Account Budget Confidentiality NDA
This Non-Disclosure Agreement ("Agreement"), effective as of [May 05, 2050], is between the Disclosing Party ("Disclosing Party"), having its principal place of business at [Your Company Address], and the Receiving Party ("Receiving Party"), having its principal place of business at [Your Partner Company Address].
I. Purpose
The Receiving Party desires to receive certain confidential and proprietary information concerning the Disclosing Party’s account budget for the purpose of ["PURPOSE"]. Both parties agree to enter into a confidential relationship with respect to the disclosure of the Confidential Information.
II. Definition of Confidential Information
For purposes of this Agreement, "Confidential Information" refers to any data or information that is proprietary to the Disclosing Party and not generally known to the public, relating to the Disclosing Party’s account budget, which the Disclosing Party wishes to maintain as confidential.
III. Obligations of the Receiving Party
The Receiving Party agrees to hold the Confidential Information in confidence and not disclose the Confidential Information to any third party except under the conditions set out in this Agreement. The Receiving Party will use the Confidential Information solely for fulfilling its obligations under this Agreement.
Confidentiality: Maintain the confidentiality of all Confidential Information disclosed by the Disclosing Party.
Non-Disclosure: Not disclose, directly or indirectly, any Confidential Information to any third party without the prior written consent of the Disclosing Party.
Use for Authorized Purpose: Use the Confidential Information solely for the purpose of evaluating and discussing the potential business relationship between the Parties.
Standard of Care: Exercise reasonable care to prevent unauthorized disclosure or use of the Confidential Information.
Return or Destruction: Promptly return or, at the Disclosing Party's option, destroy all copies of Confidential Information upon the Disclosing Party's written request or upon termination of discussions between the Parties.
Duration of Confidentiality Obligations: The Receiving Party's obligations of confidentiality under this Agreement shall continue for a period of [Number] years from the date of disclosure of each specific piece of Confidential Information.
IV. Exceptions to Confidentiality
The obligations of confidentiality under this Agreement do not apply to information that:
Is or becomes publicly available without breach of this Agreement by the Receiving Party.
Was rightfully in the possession of the Receiving Party without restriction on disclosure prior to receipt from the Disclosing Party.
Is independently developed by the Receiving Party without reference to or reliance upon the Confidential Information.
V. Duration of the Agreement
This Agreement shall endure for a period of [3 years] from the date first above written and will continue until terminated by nullifying all obligations of confidentiality.
VI. Termination Clause
The Disclosing Party can terminate this Agreement at any time if it finds that the terms and conditions of this Agreement were breached by the Receiving Party and such breach was not cured within [30 days] of written notice.
VII. Governing Law
This agreement and the parties’ actions under this Agreement shall be governed by and construed under the laws of [Michigan], without reference to conflict of law principles.
IN WITNESS WHEREOF, the Parties hereto have executed this Non-Disclosure Agreement as of the Effective Date.
By signing below, the Disclosing Party and Receiving Party agree to adhere to all aforementioned agreements, terms, conditions, and restrictions thereto.
Disclosing Party:
Date:
Receiving Party:
Date:
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