This Agreement is used in cases where the parties wish to share confidential information, but want to ensure that third parties and/or the public do not become privy to this information. The Agreement regulates the disclosure and/or non-disclosure of this confidential information. It is also called a non-disclosure agreement, due to the restrictions on disclosure that are placed on the parties to the Agreement.
In the case of a standard confidentiality agreement, one party is the Disclosing Party and the other party is the Receiving Party (i.e. one party discloses the confidential information and the other party receives the confidential information). This Agreement is ideal for either individuals or businesses whereby one of the parties wants to protect their interests when disclosing confidential information, ensuring that this information is not made public to third parties and/or used for any purposes other than as is outlined in the Agreement.
The Agreement provides for legal remedies to be sought and legal costs to be incurred where the Agreement is breached by the Receiving Party.
The Agreement contains the following clauses:
4. Confidentiality Undertaking
10. Governing Law and Jurisdiction