The Building Loan Agreement is a specialized financing document used in Nigeria when a lender provides funding specifically for construction or development projects. It combines elements of both traditional loan agreements and construction contracts, making it distinct from standard commercial loans. The agreement is essential for projects requiring phased funding based on construction progress, typically used in real estate development, commercial construction, and infrastructure projects. It must comply with Nigerian banking regulations, including the Banks and Other Financial Institutions Act (BOFIA) 2020, as well as construction and property laws. The document includes detailed provisions for loan disbursement tied to construction milestones, technical specifications, monitoring requirements, and security arrangements, ensuring proper risk management for both the lender and borrower throughout the construction phase.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the Lender, Borrower, and any guarantors
2. Background: Context of the agreement, including property details and purpose of the loan
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the loan amount, purpose, and construction project details
5. Disbursement Terms: Schedule and conditions for loan disbursements tied to construction milestones
6. Interest and Fees: Interest rate, calculation method, and associated fees
7. Repayment Terms: Repayment schedule, methods, and prepayment provisions
8. Security and Collateral: Details of security arrangements, including property mortgage and additional collateral
9. Construction Requirements: Construction specifications, timelines, and quality standards
10. Conditions Precedent: Prerequisites for loan effectiveness and disbursement
11. Representations and Warranties: Statements of fact by the borrower regarding their status and project
12. Covenants: Ongoing obligations of the borrower during construction and loan term
13. Events of Default: Circumstances constituting default and corresponding remedies
14. Monitoring and Inspection: Lender's rights to monitor construction progress and loan utilization
15. General Provisions: Standard clauses including notices, amendments, governing law, and dispute resolution
1. Insurance: Detailed insurance requirements - include if insurance is not covered in covenants
2. Environmental Compliance: Specific environmental obligations - include for large construction projects
3. Contractor Requirements: Specific requirements for contractors - include when lender requires approval rights over contractors
4. Cost Overrun Provisions: Provisions for handling cost overruns - include for large complex projects
5. Force Majeure: Specific force majeure provisions - include for long-term construction projects
6. Step-in Rights: Lender's rights to take over project - include for high-value commercial projects
7. Assignment and Transfer: Rights to assign or transfer the loan - include for syndicated loans
1. Schedule 1 - Property Details: Detailed description of the property and construction site
2. Schedule 2 - Construction Schedule: Detailed construction timeline and milestones
3. Schedule 3 - Disbursement Schedule: Detailed breakdown of loan disbursement tranches and conditions
4. Schedule 4 - Construction Specifications: Detailed technical specifications for the construction
5. Schedule 5 - Form of Drawdown Notice: Template for requesting loan disbursements
6. Schedule 6 - Required Permits and Approvals: List of required regulatory approvals and permits
7. Schedule 7 - Form of Progress Certificate: Template for certifying construction progress
8. Appendix A - Project Budget: Detailed project cost breakdown and budget
9. Appendix B - Security Documents: Forms of security documents and guarantees
10. Appendix C - Insurance Requirements: Detailed insurance specifications and requirements
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate Development
Construction
Property Management
Infrastructure Development
Commercial Real Estate
Residential Development
Urban Development
Relevant Teams
Legal
Finance
Risk Management
Construction Management
Project Management
Compliance
Real Estate
Credit Analysis
Property Development
Operations
Relevant Roles
Chief Financial Officer
Legal Counsel
Construction Manager
Project Finance Manager
Real Estate Developer
Banking Relationship Manager
Risk Manager
Property Development Director
Construction Finance Specialist
Compliance Officer
Project Director
Development Manager
Finance Director
Construction Loan Officer
Find the exact document you need
Simple Interest Loan Contract
A Nigerian law-governed agreement establishing terms for a loan with simple interest calculation, including repayment terms and party obligations.
find out more
Factoring Agreement
A Nigerian law-governed agreement establishing terms for the purchase of accounts receivable by a Factor from a Client, including pricing, procedures, and parties' obligations.
find out more
Employees Loan Agreement
A Nigerian law-governed agreement establishing terms for workplace loans between employers and employees, including repayment through salary deductions.
find out more
Co Financing Agreement
A Nigerian law-governed agreement establishing terms for multiple financial institutions to jointly finance a project, including contribution ratios, disbursement mechanisms, and inter-creditor arrangements.
find out more
Litigation Funding Agreement
A Nigerian law-governed agreement setting out terms for third-party funding of litigation, including funding commitments, returns, and risk allocation.
find out more
Loan Facilitation Agreement
A Nigerian law-governed agreement establishing terms for loan facilitation services between lenders and borrowers, ensuring regulatory compliance and defining party obligations.
find out more
Simple Loan Term Sheet
A Nigerian law-governed preliminary document outlining key commercial and legal terms for a proposed loan facility, serving as the basis for a detailed loan agreement.
find out more
Loan For Use Agreement
A Nigerian law-governed agreement allowing temporary, free use of an item or asset, with an obligation to return it in its original condition.
find out more
Hire Purchase Agreement For Car
A Nigerian law-governed agreement for the purchase of a vehicle through installment payments, with ownership transferring upon final payment.
