AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
At minimum: who the parties are and where each is based, the scope and deliverables, fees with the currency and payment route, who bears transfer charges and Nigerian withholding tax, late-payment terms, ownership of the work, termination, governing law and how disputes are settled. For a cross-border deal, an arbitration or mediation clause is often easier to enforce than a court judgment in another country.
Why the cross-border details matter
A contract between a freelancer in Accra and a client in Lagos has the usual parts of any service agreement, plus a few that only matter because you are in different countries: the currency, the payment route, Nigerian withholding tax, and which country's law and courts apply. This guide lists the clauses and what each should say. It is information, not legal advice; for a large contract, have a lawyer review it.
The clauses
- Parties
- Full legal names, addresses, and the client's CAC number. State that you are resident in Ghana.
- Scope and deliverables
- What you will deliver, in what format, by when, and what is not included.
- Changes
- How extra work is requested and priced, in writing, before it starts.
- Fees
- Amount, whether fixed or per hour or day, and the deposit.
- Currency and route
- The invoice currency, the account it is paid to, and any rate-adjustment rule.
- Charges
- Who pays bank and transfer charges at each end.
- Tax
- Whether fees are gross or net of Nigerian withholding tax, and that the client will provide the WHT receipt. That fees are exclusive of any VAT.
- Payment terms
- Days to pay after invoice, and what happens if payment is late.
- Ownership
- When rights in the work pass to the client, usually on full payment.
- Confidentiality
- What each side must keep confidential and for how long.
- Termination
- Notice period, and payment for work done to the date of termination.
- Liability
- A cap on your liability, often the fees paid.
- Governing law and disputes
- Which law applies and whether disputes go to mediation, arbitration or a court.
Currency, tax and payment
These three clauses prevent most cross-border disputes. Pick the invoice currency deliberately; our guide to invoicing in naira or cedis sets out who carries the risk. Then deal with withholding tax: a Nigerian company paying a non-resident for professional services generally deducts 10% under the 2024 regulations, so say whether the fee is gross or net. See will my client deduct WHT.
Late payment
There is no general statutory interest on late business invoices that we could confirm in Nigeria, so the contract has to provide it. Two common approaches are interest on overdue sums at a stated rate, and a fixed late-payment charge. Be careful with the second. Nigerian courts distinguish between liquidated damages, which are a genuine pre-estimate of loss and are enforceable without proof of loss, and penalties, which are set to deter and are unenforceable, leaving you to prove your actual loss. BusinessDay's October 2025 summary cites the Supreme Court case Oyeneyin v Akinkugbe on the point. Keep a note of how you arrived at any fixed figure.
Governing law and disputes
You can choose Nigerian law, Ghanaian law or another system. The more practical question is enforcement: if the client does not pay, where will you act, and will the result be recognised there?
- A court judgment from Ghana can be enforced in Nigeria only through a registration process. Under Nigeria's foreign judgments laws, as summarised by Global Legal Post (April 2026), registration is within 12 months of the judgment unless a court extends it, and can be refused on grounds such as lack of notice or jurisdiction.
- An arbitration award is often easier to enforce. Nigeria's Arbitration and Mediation Act 2023 incorporates the New York Convention for awards from Convention states in commercial relationships, per the same summary.
- The 2023 Act also makes mediated settlements binding and enforceable, according to a Mondaq summary, which suits smaller disputes.
For smaller contracts, a clause requiring mediation first, then arbitration with a named body and an online hearing, keeps costs down. Name the seat (the city whose law governs the arbitration) and the language.
Signing and records
- Sign electronically or exchange signed copies by email; keep both.
- Keep the client's CAC details and the name of the person who signed.
- Keep every change to scope in writing.
- Keep invoices, payment records and WHT receipts together.
For a fuller Nigerian template, see a freelance contract template for Nigeria.
Where Pryme fits
Once the contract is signed, Invoicing on a Pryme Business Account lets you raise invoices in the agreed currency, and the Finance agent can prepare reminders as payment dates pass; nothing is sent without your approval.
Questions people ask
Which law should govern a contract with a Nigerian client?
Either country's law can work. Think about where you would enforce: arbitration awards are often easier to enforce across borders than court judgments.
Can I charge interest on late payment in Nigeria?
Only if the contract provides for it; we found no general statutory interest on late business invoices. Avoid fixed charges that look like penalties.
Is a Ghana court judgment enforceable in Nigeria?
Only after registration under Nigeria's foreign judgments laws, generally within 12 months, and it can be refused on set grounds.
Should my contract mention withholding tax?
Yes. Say whether fees are gross or net of Nigerian WHT and that the client will give you the WHT receipt.
Sources
- BusinessDay: liquidated damages and penalty clauses (2 Oct 2025) · accessed Oct 2026
- Global Legal Post: Enforcement of judgments, Nigeria (11 Apr 2026) · accessed Oct 2026
- Mondaq: Salient provisions of the Arbitration and Mediation Act 2023 · accessed Oct 2026
- Mondaq: An overview of the Nigerian Withholding Tax Regulations of 2024 · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.