Buy With Confidence | GMO Buy a Business

CONFIDENTIALITY AGREEMENT

There’s one important aspect we ask of you – As a prospective Buyer, please be professional, discrete and respect the confidentiality of the Business you are investigating. 

WHY SIGN A CONFIDENTIALITY AGREEMENT?

Be aware that selling a business is a vulnerable time for a business owner because staff, suppliers and clients can become somewhat unsettled on learning that a business is for sale. It has the potential to cause inconvenience to the business.Professionalism in buying is respecting this, hence we ask for your co-operation in treating a business owner’s right to having information treated confidentially. Confidentiality may mean being unable to meet or talk to the business’s staff, suppliers or clients until the offer is close to being “unconditional”.Imagine you have owned a business for five years and are asking GMO to market for you. You will expect GMO to be discrete and to manage the release of information carefully on your behalf.That is why we believe you will understand why we will ask you now to sign a confidentiality form, so our seller will be confident you and he/she are having a private dialogue on his business affairs and your private business aspirations!
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Whether you dream of buying a business, want to sell your Perth or WA business, or want to know the value of your company – GMO’s business brokers and valuers are here to assist you. We have won the City of Perth Award for Business Excellence and our Managing Director has been elected as a fellow of the Australian Institute of Business Brokers. Whether you are a buyer or a seller, GMO can introduce you to the right person.

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CONFIDENTIALITY DISCLOSURE AGREEMENT

  • The disclosers are willing to disclose such information to the recipient subject to their acceptance of the following conditions:
    1. The recipient shall treat all information received from the discloser as confidential and shall ensure that all such information remains confidential and shall not use any such information in any way other than for the specific purpose aforesaid. The recipient acknowledges that all conditions subsequent in this disclosure apply to the recipient and any associates of the recipient be they partners, co‐directors, trustees, holders of shares or officersin entity(s) the recipient has interest in.
    2. The obligations of paragraph 1 shall not extend to any such information which is in the public domain, or which hereafter becomes part of the public domain otherwise than as a result of any unauthorised activity or omission of the recipient, or which is already in the possession of the recipient and was not derived from the disclosers.
    3. The recipient shall return all such information received other than that which is submitted orally at the termination of such negotiations entered into as a result of this agreement.
    4. The obligations set forth in paragraph 1, 2 and 3 shall terminate 12 months from the date of this agreement or upon the disclosers and the recipients entering into an agreement whichever event occursfirst.
    5. The recipient shall obtain no rights of any kind to such information other than for the specific purpose stated in this agreement.
    6. The receiving party will not utilise any material made available to improve, construct or change another business, in such a way as to allow that business to compete with the business being discussed.
    7. The recipient understands that the information has been compiled by GMO from details provided by the Vendor. Prospective purchasers should be aware that it is not intended that any projections or this information be treated as a representation, warranty or promise by GMO or its representatives, as to the correctness of the information, or that all relevant information is contained in the information provided.
    8. The recipient acknowledges that they will not act on information provided without first seeking independent financial and legal advice.
    9. The recipient hereby agrees to declare any beneficial interest in any business that could currently be interpreted as being in competition with the subject business.
    10. The recipient agrees to return all documents supplied within 50 days of receipt (and any copies) should they decide not to proceed. The recipient further agrees to destroy any electronic information supplied by the Seller or GMO and to instruct their professional advisors to also destroy any information passed on by the Seller, the recipient or from GMO.
    11. The recipient acknowledges they are precluded from physically visiting the premises of the business or talking to any client, supplier or employee of the business without the permission of the discloser.
    The recipient/s hereby accepts the above conditions as binding on them in respect of the information referred to.
    By ticking you are accepting and agree to our Terms & Conditions including Confidential Disclosure Agreement & Privacy Policy.

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