Confidentiality Agreement

  • Business Brokers & Consultants, Inc, ("Broker") agreement with the Seller requires that a Confidentiality Agreement, Evidence of Financial Ability and General Background Information be obtained before disclosing the name and location of the Seller's Business. This information will be kept confidential. In consideration of the Broker providing the information on any listing of Broker, and as a Prospective Buyer, I understand and agree:  
    • That, at this time, Broker is not an agent for me but is an agent for the Seller and has a contract providing for a fee to be paid to Broker by Seller upon sale, trade, lease, or transfer of Seller's business, Real Estate and/or other property.
    • That any information provided on any business, Real Estate and/or property is proprietary and confidential, and that its disclosure to others may be damaging to the business, their owners, and their employees. I have requested this information for the purpose of evaluating the possible acquisition of the business. I understand that I am personally liable if I use it for any other purpose. In the event I do not purchase the Sellers business, I agree to promptly return all information provided including all copies, etc.
    • Not to disclose, for a period of three years from the date I sign this Confidentiality Agreement, any information regarding these businesses to any other person who has not also signed this Agreement, except to secure advice and recommendation of my business advisors (accountants, attorneys). "Information" as used in this Agreement shall include the fact that the businesses are for sale, plus any other data provided. Proprietary information obtained during investigation of businesses not purchased will not be used to the detriment of the Seller. I further agree that I shall not use in any manner, directly or indirectly, any confidential information. Specifically, I agree that I will not use any Confidential Information for my benefit or for the benefit of any person or entity, and will not permit or allow any Confidential Information to be used in competition with the Seller. As used in this agreement, the term "Confidential Information" means information that is not generally known about Seller or about his or her business, including without limitation, information about Sellers' products, services, databases, business plans, marketing plans and customer lists.
    • Not to contact the business owners or their landlords, employees, suppliers or customers, or have any communications with them except through Broker. All correspondence, inquires, offers to purchase and negotiations relating to the purchase or lease of any business or Real Estate presented by Broker will be conducted exclusively through Broker, which I acknowledge to be the agency first providing such information to me. 
Business Brokers & Consultants, Inc. 13121 Eastpoint Park Blvd. Suite D Louisville Kentucky 40223
502 425 0995 www.bbrokers.com 502 425 1850 (Fax)
    • I understand that should I buy, trade, lease, manage or exchange any of the businesses disclosed to me, within a period of 3 years of the date listed herein, that a fee will be due to the Broker from the Seller. I understand that if I make the purchase through Broker and the Broker is present at closing, I will not be liable for the fee paid by Seller to Broker. I therefore agree not to circumvent or interfere with the Broker's contract with the Seller in any way. I understand that if I do interfere with Broker's contracted right to its fee from the Seller I will be personally liable to Broker for payment.
    • That all information regarding businesses for sale is provided by the Sellers or other sources, and is not verified in any way by Broker. Broker has no knowledge of the accuracy of said information and makes no warranty, expressed or implied, as to the accuracy of such information. Understanding that, I shall make an independent verification following acceptance of my offer by Seller of said information, and any additional information I may request of Seller, prior to entering into a final agreement to purchase any business. I agree that Broker is not responsible for the accuracy of the information I receive or fail to receive, and I agree to indemnify and hold Broker and its agents harmless from any and all claims or damages which may occur by reason of the inaccuracy or incompleteness of any information provided to me with respect to any business or Real Estate I might purchase.
    • That should I enter into an agreement to purchase a business, I will provide a financial statement and a personal and business history, and I authorize the Broker and/or the Seller and/or his/ her landlord to obtain, through standard reporting agencies, financial and credit information about me or the companies I represent.
    • This Agreement and its representations, warranties and promises shall survive the closing of the sale of any business or Real Estate described to me, I acknowledge that I have received an exact copy of this Agreement and that I have read this Agreement carefully and fully understand it. This agreement shall be binding on the Buyers' successors, heirs and assigns.
    I ACKNOWLEDGE THAT I HAVE RECEIVED AN EXACT COPY OF THIS CONFIDENTIALITY AGREEMENT AND THAT I HAVE READ THIS AGREEMENT CAREFULLY AND FULLY UNDERSTAND AND ACCEPT ITS TERMS.  I FURTHER ACKNOWLEDGE THAT A FACSIMILY OR ELECTRONIC COPY OF THIS DOCUMENT AND ANY TYPED or ELECTRONIC SIGNATURES SHALL BE CONSIDERED FOR ALL INTENTS AND PURPOSES AS LEGAL AND FULLY BINDING AS IF SIGNED BY HAND.
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