“Confidentiality Agreement” also known as Non-Disclosure agreement (NDA) shall mean the information received by the recipient it may be an individual or a company from the Disclosing the information such as business name, property address, company name, financial documents such as BAS, Profit and loss statements, ATO portals info, ABN, ACN, or any information which is confidential or non-confidential about the business or property for sale by RealWorld Business Brokers/ RealWorld Estate Agents is or which would logically be considered “Confidential” in view of its relationship to the whole disclosure. Information furnished orally, in written for, by electronic means, or by any other means which was disclosed by RealWorld Business Brokers/ RealWorld Estate Agents as confidential shall be treated by the Receiving Party as Confidential Information.
In consideration of RealWorld Business Brokers and RealWorld Estate Agents “Broker” or its agents representative and its Client (“Vendor”) providing certain information in relation to the business and affairs of the Vendor to an individual or Company (“Confidential Information”), the Recipient/Company acknowledge that the confidential information is confidential and that disclose thereof could cause damage to the Client and/or the Broker, therefore jointly and severally undertake.
- DO NOT Approach the Vendor(s) of the said business(es) directly, without the consent of “RealWorld Business Brokers/ RealWorld Estate Agents”. All activity such as inspections, communications, negotiations and offers regarding the business must be made through “RealWorld Business Brokers/ RealWorld Estate Agents”.
- Recipient shall not disclose to any other person, including the Client’s Landlords, suppliers, customers, or employees/ staff.
- used to gain a business or other advantage or persons in receipt of the Confidential Information.
- Not to disclose to any other individual, company or competitor (incl. other business broking company) the business for sell or property for sale or any discussions that may have taken place with the Client in relation to the said business;
- Only to use such confidential information solely for the purpose of assessing, and
evaluating the opportunity to purchase the said business;
- Can be used to discuss the Confidential Information only with professional advisors (Solicitors, Accountants, Valuers, and Banks) who have agreed to the Confidentiality undertaking referred to herein.
- To keep the Confidential Information and all copies in any form (electronic and hard copies or emails) of financials, leases, Bas statements, tax returns, staff rosters, wages and other records of Confidential Information under its control at all times. Or immediately return to the RealWorld Business Brokers/ Agents upon request (verbal or written) which include all Confidential Information referred to in this clause no 6. including any other information about the said business and vendor.
- If recipient its and individual or/Company breach any term of this agreement, then “RealWorld Business Brokers/ RealWorld Estate Agents” and the “Vendor” either or both of whom may enforce its terms and/or recover damages for its breach, in such event the
recipient/Company is hereby liable to the Broker for any and all loss and damage arising either directly or indirectly from the breach of this agreement. The loss and damage include but is not limited to all costs of the Broker in respect of the lost sale, amounts commensurate with the amount the Broker would have received from the Vendor had the purchaser not breached this agreement, and all legal costs associated with the breach on an indemnity basis.
All information provided by “RealWorld Business Brokers/ RealWorld Estate Agents” whether verbal or written has been prepared and supplied by the Vendor and/or their
Accountant/Solicitor. “RealWorld Business Brokers/ RealWorld Estate Agents” and its employees and management disclaim any express or implied warranty thereto. The Recipient/Company accepts this disclaimer by signing this document and shall undertake their due diligence before making decision on purchase of business or property. (visit consumer affairs website for more details on due diligence or engage professionals such accountant or solicitor).
The recipient/Company hereby acknowledges that they have read and agreed to this clause and that loss and damages listed are reasonable.