North Shore Restaurant Brokers NDA
VOICE: 978-594-7370 FAX: 339-883-3027
NON-DISCLOSURE AND CONFIDENTIALITY AGREEMENT (NDA)
I, (we) (please print name(s) clearly)
herein known as Buyer(s), hereby agree to conduct business through North Shore Restaurant Brokers, referred to herein as the Broker, with regard to the businesses advertised and provided by North Shore Restaurant Brokers. In conjunction with the possible purchase by you of the business which you have inquired about, North Shore Restaurant Brokers will be providing you information regarding this business, its financial profit and loss statements, operations and prospects, all of which are considered confidential Information. In consideration of obtaining such Proprietary Information, you the buyer(s) hereby agree:
1. Unless Broker and Seller agrees otherwise in writing, you will not disclose or reveal any Proprietary Information to any person(s) or entity (entities) other than your employees or representatives who are directly participating in the evaluation of this information for any purpose other than in connection with a proposed purchase.
2. If you decide you do not wish to pursue the proposed purchase, you will advise us of that fact, and return to us all Proprietary Information, and all copies thereof, which have been furnished to you by the Broker.
3. The Buyer(s) acknowledges that all information is from sources deemed reliable. North Shore Restaurant Brokers makes no warranty or representation, expressed or implied, as to the accuracy thereof and it is submitted subject to errors, omissions, changes and withdrawal from the market. It is also understood that this Agreement applies to any information previously supplied by North Shore Restaurant Brokers orally or in writing.
4. The Buyer(s) also agrees under no circumstances to approach or enter any property or business presented by North Shore Restaurant Brokers without a Broker being present. If the Buyer(s) violates this clause, Seller and or the Broker will bring legal action for damages and for violating this agreement.
5. The Buyer acknowledges that North Shore Restaurant Brokers is an agent of the Seller, and represents the seller.
Once you have signed and returned this agreement to us by fax or e-mail, we will be happy to provide appropriate information as requested. Additionally by signing below, you agree not to contact the Business Owner(s) or their landlords, employees, suppliers, customers, competitors or any other individual or entity related to the subject Business, once we have disclosed this information to you. This Agreement is a legal document that creates binding obligations. All parties have been advised to consult an attorney for the purpose of purchasing said business.
A 10% escrow deposit will be required upon signing of a Purchase and Sale Agreement and will be held in escrow by North Shore Restaurant Brokers in a non-interest bearing account. This deposit becomes part of your down payment for the business. It is understood that North Shore Restaurant Brokers will be the acting escrow agent in all transactions. This NDA covers you for all of our listings and is only valid for 6 months. We do not share your information with anyone or any entity what so ever, except the seller of the business. Any information that you provide to us is kept with the strictest confidentiality. It is understood that for any reason I/we decide not move forward any deposits will be returned to me in full.
