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CONFIDENTIALITY WHEN BUYING OR SELLING A BUSINESS

Clyth MacLeod Business Sales do not wish to be a roadblock to you by making it hard to gain information on businesses of interest.

We do need however to take care when passing out sensitive business information. In addition to completion of the confidentiality agreement we will often require specific consent from the business owner prior to release of details on the business.

As a buyer wishing to assess the business suitability and to establish whether it meets your criteria, or not, you will be keen to gain as much information on the business as possible.

However, the identity of the business and the information regarding the business is commercially sensitive.

Before releasing their information the owner of the business will want to know that you;

  • are genuinely interested in purchasing the business,
  • are financially capable of purchasing the business,
  • have the required skills and / or experience to operate the business,
  • are not a competitor, employee, supplier or anyone related to the business of the current owner

Completion of a Confidentiality Undertaking does not necessarily give you automatic entitlement to the business information. We will need the owner’s approval first.

If you’re in the market to buy a business please be patient and understand why the business owner wants an understanding of who you are and how you intend to run and finance the potential purchase of the business.

If you are considering selling your business you can rest assured that at Clyth MacLeod Business Sales we take the confidentiality of your business information seriously.

  

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I AGREE TO THE TERMS THAT FOLLOW (Please read the following terms carefully). 

REGISTRATION OF INTEREST AND CONFIDENTIALITY AGREEMENT

As some of the information for this business may be subject to strict confidentiality requirements, before we can provide you with more information we require you to agree to these terms and conditions.

I\We agree and warrant that the name and contact details provided are true and correct and in particular agree as follows:
1. To act in good faith with any contact or discussions relating to the possible acquisition of an interest in a business.
2. To act in good faith with respect to any communications, meetings or discussions with Clyth MacLeod 2018 Ltd.
3. To respect the confidentiality of any business quoted.  And to specifically comply with the Confidentiality Requirements as specified in Schedule 1 of this form. If information on this business is to be shared with family they too will enter into signing of the Confidentiality Agreement.

Schedule 1 - Confidentiality Agreement Terms and Conditions - Clyth MacLeod 2018 Limited (CML)

The parties agree that the Interested Party has requested such confidential information as it has a possible intent to acquire by purchase the business(es) listed for sale with CML Business Sales. AND therefore in consideration of the sum of $1.00 to be paid by the Interested Party to CML that CML may at its sole and unfettered discretion disclose and supply to it such records, documents, representations, and financial information [ “confidential information” ] that CML may have in its possession, may obtain, or may have prepared, subject at all times to the business(es) vendor approval.


CML and the Interested Party further agree that:

1. All confidential information shall at all times remain the sole property of CML and any notes and copies made there from by the Interested Party will be received and held in strict confidence by the Interested Party and shall be used for the sole purposes of assessing the viability, financial details and business affairs of the Business(es).

2. Should for any reason the Interested Party not proceed with any offer to purchase the said business then the confidential information and any notes and copies made there from, and any other tangible information held by the Interested Party relating to the Business (other than written material, notes and data in existence at the date hereof and already acquired by the Interested Party) will forthwith be returned to CML without any copies thereof having been kept by the Interested Party.

3. The undertakings as to confidentiality contained herein shall bind not only the Interested Party but also its employees, agents, directors, advisers, associated and subsidiary companies (including employees, agents and directors thereof) and the Interested Party shall take all reasonable steps ensure that all such persons are aware of and are bound by and observe the conditions of this Agreement.

4. The Interested Party will take all reasonable steps to protect the confidential information at all times and to prevent any unauthorised acquisition or use’s and shall indemnify and keep indemnified CML, and it’s salespersons and employees and the Business against all claims, losses or damages arising out of the unauthorised disclosure or use of confidential information or any parts thereof by the Interested Party or its employees, agents, directors, advisers, associated and subsidiary companies.

5. If the proposal is of interest, we acknowledge that CML is the introducing agent, and the Interested Party herein agrees that all offers to purchase any business at any time hereafter or with any shares or property will only be conducted through CML.

6. For the purpose of this Agreement, “confidential information“ shall mean: a) All information disclosed by CML relating to the business and financial affairs of any such business(es) listed for sale with CML (herein called “the Business”) whether by way of records, documents, representations, financial information, and books of accounts, howsoever connected with the business affairs and financial details of the Business. b) Any information which the Interested Party acquires during negotiations in relation to any dealings, transactions or affairs of the Business.

7. You agree to the receipt of marketing information from us. Should you not wish to continue receiving this information you can opt out by email.

8./ PRIVACY: We will never release, sell or give your details to any other third party or organisation.

IMPORTANT: Please be aware that we may still be required to obtain our Vendors authority before we can release further information about the business, and, they may require us to obtain further information about you, your background and your intentions for the business.

Privacy Policy
We will never release, sell or give your details to any other party or organisation.

Thank You!

Thank you for your completion of the confidentiality agreement

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