporting Requirements: Format and frequency of progress reports and updates

6. Appendix A - Compliance Requirements: Specific regulatory requirements and compliance procedures

7. Appendix B - Communication Protocol: Agreed communication channels and response times

Authors

Alex Denne

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

Jurisdiction

Nigeria

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions






































Clauses


































Relevant Industries

Financial Services

Professional Services

Healthcare

Technology

Education

Energy

Manufacturing

Real Estate

Telecommunications

Agriculture

Mining

Construction

Non-Profit

Government Services

Entertainment

Relevant Teams

Legal

Compliance

Finance

Business Development

Operations

Procurement

Risk Management

Investment

Project Management

Human Resources

Technical Services

Corporate Secretariat

Contract Management

Relevant Roles

Chief Executive Officer

Managing Director

Legal Counsel

Compliance Officer

Chief Financial Officer

Business Development Manager

Management Consultant

Financial Advisor

Strategy Consultant

Operations Manager

Procurement Manager

Risk Manager

Investment Manager

Project Manager

Human Resources Director

Technical Advisor

Company Secretary

Contract Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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