Document background
The MOU for Supply of Goods is commonly used in Nigerian business transactions as a preliminary step before entering into a more detailed supply agreement. This document is particularly useful when parties wish to establish a framework for their supply relationship while maintaining flexibility for future negotiations. It typically includes essential elements such as product specifications, pricing principles, delivery terms, and quality standards, while acknowledging Nigerian regulatory requirements and business practices. The MOU serves as a roadmap for the relationship, often used in situations where parties need to demonstrate commitment while finalizing detailed terms or securing internal approvals. It's especially relevant in Nigeria's dynamic business environment where relationships often begin with formal but flexible arrangements before progressing to more detailed contracts.
