Confidentiality Agreement

In consideration of TIME Business & Commercial – TIME Property Group Pty Ltd (“Broker”) and it is Client (“Vendor”) providing certain information in relation to the business and affairs of the vendor to the recipient/company (“Confidential Information”), the recipient/company acknowledge that the confidential information is confidential and that disclosure thereof could cause damage to the client and/or the Broker, therefore jointly and severally undertake:-

1. not to disclose the Confidential Information to any other person, including the Clients Landlords, suppliers, customers, or employees;

2. to use the Confidential Information solely for the purpose of assessing, and evaluating the opportunity to purchase the said business; 


3. not to use or allow the Confidential Information to be used to gain a business or other advantage to the person or persons in receipt of the Confidential Information; 


4. to discuss the Confidential Information only with professional advisors (Solicitors, Accountants, Valuers, Bankers) who have agreed to the confidentiality undertaking referred to herein; 


5. to keep the Confidential Information and all copies of financials, leases, BAS Statements, tax returns, staff rosters, wages and other records of Confidential Information under its control at all times; 


6. to immediately return to the Broker upon request (verbal or written), all Confidential Information referred to in 5. (above) and all other correspondence which may exist in relation to the said business; 


7. not to discuss the business or the Clients information with any party other than referred to in 4. above; 


8. not to disclose to any other party the opportunity or any discussions that may have taken place with the Client in relation to 
the said business; 


9. in the event that the recipient/company breach any term of this agreement, the recipient/company is hereby liable to the 
Broker for any and all loss and damage arising either directly or indirectly from the breach of this agreement. The loss and damage includes but is not limited to all costs of the broker in respect of the lost sale, amounts commensurate with the amount the broker would have received from the vendor had the purchaser not breached this agreement, and all legal costs associated with the breach on an indemnity basis. The recipient/company hereby acknowledges that they have read and agreed to this clause and that the loss and damages listed are reasonable. 


10. Acceptance by Electronic Mail: Execution of this Agreement and transmission between the parties by electronic signature and email response 
each to the other or their representative will constitute offer and acceptance and satisfy the requirements of Section 5 of the Electronic Transactions Act 2002.