find out more
International Loan Agreement
Nigerian law-governed agreement for international lending transactions, incorporating local regulatory requirements and international banking standards.
find out more
Film Financing Agreement
A Nigerian law-governed agreement setting out terms for film production financing, including investment structure, rights, and profit-sharing arrangements.
find out more
Undertaking Loan Agreement
A Nigerian law-governed loan agreement setting out terms, conditions, and undertakings between lender and borrower, with specific compliance requirements under Nigerian banking regulations.
find out more
Trade Finance Agreement
Nigerian law-governed agreement establishing terms for trade finance facilities between financial institutions and trading entities, incorporating local regulatory requirements and international practices.
find out more
Real Estate Loan Agreement
A Nigerian law-governed agreement establishing terms for a real estate-secured loan, including property security arrangements and regulatory compliance requirements.
find out more
Project Finance Contract
A Nigerian law-governed agreement establishing terms for project financing of large-scale infrastructure or development projects, incorporating local regulatory requirements and international best practices.
find out more
Official Loan Agreement
A Nigerian law-governed loan agreement establishing formal lending terms between parties, compliant with local banking regulations and financial laws.
find out more
Margin Loan Agreement
A Nigerian law-governed agreement establishing terms for margin lending facilities, including loan terms, collateral requirements, and regulatory compliance measures.
find out more
Loan Swap Agreement
A Nigerian law-governed agreement enabling the exchange of loan obligations between parties, including provisions for interest rate or currency swaps and regulatory compliance.
find out more
Financing Contract Agreement
A Nigerian law-governed agreement establishing the terms and conditions of a financing facility between lender and borrower, including loan terms, security arrangements, and regulatory compliance requirements.
find out more
Financial Support Agreement
A Nigerian law-governed agreement establishing terms for financial support between parties, including funding terms, repayment conditions, and regulatory compliance requirements.
find out more
Financial Assistance Agreement
A Nigerian law-governed agreement establishing terms and conditions for providing financial assistance, including loan terms, security arrangements, and regulatory compliance requirements.
find out more
Financial Agreement Between Two Parties
A Nigerian law-governed financial agreement template for structuring financial arrangements between two parties, ensuring regulatory compliance and clear terms.
find out more
Car Loan Agreement Between Individuals
A Nigerian-law governed agreement between private individuals for a car loan, establishing terms, conditions, and security arrangements for vehicle financing.
find out more
Car Loan Agreement Between Family
A Nigerian law-governed agreement formalizing a car loan arrangement between family members, including loan terms, vehicle security, and repayment provisions.
find out more
Car Installment Agreement
A Nigerian law-governed agreement for vehicle purchase through installment payments, detailing payment terms, ownership rights, and party obligations.
find out more
Car Finance Contract
A Nigerian law-governed agreement establishing terms and conditions for vehicle financing, including payment obligations, security interests, and regulatory compliance requirements.
find out more
Bridge Financing Agreement
A Nigerian law-governed agreement providing temporary financing to bridge gaps between immediate capital needs and long-term funding solutions.
find out more
Bridge Facility Agreement
A Nigerian law-governed temporary financing arrangement providing short-term funding while permanent financing is arranged.
find out more
Auto Finance Contract
A Nigerian law-governed vehicle financing agreement that structures the terms and conditions for vehicle purchase financing, ensuring compliance with local banking and consumer protection regulations.
find out more
Motorcycle Hire Purchase Agreement
A Nigerian law-governed agreement for motorcycle purchase through hire purchase arrangements, detailing payment terms, ownership rights, and obligations.
find out more
Tri Party Loan Agreement
A Nigerian law-governed agreement establishing a three-way loan arrangement between lender, borrower, and a third party, detailing loan terms and parties' obligations.
find out more
Standard Hire Purchase Agreement
A Nigerian law-governed agreement enabling purchase of goods through installments, with ownership transferring upon final payment.
find out more
Master Asset Finance Agreement
A Nigerian law-governed master agreement establishing terms for ongoing asset financing arrangements between a financial institution and borrower.
find out more
Development Credit Agreement
A Nigerian law-governed agreement establishing terms for development financing, including credit facility arrangements, project implementation requirements, and compliance obligations.
find out more
Consortium Loan Agreement
A Nigerian law-governed agreement establishing terms for a multi-lender loan facility, including syndication and security arrangements.
find out more
Small Business Loan Agreement
Nigerian-law governed loan agreement between a financial institution and small business, detailing loan terms, security, and obligations under CBN regulations.
find out more
Small Credit Agreement
Nigerian-law governed Small Credit Agreement template for structured small-scale lending transactions, compliant with local banking and consumer protection regulations.
find out more
Mortgage Loan Purchase Agreement
A Nigerian law-governed agreement for the sale and purchase of mortgage loan portfolios between financial institutions, including transfer and servicing arrangements.
find out more
Loan Agreement Between Lender Borrower And Guarantor
Nigerian law-governed loan agreement establishing lending terms between lender, borrower, and guarantor, with comprehensive security and obligation provisions.
find out more
Monthly Payment Plan Agreement
A Nigerian law-governed agreement establishing structured monthly payment terms between parties, including payment schedules, conditions, and regulatory compliance requirements.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)