Confidentiality Agreement

Confidentiality Agreement

WHEREBY IT IS AGREED

In consideration of the Vendor and the Agent disclosing, making available or handing to the Prospective Purchaser or to any other person at the Purchaser’s direction, or the purchaser disclosing confidential information to an Authorised advisor, confidential information and the identity of the business. The confidential information disclosed is disclosed solely for the purpose of the Prospective Purchaser to carry out due diligence on the Business and is not disclosed for any other purpose.

The Prospective Purchaser and their advisors HEREBY AGREE with the Vendor and the Agent that they will not WITHOUT THE PRIOR WRITTEN CONSENT OF Alora Real Estate:

• contact or deal directly with the Vendor, staff, suppliers, customers, landlord, managing agent and/or any other person involved/associated with the business.
• visit the premises of the business.
• disclose any confidential information to any other persons;
• use the confidential information obtained in any way including in competition or to the detriment of the vendor, business or agent and to hold the information in strict confidence to protect its confidential nature and secrecy;
• allow any person to inspect, view, take extracts or copy any part of the confidential information;
• use the confidential information or any part of it in any way, unless needing to comply with any applicable law or legally binding order;

 

ACKNOWLEDGEMENTS BY THE PROSPECTIVE PURCHASER

The Prospective Purchaser HEREBY ACKNOWLEDGES that:

• they must destroy or return all such confidential information to the Agent within a reasonable time if required or if the Prospective Purchaser should decide not to purchase the business;
• they are bound by this agreement and its terms;
• if they buy the business they will do so through Alora Real Estate;
• The Confidential Information has been compiled from material, information and un-audited financial records properly obtained by the Agent from the Vendor or the Vendor’s accountants or advisers. Alora Real Estate takes no responsibility for the accuracy of said information, furthermore Alora Real Estate are not investors or financial advisors;
• The Vendor, his employees or the Agent will suffer loss and/or damage from any breach by the Prospective Purchaser of any of his obligations under this agreement and in turn will have the ability to claim for damages if the above terms are not met;
• The Agent has been solely instrumental in the introduction of the Business to the Prospective Purchaser and will suffer loss or damage if the Prospective Purchaser contacts or attempts to deal directly with the Vendor, or another agent;
• The Vendor and the Agent have the right to issue the Confidential Information to any other person at their discretion;
• The terms and conditions of this agreement shall continue to have full force and effect for any other business request and after the business(es) is/are sold.

Governing Law

These Terms shall be governed and construed in accordance with the laws of without regard to its conflict of law provisions.

Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights. If any provision of these Terms is held to be invalid or unenforceable by a court, the remaining provisions of these Terms will remain in effect. These Terms constitute the entire agreement between us regarding our Service, and supersede and replace any prior agreements we might have between us regarding the Service.