NON-DISCLOSURE AGREEMENT
I, as a signatory of this agreement, expect to receive information concerning the business(es) named above, and perhaps related entities ( "the Business") from you, Queensland Business Network Pty Ltd ("the Agent"). As a condition I agree to treat any information provided to me concerning the Business in accordance with the provisions set out below:
1. I understand the importance of confidentiality to both the seller and myself. I recognise and acknowledge the competitive value and confidential nature of any internal, non-public financial and business information relating to the Business and its affairs ("the Material"), as well as the damage which could result to the Business if any of this information is disclosed to any third party.
2. I will only use the information to decide whether to buy the business. I agree that the Material will be used solely for the purpose of my possible acquisition of the Business, and neither I nor anyone representing me ("my Representatives") will disclose to any third party any of the Material received. However, I may disclose the Material to my family, accountants, legal representatives and other confidential advisers who need to be aware of the Material so they may assist me in my consideration of this acquisition. I agree to advise them of the confidential nature of the Material. In addition, I agree to protect the Material from those who may gain commercial advantage from its contents.
3. I will keep the fact that the business is for sale confidential and in particular will not approach its staff, suppliers or customers Without the prior consent of the Business owner neither I nor my Representatives will disclose to any person that discussions are taking place concerning my possible acquisition except as may be required by law. In addition, I will not seek any information from any third party without prior authorisation from the business owner(s).
4. If the sale does not proceed I will return or destroy all information I have received If I do not proceed with an offer to purchase the Business within a reasonable time, I agree to promptly return or destroy the Material. Further, any other information I or my Representatives may have derived from the Material will not be retained. On the other hand, I understand I may be permitted to retain the Material and its derivations solely for further consideration of purchase of the Business if permission to do so is granted by you either in writing, by fax or by email.
5. If the sale does not proceed I will not use the information I have received for my own purpose and will not attempt to approach clients nor recruit staff of the business If I do not proceed with the purchase of the Business, neither I nor my Representatives will use any of the information contained in the Material for our own material gain. I further agree that I will not attempt to solicit from the Business any employee or customer of the Business for at least two years from the date of this agreement.
6. All information supplied is included in this agreement Any Material provided to me by you either before or after the date of this agreement is subject to the terms of this agreement.
7. This is a binding agreement made by me on behalf of all my associates and advisers The provisions of this agreement are binding. I will ensure that my Representatives comply with the provisions of this agreement. This agreement is governed by the laws of Queensland and I submit to the jurisdiction of the courts exercising jurisdiction in that state.
8. I will not contact the business directly without permission I and my Representatives recognise and acknowledge the Business was introduced by the Agent or its subsidiaries and that the Business has employed the Agent for the purpose of marketing the Business. We will respect this relationship and the Business owner’s privacy, and agree that all dealings will be through the Brokerage unless contact directly with the Business is expressly endorsed by the Agent.
I acknowledge that by signing below, I will abide by all the terms and conditions of this agreement. I also acknowledge that the Material supplied by the Agent is done so in good faith but the Agent makes no guarantee of its accuracy and assumes no responsibility for the financial information supplied. Potential purchasers should seek professional advice and investigate all relevant financial information before proceeding further.
