Broker/Agent's Mutual NDA - BizPlacements.com - Business Brokerage & Placement Services

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Broker/Agent's Mutual Non-Disclosure Agreement

To share confidential information about a Listing, and to establish some
ground rules for co-brokering deals, please complete the following Mutual Non-Disclosure Agreement ...

Items in bold required

First Name:	Last Name:
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Do you agree to the following? MUTUAL CONFIDENTIALITY AND NON-DISCLOSURE AGREEMENT This Mutual Confidentiality and Non-Disclosure Agreement is entered into this date by and between Jay Fenello, BizPlacements.com, LLC and the Business Broker/Licensed Real Estate Agent("Broker/Agent") entered above. "Listing Broker" shall refer to the broker who represent a business for sale, and "Selling Broker" shall refer to the broker who represents a potential buyer of the business. "Seller" shall refer to the owner(s) of a business offered for sale, and "Buyer" shall refer to the potential purchaser(s) of a business. WHEREAS, Selling Broker desires to obtain information regarding a presently undisclosed business ("Business") for the purposes of evaluating on behalf of a Buyer a possible acquisition, merger or financing, involving all or part of the business interests owned by the Seller. WHEREAS, Listing Broker has an obligation to the Seller to obtain a Non-Disclosure and Confidentiality Agreement and evidence of financial ability before disclosing certain Confidential Information regarding the Business. NOW THEREFORE, Listing Broker and Selling Broker hereby mutually agree that during the term of this Agreement and for a period of two (2) years following the disclosure of any Confidential Information hereunder, that: 1. The term "Confidential Information" shall mean any and all information regarding the identity of the Business, and any of the Business's customers, customer lists, products, technology, trade secrets, production, plans, designs, drawings, specifications, marketing, processes, methods, costs, prices, finances, management or personnel, plus any other information Seller treated as confidential which is obtained by or in the course of Selling Broker's investigation, observation, or evaluation of the Business. 2. Selling Broker will maintain Confidential Information in strict confidence, and will not disclose it to ANY OTHER PERSON unless they have completed an NDA as provided for in Item 4). Information to be kept confidential shall include the fact that the business is for sale. It is understood and agreed that this non-disclosure provision is intended for the benefit of the Seller, who is a third party beneficiary to this Agreement. As such, Seller may bring an action to enforce its terms and to recover damages for breach of this provision. 3. Selling Broker will not contact the Seller, other owners, partners, members, stockholders, officers, directors, landlords, lessors, employees, suppliers, clients, customers, professional advisors, agents, competitors, or others who might have information concerning the Seller or the Business without the prior written permission of the Listing Broker. All inquiries, offers to purchase, and negotiations regarding the business shall be conducted through the Listing Broker. 4. Selling Broker agrees to provide to Listing Broker a Buyer-executed Non-Disclosure Agreement satisfactory to the Listing Broker before any disclosures occur. If this policy is not strictly adhered to, the Selling Broker agrees that Listing Broker will have no obligation to pay any referral and/or co-brokering fees to the Selling Broker. 6. This Agreement may not be assigned by either party without the express consent of the other. 7. This Agreement shall be governed by and construed in accordance with the law of the State of Georgia. 8. This Agreement constitutes the entire agreement between the parties respecting the subject matter hereof. No change, modification, alteration or addition to any provision hereof shall be binding on either party unless such change is in writing and signed by an authorized representative of both parties. 9. Listing Broker makes no representation or warranty, expressed or implied, as to the truth, accuracy or completeness of any information provided hereunder, or not provided, to Selling Broker under this Agreement. Selling Broker assumes full responsibility for reliance upon such information and waives all rights of recourse, if any, against Listing Broker for reliance thereon. By clicking the "Yes, I Agree" button, the Broker/Agent acknowledges that he/she has full authority to enter into this Agreement, and further agrees to be personally bound by the terms and conditions stated herein. IN WITNESS WHEREOF, the Broker/Agent has executed this Agreement herein below.
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