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A Confidentiality Agreement (CA) or Non-Disclosure Agreement (NDA) is a legally
binding contract between two parties, where sensitive information is disclosed. The
purpose of the CA is to ensure that the person or company signing the document
agrees that any sensitive information obtained will not be made available to others
or used in any way except as described in the agreement.
When a vendor sells their business, they must prepare to share private and
confidential documents about their business. A Confidentialty Agreement provides
protection for the business owner from having their sensitive information shared or
used inappropriately.
It is beneficial for a prospective buyer to sign a Confidentiality Agreement in order
to gain access to key information about the business. The buyer can then take this
information to their accountant, lawyer or business advisor to make their own
assessment of the business and determine if the business suits their goals and
needs.
At Aslan Business Brokers, our vendor’s privacy and confidentiality is of utmost
importance. We require a CA form to be completed and a copy of a current photo ID
to be provided, before releasing any sensitive information.
Once we have received a signed Confidentiality Agreement, we will be able to
provide the prospective buyer with further information in regards to the business
such as the business address, financials, lease documents, supplier details, asset
lists and any other important information provided by the vendor.
If you have any questions, please contact your trusted Business Broker for more
information.