NCNDA Agreement
Non-circumvention and non-disclosure
NON-CIRCUMVENTION, NON-DISCLOSURE AGREEMENT (NCNDA)
IRREVOCABLE MASTER FEE PROTECTION AGREEMENT (IMFPA)
International Chamber of Commerce (ICC) Standard
Ref: ICC Publication 619
Jurisdiction: International Trade Law
Date:
WHEREAS the undersigned wish to enter into this Agreement to define certain parameters of the future legal obligations, and are bound by a duty of Confidentiality with respect to their sources and contacts.
WHEREAS the undersigned desire to enter into a working business relationship to the mutual and common benefit of the parties hereto, including their affiliates, subsidiaries, stockholders, partners, co-ventures, trading partners, and other associated organizations.
NOW, THEREFORE in consideration of the mutual promises, assertions, and covenants herein and other good and valuable considerations, the receipts of which is acknowledged hereby, the parties create, this legally binding agreement.
1. TERM
This Agreement is valid for a period of from the date of signature of this agreement.
2. NON-CIRCUMVENTION
The parties agree not to disclose, reveal or make use of any information during discussion or observation regarding methods, concepts, ideas, product/services, or proposed new products or services, nor to do business with any of the revealed contacts without the written consent of the introducing party.
3. COMMISSION / FEE PROTECTION
The parties agree that a commission fee of shall be paid to the Intermediaries as per the Master Fee Protection Agreement (MFPA) to be signed for each specific transaction.
4. ARBITRATION
This Agreement shall be interpreted under the laws of . Any dispute shall be settled by binding arbitration in accordance with the International Chamber of Commerce (ICC) rules.
PARTY A (The Discloser / Seller Side)
Sign & Stamp Here
PARTY B (The Receiver / Buyer Side)
Sign & Stamp Here
The Importance of NCNDA
In commodity trading (oil, gold, sugar, etc.), intermediaries play a vital role. An **NCNDA** protects the broker from being cut out of the deal by the buyer and seller once introductions are made.
ICC Standards:
This template is based on the principles of ICC Publication 619, the industry standard for non-circumvention in international trade.