Document background
The Purchase and Supply Agreement serves as a critical commercial document in Nigerian business operations, establishing a formal contractual relationship between suppliers and purchasers of goods. This agreement is essential when parties engage in ongoing commercial transactions requiring detailed terms for supply, delivery, quality standards, and payment arrangements. It ensures compliance with Nigerian commercial law, including the Sale of Goods Act, Companies and Allied Matters Act 2020, and relevant consumer protection legislation. The document is particularly important in structured business relationships where regular supply of goods occurs, providing legal protection for both parties and clarity on their respective obligations. This agreement type is commonly used across various industries in Nigeria, from manufacturing to retail, and can be adapted to accommodate both domestic and international trade requirements while maintaining compliance with local regulations.
