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A confidentiality agreement / mutual NDA to monitor the data and information relating to the property that is subjected to sale. In a proposed transaction for a contract of sale, it is sometimes to necessary to sign a confidentiality agreement as there may be a tenant who is still occupying the premises and it is necessary to protect their interests while the buyer seeks for information about the property.
This confidentiality agreement provides includes the following details:
(a) Procedures for the exchange of information
(b) Limits of investigations and inspections
(c) Relevant contacts in relation to the property
(d) Duration of obligation
(e) Relations with any third-parties
How to use this Document?
This letter is drafted in favour of the seller. The buyer who is interested in the purchase should carefully read and review the terms and conditions within this agreement.
This confidentiality agreement should be used by buyers and sellers who are at their initial stages of sale or lease of a property. Neither did the buyer launch any investigations nor did the seller send out any relevant documents.