An NCNDA agreement, also known as a non-circumvention and non-disclosure agreement, is a legally binding contract between two parties. This agreement is designed to protect the confidential information of both parties and prohibit them from disclosing any information to third parties without obtaining the other party`s permission.
The International Chamber of Commerce (ICC) is a well-respected organization that aims to promote international trade and investment. An ICC NCNDA agreement can offer additional protection for businesses engaged in international trade.
An ICC NCNDA agreement outlines the terms and conditions of the agreement between the two parties. It typically includes clauses relating to confidentiality, non-circumvention, and non-disclosure. The non-disclosure clause specifies that any information disclosed by one party to the other is considered confidential and cannot be shared with any third party without prior written consent.
The non-circumvention clause ensures that the party receiving confidential information cannot use it to circumvent the other party in any business transactions or deals. This clause protects the disclosing party from being cut out of future deals or transactions.
An ICC NCNDA agreement also contains provisions for the enforcement of the agreement, including the rights and remedies available to the parties in case of a breach. These provisions are critical in ensuring that both parties adhere to the terms of the agreement.
Overall, an ICC NCNDA agreement provides a solid framework for businesses engaged in international trade to protect their confidential information and business interests. With the help of an experienced attorney, businesses can tailor the agreement to their specific needs and ensure that their interests are protected.