6. I/We expressly declare that I/we do not act on behalf of a third party, either when negotiating the purchase of the business, nor when reviewing the confidential information provided to me by the Seller. The financial information confidentiality agreement is frequently used when financial information (and related documents) are disclosed in connection with a business acquisition, merger, audit or accounting analysis. The party making the disclosure may be the buyer in a sale transaction (for example. B disclosure of the financial ability to complete the purchase) or sometimes the seller (for example.B. disclosure of the cash flows of a purchased business). An NOA should clearly define what is considered confidential, the names of both parties, additional clauses such as exclusivity and compensation clauses, the legal obligations of both parties and, in the case of NOA financial information, a clear approach in the event of an infringement. In the world of high finance and business, information is a valuable asset. In many cases, parties contain information that they wish to keep confidential and confidential. NOA financial information is a legal mechanism that allows them to do so.
Following the signing, the NDA prevents both parties from disclosing this information to third parties. This makes NOA`s financial information quite common in the financial sector. While the potential buyer asks for confidential information about transactions, including, but not only, past trading results. A confidentiality agreement prevents parties working on a particular thing from discussing internal details, ideas, events, etc., with outside third parties. When it comes to financial information, it is usually an agreement between the releaser and the receiver of that information to ensure that it stays between them. In the event of an infringement, the receiver is generally entitled to some kind of injunction and may even claim damages. For these reasons, NDA financial reporting is a common financial practice. The agreement on the secrecy of financial information is an agreement between the information reletor and the recipient. The beneficiary is obliged to protect the financial information he receives from the relegation party, to the extent that he has his own, in order to ensure that it does not enter the hands of third parties or competing companies. If the beneficiary violates the contract, the infringer is entitled to omission or any other form of compensation that he deems appropriate.
4. I/We undertake to make all confidential information provided to me by the Seller at the seller`s request within seven (7) days after such a request. However, the business owner will want to ensure that the information provided will not be disclosed to an unauthorized third party, such as a competing company. 1. The transaction This clause stipulates that the purpose of the agreement is a transaction between the parties. Confidential financial information disclosed may consist of bank documents, tax documents, sales revenue, forecasts, accounting documents, holdings, salary or income information, or other financial information that, when made public, could affect the outcome of a transaction between the parties. Confidential information includes related information that may be disclosed in relation to financial data (for example. B Social Security account and bank account numbers, as well as access to IPNs and passwords). Note that you use a confidentiality agreement with a party if you use it for anyone to whom you divy similar financial information. Otherwise, someone who has signed a secret could argue that you did not keep the information confidential. When providing confidential information, it should be classified as “confidential.” It is reasonable for the potential buyer to confirm the value of the transaction and/or assets during the trading phase and prior to the conclusion of a sales contract.