The Retainer Agreement is essential for establishing long-term professional service relationships in Nigeria. It is typically used when a client requires regular access to professional services, whether legal, consulting, or other expertise. The document serves to formalize the arrangement by clearly defining the scope of services, fee structure, and expectations of both parties. Under Nigerian law, this agreement must comply with the general principles of contract law as well as specific regulations governing professional services, such as the Legal Practitioners Act for legal retainers. The agreement provides security for both the service provider and the client by establishing clear terms for the ongoing relationship, including payment schedules, service delivery expectations, and termination procedures. It is particularly valuable for businesses and individuals requiring consistent professional support while managing costs and ensuring service availability.
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1. Parties: Identification and details of the service provider and the client
2. Background: Context of the agreement and brief description of the parties' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Scope of Services: Detailed description of the services to be provided under the retainer
5. Term and Renewal: Duration of the retainer agreement and conditions for renewal
6. Fees and Payment Terms: Retainer fee structure, payment schedule, and billing procedures
7. Obligations of the Service Provider: Duties and responsibilities of the service provider
8. Obligations of the Client: Duties and responsibilities of the client, including information provision
9. Confidentiality: Provisions regarding confidential information handling and protection
10. Termination: Conditions and procedures for terminating the agreement
11. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction
12. Entire Agreement: Confirmation that this document represents the complete agreement between parties
1. Conflict of Interest: Procedures for identifying and handling potential conflicts of interest - particularly important for legal or consulting services
2. Intellectual Property Rights: Provisions regarding ownership and use of intellectual property - relevant when creative or technical work is involved
3. Professional Indemnity Insurance: Details of insurance coverage - important for high-risk or regulated professional services
4. Force Majeure: Provisions for unforeseen circumstances preventing performance - optional but recommended
5. Data Protection: Specific provisions for handling personal data - necessary when personal data processing is involved
6. Anti-Money Laundering Compliance: Required for legal and financial services providers
7. Assignment and Subcontracting: Rules about transferring rights or obligations - important for larger organizations
8. Dispute Resolution: Alternative dispute resolution procedures - recommended for high-value retainers
1. Schedule 1 - Scope of Services: Detailed breakdown of services covered under the retainer
2. Schedule 2 - Fee Schedule: Detailed fee structure, including hourly rates, retainer amounts, and additional charges
3. Schedule 3 - Key Personnel: List of key team members assigned to provide the services
4. Schedule 4 - Service Level Agreement: Specific performance metrics and service standards
5. Appendix A - Communication Protocol: Procedures for routine communications and reporting
6. Appendix B - Required Documentation: List of documents and information the client needs to provide
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