The Debt Purchase Agreement is a crucial document used in Nigerian financial markets when one party wishes to transfer existing debt obligations to another party. This agreement is particularly relevant in scenarios involving debt portfolio sales, non-performing loan transfers, or debt restructuring arrangements. The document must comply with Nigerian financial regulations, including the Central Bank of Nigeria Act, BOFIA, and relevant money lending laws. It typically includes detailed provisions about the debt being purchased, purchase price calculations, representations about the validity of the debt, transfer mechanics, and ongoing obligations of both parties. The agreement is essential for financial institutions, asset management companies, and investors engaged in debt trading within Nigeria's financial sector.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identifies and defines the seller (original creditor) and purchaser of the debt
2. Background: Explains the context of the debt, its origin, and the parties' intention to transfer it
3. Definitions: Defines key terms used throughout the agreement including Debt, Purchase Price, Completion Date, etc.
4. Sale and Purchase: Core terms of the transaction, including the agreement to sell and purchase the debt
5. Purchase Price and Payment: Specifies the purchase price, payment method, and timing of payment
6. Completion: Details the completion process, timing, and deliverables
7. Seller's Representations and Warranties: Warranties regarding the debt, seller's authority, and accuracy of information
8. Purchaser's Representations and Warranties: Warranties regarding purchaser's authority and ability to complete the transaction
9. Pre-Completion Obligations: Obligations of both parties before completion, including maintenance of the debt
10. Post-Completion Obligations: Ongoing obligations after completion, including document handover and notifications
11. Confidentiality: Provisions regarding confidential information and its protection
12. Notices: Process for giving formal notices under the agreement
13. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and jurisdiction for disputes
14. General Provisions: Standard boilerplate clauses including assignment, amendments, severability
1. Data Protection: Required when personal data is involved in the debt purchase, particularly for consumer debts
2. Regulatory Compliance: Additional section when the debt purchase requires specific regulatory approvals or notifications
3. Security Arrangements: Required when the debt is secured by collateral or guarantees
4. Tax Provisions: Detailed tax provisions when the transaction has significant tax implications
5. Third Party Rights: Required when there are guarantors or other third parties with rights related to the debt
6. Step-In Rights: Optional provisions for the purchaser to step into existing arrangements related to the debt
7. Indemnification: Detailed indemnity provisions for high-value or complex debt purchases
1. Schedule 1 - The Debt: Detailed description of the debt being purchased, including amount, interest, and payment history
2. Schedule 2 - Completion Requirements: List of documents and actions required for completion
3. Schedule 3 - Form of Transfer Notice: Template for notifying relevant parties of the debt transfer
4. Schedule 4 - Seller's Disclosures: Specific disclosures against the warranties given by the seller
5. Appendix A - Related Security Documents: Copies or details of any security documents related to the debt
6. Appendix B - Relevant Correspondence: Key correspondence relating to the debt that needs to be transferred
Find the exact document you need
Investment Agreement Between Individual And Individual
A Nigerian law-governed agreement establishing investment terms and conditions between two individuals, including investment amount, returns, rights, and obligations.
Download
Bike Purchase Agreement
A Nigerian law-governed agreement for the sale and purchase of a bike, outlining terms, conditions, and ownership transfer requirements.
Download
Automobile Purchase Agreement
A Nigerian law-governed agreement for the sale and purchase of an automobile, detailing vehicle specifications, price, and ownership transfer terms.
Download
Agreement Of Purchase
A Nigerian law-governed agreement that documents the terms and conditions for the sale and purchase of goods, assets, or property between parties.
Download
Vehicle Purchase Agreement Form
A Nigerian law-governed agreement that formalizes the sale and purchase of vehicles, including essential terms and conditions for ownership transfer.
Download
House Offer To Purchase
A formal offer document under Nigerian law outlining terms and conditions for purchasing residential property, including price and essential transaction details.
Download
Equity Investment Contract
A Nigerian law-governed agreement documenting terms and conditions for equity investment in a company, including share allocation, shareholder rights, and protective provisions.
Download
Letter Of Intent To Purchase Goods
A preliminary document under Nigerian law outlining the proposed terms for purchasing goods, serving as a framework for negotiating a final purchase agreement.
Download
Agreement For Advance Payment For Purchase Of Land
Nigerian law-governed agreement documenting terms and conditions for advance payment in land purchase transactions, securing parties' interests before final property transfer.
Download
Contract For Selling A Car With Payments
A Nigerian law-governed agreement for the sale of a vehicle with installment payments, detailing vehicle specifications, payment terms, and ownership transfer conditions.
Download
Agreement For Advance Payment For Purchase Of House
A Nigerian legal agreement governing advance payments for house purchases, detailing payment terms and property transfer conditions under Nigerian law.
