What are the legal binding agreements that consultants and contractors have to take into consideration when taking up on a project in Nigeria? Are there any requirements that are unique to Nigeria that firms have to pay attention to when taking contract-based jobs? For instance, anything to pay attention in a “statement of work” document.
Hi there, maybe we can help with this question. There is no checklist of agreements, the agreements will depend on the nature of the project, that being said however, there are some documents which every project should have – the project contract, service contracts with any sub-contractors, financing agreement (for the project), performance bonds etc.
Thanks Lawpadi. I also found these two links on your website very useful.
and no. 4 on this list of legal documents for start-ups.
Reading through the articles it seems like the contractual agreements in Nigeria are similar to agreements used in other parts of the world, the only unique thing to Nigeria is the value of the VAT% – which is 5% in Nigeria. Contractors should be aware of this value when pricing.