Broker Confidentiality Agreement for United Arab Emirates

Broker Confidentiality Agreement Template for United Arab Emirates

A comprehensive confidentiality agreement designed for use in the United Arab Emirates, specifically tailored for broker relationships across various sectors. The document incorporates UAE federal laws and regulations, including UAE Civil Code provisions and relevant commercial regulations. It establishes confidentiality obligations, defines the scope of protected information, and outlines specific requirements for information handling and security measures. The agreement includes provisions for both conventional and Islamic finance considerations, making it suitable for use across the UAE's diverse business landscape, including mainland UAE and free zones.

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What is a Broker Confidentiality Agreement?

The Broker Confidentiality Agreement is essential for protecting sensitive business information in broker-client relationships within the UAE. This document is typically used when a broker or brokerage firm needs access to confidential information to facilitate business transactions, whether in real estate, financial services, or other commercial sectors. The agreement ensures compliance with UAE federal laws, including Federal Law No. 5 of 1985 (Civil Code) and Federal Law No. 18 of 1993 (Commercial Transactions Law), while incorporating necessary provisions for data protection and commercial confidentiality. It is particularly relevant in the UAE market where business relationships often involve multiple jurisdictions and require robust protection of sensitive information.

What sections should be included in a Broker Confidentiality Agreement?

1. Parties: Identification of the broker and the disclosing party, including full legal names and addresses

2. Background: Context of the relationship and purpose of the agreement

3. Definitions: Key terms including 'Confidential Information', 'Permitted Purpose', 'Representatives', and other relevant definitions

4. Scope of Confidential Information: Detailed description of what constitutes confidential information under the agreement

5. Obligations of Confidentiality: Core confidentiality obligations, including handling, protection, and non-disclosure requirements

6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including to representatives and as required by law

7. Security Measures: Specific measures required to protect confidential information

8. Return or Destruction of Confidential Information: Requirements for handling confidential information upon termination or request

9. Duration and Survival: Term of the agreement and surviving obligations

10. Breach and Remedies: Consequences of breach and available remedies under UAE law

11. General Provisions: Standard clauses including governing law, jurisdiction, and entire agreement

What sections are optional to include in a Broker Confidentiality Agreement?

1. Data Protection Compliance: Specific provisions for compliance with UAE data protection laws, required if personal data is involved

2. Digital Information Security: Additional provisions for protecting digital information, needed if confidential information is primarily in electronic form

3. Broker's Representatives: Specific provisions regarding the broker's team members or subcontractors, needed if the broker will share information with others

4. Non-Solicitation: Restrictions on soliciting employees or clients, recommended for sensitive business relationships

5. Anti-Money Laundering Compliance: Required for financial sector brokers or real estate transactions

6. DIFC Specific Provisions: Required if either party is based in or the agreement relates to DIFC

7. Sharia Compliance: Required if the agreement needs to be Sharia-compliant

What schedules should be included in a Broker Confidentiality Agreement?

1. Schedule 1 - Specified Confidential Information: Detailed list or categories of confidential information covered

2. Schedule 2 - Authorized Representatives: List of individuals authorized to receive confidential information

3. Schedule 3 - Security Protocols: Specific security measures and protocols to be followed

4. Schedule 4 - Permitted Purpose Details: Detailed description of the permitted use of confidential information

5. Appendix A - Form of Confidentiality Undertaking: Template for confidentiality undertakings to be signed by representatives

6. Appendix B - Data Handling Procedures: Specific procedures for handling, storing, and destroying confidential information

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Publisher

Genie AI

Cost

Free to use
Clauses
Relevant Industries

Real Estate

Financial Services

Investment Banking

Insurance

Commercial Trading

Business Consulting

Mergers & Acquisitions

Private Equity

Venture Capital

Commercial Property

Securities Trading

Commodity Trading

Corporate Finance

Asset Management

Relevant Teams

Legal

Compliance

Risk Management

Business Development

Operations

Commercial

Finance

Investment

Real Estate

Corporate Affairs

Partnerships

Document Management

Information Security

Relevant Roles

Broker

Business Development Manager

Chief Executive Officer

Chief Financial Officer

Compliance Officer

Legal Counsel

Risk Manager

Investment Manager

Real Estate Agent

Financial Advisor

Transaction Manager

Business Consultant

Partnership Manager

Operations Director

Commercial Director

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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