Download
Shares Agreement
A Nigerian law-governed agreement establishing terms for share ownership, transfer, and shareholder rights within a company under CAMA 2020.
Download
Car Lease To Own Agreement
A Nigerian law-governed agreement establishing terms for vehicle lease-to-own arrangements, including payment terms and ownership transfer conditions.
Download
Equipment Purchase Contract
Nigerian law-governed agreement for equipment purchase, detailing specifications, price, warranties, and compliance requirements.
Download
Business Sale Contract
A Nigerian law-governed agreement for the sale and purchase of a business, detailing transaction terms, warranties, and completion requirements.
Download
Public Offer Agreement
A legally binding agreement governing public securities offerings in Nigeria, compliant with Nigerian securities laws and SEC regulations.
Download
Buyback Agreement
A Nigerian law-governed agreement establishing terms for repurchasing assets, securities, or goods previously sold, ensuring compliance with local regulatory requirements.
Download
Vehicle Hire Purchase Agreement
A Nigerian law-governed agreement for the purchase of vehicles through installment payments, with ownership transferring upon final payment.
Download
Lease Agreement With Option To Purchase
Nigerian law-governed agreement combining property lease terms with a purchase option, establishing rights and obligations for both rental period and potential property acquisition.
Download
Home For Sale By Owner Contract
A legal contract for direct property sale between private parties in Nigeria, compliant with Nigerian property law and the Land Use Act.
Download
Bike Hire Purchase Agreement
A Nigerian law-governed agreement for the purchase of a bike through installment payments, with ownership transferring upon final payment.
Download
Artwork Purchase Agreement
A Nigerian law-governed agreement for the sale and purchase of artwork, including authenticity, payment terms, and cultural property compliance requirements.
Download
Aircraft Sale Agreement
A Nigerian law-governed agreement for the sale and transfer of aircraft ownership, complying with NCAA regulations and civil aviation requirements.
Download
Agreement For Advance Payment For Purchase Of Goods
Nigerian law-governed agreement establishing terms for advance payment in goods purchase, including payment protection measures and delivery requirements.
Download
Personal Property Purchase Agreement
A Nigerian law-governed agreement documenting the sale and purchase of personal property, specifying terms, conditions, and parties' rights and obligations.
Download
Option To Purchase Contract
A Nigerian law-governed agreement granting exclusive rights to purchase specified property at a predetermined price within an agreed timeframe.
Download
Non Binding Letter Of Intent To Purchase Product
A non-binding document under Nigerian law expressing formal interest in purchasing specific products, outlining basic terms and conditions for potential transaction.
Download
Dealer Purchase Agreement
A Nigerian law-governed agreement establishing terms between supplier/manufacturer and dealer for product distribution and resale within specified territories.
Download
Cross Purchase Agreement
A Nigerian law-governed agreement establishing terms for business owners to purchase each other's interests upon specific triggering events.
Download
Asset Purchase Form
A standardized form for asset purchases in Nigeria, ensuring legal compliance and proper transfer of ownership between parties.
Download
Seller Financed Purchase Agreement
A Nigerian law-governed agreement where the property seller provides purchase financing to the buyer, combining sale and loan terms.
Download
Real Estate Contract Agreement
A Nigerian law-governed agreement for the sale and purchase of real estate property, ensuring compliant transfer of ownership and detailing all sale terms and conditions.
Download
Offer To Purchase And Contract
A Nigerian law-governed document combining property purchase offer and sale agreement, detailing terms and conditions for real estate transactions.
Download
Letter Of Intent To Buy A Business
A preliminary document under Nigerian law outlining the proposed terms and conditions for acquiring a business, serving as a framework for future negotiations.
Download
Letter Of Intent For Purchase Order
A preliminary document under Nigerian law that outlines the intention to enter into a formal purchase agreement, detailing key terms and conditions of the proposed transaction.
Download
High Purchase Agreement Form
A Nigerian law-governed agreement enabling purchase of goods through installments, with ownership transferring upon final payment.
Download
Basic Real Estate Contract
A standardized real estate sale agreement template compliant with Nigerian law, facilitating property transfers between parties.
Download
Commercial Property Sale Agreement
A Nigerian law-governed agreement for the sale and purchase of commercial property, ensuring legal compliance and protecting both parties' interests.
Download
Purchase Agreement For Car Loan
A Nigerian law-governed agreement combining vehicle purchase and loan financing terms, establishing rights and obligations for vehicle acquisition through financial institution funding.
Download
Car Dealer Purchase Agreement Form
A Nigerian law-governed agreement between a car dealer and purchaser for the sale and purchase of a vehicle, including key terms and conditions.
Download
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)