The Finder's Fee Contract is essential for businesses operating in Nigeria who wish to formalize arrangements with intermediaries who help identify and introduce valuable business opportunities, potential clients, or strategic partners. This document type is particularly relevant in the Nigerian business environment where networking and business introductions play a crucial role in commercial success. The contract ensures compliance with Nigerian legal requirements, including the Companies and Allied Matters Act (CAMA) 2020 and anti-corruption legislation, while protecting both the principal's interests and the finder's right to compensation. It specifies key elements such as the scope of desired introductions, success criteria, fee structures, payment terms, and confidentiality obligations, providing a clear framework for the relationship between parties.
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1. Parties: Identifies and provides full details of the Principal and the Finder, including registration numbers for companies
2. Background: Explains the context of the agreement, including the Principal's business and need for the Finder's services
3. Definitions: Defines key terms used throughout the agreement, including 'Successful Introduction', 'Target Business', and 'Finder's Fee'
4. Scope of Services: Details the specific services the Finder will provide and the target businesses or opportunities they will pursue
5. Finder's Obligations: Lists the specific duties and responsibilities of the Finder, including reporting requirements and professional conduct
6. Principal's Obligations: Outlines the Principal's responsibilities, including providing necessary information and cooperation
7. Fee Structure: Details the amount or percentage of the Finder's Fee and the conditions for when it becomes payable
8. Payment Terms: Specifies payment timing, method, and any conditions precedent to payment
9. Term and Termination: Defines the duration of the agreement and circumstances under which it can be terminated
10. Confidentiality: Protects sensitive information shared during the course of the agreement
11. Non-Circumvention: Prevents the Principal from bypassing the Finder to avoid paying fees
12. Governing Law: Specifies Nigerian law as governing law and outlines jurisdiction for disputes
13. Entire Agreement: Confirms the contract represents the complete agreement between parties
1. Exclusivity: Used when the Finder is granted exclusive rights to certain targets or territories
2. Non-Compete: Added when the Finder should be restricted from working with competitors
3. Force Majeure: Included to address unforeseen circumstances that may affect performance
4. Anti-Corruption Compliance: Required for high-value deals or when dealing with government entities
5. International Payments: Added when payments will be made across borders
6. Dispute Resolution: Detailed alternative dispute resolution procedures, used in high-value agreements
7. Assignment: Used when either party may need to transfer rights under the agreement
8. Multiple Introductions: Added when dealing with potential multiple successful introductions
1. Schedule 1 - Fee Calculation: Detailed breakdown of how fees will be calculated in different scenarios
2. Schedule 2 - Target Business Profile: Specific criteria and characteristics of businesses or opportunities being sought
3. Schedule 3 - Reporting Requirements: Format and frequency of progress reports required from the Finder
4. Schedule 4 - Excluded Opportunities: List of pre-existing contacts or opportunities excluded from the agreement
5. Appendix A - Contact Details: Key contact information for both parties and authorized representatives
6. Appendix B - Required Documentation: List of documents required to evidence a successful introduction
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