What Is a Non Disclosure Agreement In Afrikaans

Non-disclosure agreement is usually known as confidentiality agreement. Other names are confidentiality disclosure agreement, proprietary information agreement or secrecy agreement. It is a legal contract that may be made between some parties and involved parties agree to never disclose information insured by agreement. This type of agreement was designed to create confidential relationship relating to the parties for protection of confidential information or business secrets. NDA contains non-public information that may be detrimental in unauthorized hands.

NDA is simply signed between two individuals, businesses or some other entities which do business with one another and need to share with you confidential information. This type of agreement can be made between employer and employee to shield company’s confidential information. As need for NDA increases, complexity with this document also increases. Before stepping into this agreement, all involved parties should know about elements with this contract. Here is information regarding important factors of an NDA:

Identification of Parties

A non-disclosure agreement should contain clear info on parties involved. Person giving info is written as disclosing party and individual who promises never to disclose facts are written as recipient on this document. If recipient shares this info with other people which is necessary to disclose this data to affiliated people a new agreement are going to be signed among recipients.

Description of Confidential Information

Both parties really should be clear about what data is confidential. Disclosing party should clearly define confidential information to ensure recipient party might not exactly use any loopholes within the agreement.

Exceptions to Non-disclosure Agreement

There may be certain exceptions which do not cause breach of contract in the case of disclosure from recipient’s part. These exceptions occur when someone aside from recipient discloses confidential information. Clear information regarding these exceptions must be given in NDA.

Terms of Agreement

All relation to agreement should be clearly described plus in knowledge of involved parties as an example what is time limitation to hold the information confidential etc.

Disclosure Consequences

A non-disclosure agreement should contain information regarding non-exempt disclosure of info.

Additional Provisions

Other provisions that could be included in non-disclosure agreements working with return of company’s property after ceasing of contract.

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