Confidentiality / Non-Disclosure Agreement
We ask you to review the statement below and understand that we are asking you to sign it in order to clarify our relationship with you and for the protection of the business and the seller.
WHEREAS, Beehive Business Alliance (hereinafter BROKER) may furnish to the UNDERSIGNED (hereinafter BUYER) certain information and material relating to companies offered for sale by the BROKER; therefore:
BUYER agrees all information provided by BROKER to BUYER is confidential and its disclosure to others may be damaging and detrimental to the business. BUYER agrees to hold all such information and material in trust and confidence and agrees that it shall not be disclosed to any third party, except to attorneys, accountants or other personal advisors, provided, however, that the BUYER shall make every effort to inform such advisors (if any) that they shall also be bound by the terms hereof.
BUYER agrees not to contact SELLER (s) nor anyone that is related to the business (including but not limited to suppliers and employees) without written permission from BROKER. BUYER further agrees that all requests or questions for SELLER will be done through the BROKER unless otherwise agreed to by SELLER.
BUYER agrees that, when visiting the premises of a business covered by this Agreement, the BUYER will conceal any and all materials provided by BROKER or by the seller and will not openly discuss the business availability in the presence, or within earshot of, any customers, clients or employees, without permission of the seller.
BUYER shall, however, have no obligation under this Agreement with respect to any information already known by the BUYER or generally known within the industry prior to date of this Agreement, or which becomes common knowledge thereafter.
BUYER understands that the SELLER has supplied all information without BROKER’S confirmation. It is the BUYER’S responsibility to confirm the accuracy of any and all information provided to the BUYER. BUYER also agrees to indemnify and hold BROKER and its agents harmless from any claims or damages which may occur from the inaccuracy or incompleteness of any information provided to BUYER with respect to any business disclosed or purchased.
At the conclusion of discussions between the BROKER and the BUYER, or upon demand by the BROKER, all information and material, including any and all copies made or stored electronically by the BUYER, shall be immediately returned to the BROKER, deleted or destroyed by the BUYER, acting in good faith to preserve the seller’s confidentiality.
BUYER agrees and understands that BROKER represents SELLER and his or her interests based on a contract with the SELLER and that BROKER has no contracted rights with BUYER. Be it understood that the BROKER’s duty is limited only to negotiating the sale of the business at mutually agreed upon terms and conditions between BUYER and the SELLER. BROKER’S compensation will be received from the SELLER unless other arrangements are made with BUYER in writing.
BUYER agrees that he or she may be liable for BROKER’S fee (that would normally be paid by the SELLER) for any business disclosed to them by BROKER if either of the following conditions occurs:
· Buyer purchases a business disclosed to them by the BROKER without the involvement of BROKER.
· Buyer leases, manages or otherwise becomes involved with a business disclosed to them by BROKER.
BUYER agrees that he/she will be personally liable to pay BROKER for the BROKER’s fee(that would normally be paid by the SELLER) if BUYER does any act that results in harm to SELLER’s business or BROKER’s contract rights with SELLER. Such acts include but are not limited to BUYER making any information disclosed to them on a business public thereby breaking the strict confidentiality of the transaction or BUYER using any information provided by SELLER for their own personal gain other than purchasing SELLER’s business or anything associated with said business .
It is agreed and understood that this Non Disclosure Agreement has neither time limit nor geographic range.
The BUYER’S name inserted below (by the buyer) acknowledges a complete understanding of ALL terms contained on this agreement.
By Inserting my name below, I understand and AGREE to the non-disclosure terms outlined herein