Non Disclosure Agreement For Sale Of Business Template for South Africa

1. Non-Solicitation: Prevents poaching of employees or customers, particularly relevant if parties are competitors

2. Non-Circumvention: Prevents the receiving party from bypassing the disclosing party to directly approach customers or suppliers

3. Exclusivity Period: Grants exclusive negotiation rights for a specified period, if agreed

4. Data Protection Compliance: Specific provisions ensuring POPIA compliance when personal information is involved

5. Competition Law Compliance: Special provisions when parties are competitors or transaction requires competition authority approval

6. Public Announcements: Controls over public statements about the potential transaction

7. Costs: Allocation of costs related to confidentiality measures and due diligence

8. Securities Trading Restriction: Prevents insider trading if either party is publicly listed

1. Schedule 1: Confidential Information: Detailed description of information categories covered by the agreement

2. Schedule 2: Authorized Representatives: List of individuals or roles authorized to receive confidential information

3. Schedule 3: Security Protocols: Specific security measures required for handling confidential information

4. Schedule 4: Due Diligence Process: Agreed procedure for sharing and reviewing confidential information

5. Schedule 5: Notice Details: Contact information and procedures for formal notices under the agreement