Document background
The Credit Agreement For Supply of Goods is essential for businesses operating in Nigeria that engage in commercial transactions involving the supply of goods on credit terms. This document is particularly relevant in the current Nigerian business environment where structured credit arrangements are increasingly important for trade facilitation. It serves multiple purposes: establishing the credit relationship, defining supply terms, and protecting both parties' interests under Nigerian law. The agreement is commonly used when a supplier wishes to provide goods to a buyer on credit terms while maintaining legal security over the transaction. It incorporates requirements from Nigerian commercial law, financial regulations, and Central Bank directives, making it suitable for both large corporate transactions and smaller commercial arrangements. The document typically includes provisions for credit limits, interest calculations, repayment schedules, delivery terms, quality standards, and default remedies, all within the framework of Nigerian jurisdiction.
