WHEREBY IT IS AGREED
The Vendor is Comelli Commercial Business & Property Sales (ABN – 23611843979) (Absolute).
The Recipient promises to keep all confidential information of the Vendor, its Business and each employee disclosed to the Recipient or its agents (the Disclosures) strictly confidential.
The Recipient acknowledges the potential damage to the Vendor, its business and each employee if there is a breach of confidentiality in respect of any of the Disclosures.
The Recipient further undertakes to the Vendor, the Vendor’s Business and each employee:
- to use the Disclosures solely for the purpose of evaluating the opportunity to purchase the Business from the Vendor and for no other purpose;
- not to communicate directly or indirectly any information regarding the Recipient's interest in the Business with anyone (including any employees, customers or suppliers of the Business);
- not to disclose the Disclosures other than to professional advisors, directors of employees of the Recipient who have expressly agreed in writing to be bound by this Confidentiality Agreement and who similarly undertake to maintain the strict security and confidentiality of the Disclosures, with the Recipient to accept liability for any breach of the undertaking by anyone to whom the Recipient or its agents has disclosed the Disclosures; and
- to return all Disclosures and related notes and copies immediately on request by the Vendor.
The Recipient makes this undertaking in favour of the Vendor, its Business and each employee.
The Recipient further acknowledges that a breach of this undertaking by it or anyone to whom the Disclosures are disclosed may result in losses or damages and agrees to compensate the Vendor, its Business or each employee for those losses and damages.
The Recipient acknowledges and agrees it will rely on its own investigations and due diligence, and that the Vendor and its agents will not be held responsible for any inaccuracies or incomplete information regarding the lease details, weekly average takings, trial takings, purchases, rental expenses, employees, wages and any other information relating to the Business unless the information was provided fraudulently. The Recipient also acknowledges that past performance of the Business is not a warranty of future performance and that the Recipient is advised to obtain their own independent legal, financial and business advice. The Recipient further acknowledges and agrees that they will not approach the owner or employees of the Vendor unless accompanied by a representative of Comelli Commercial Business & Property Sales (Licence number 10054043).
The Recipient acknowledges and agrees that acceptance of the Disclosures or signing this document constitutes acceptance of the terms of this confidentiality agreement.
Notices under this document must be in writing and may be sent by post or email to the other party.
This document is governed by and construed in accordance with the Laws of New South Wales. The parties submit to the jurisdiction of the courts of New South Wales. Australia and courts competent to hear appeals therefrom.