Financial Confidentiality Agreement Template for Austria

The Financial Confidentiality Agreement is essential for businesses operating in Austria's financial sector where sensitive financial information needs to be shared between parties. This document is particularly crucial when financial institutions, corporations, or professional services firms need to exchange confidential financial data, proprietary information, or customer details. The agreement ensures compliance with Austrian legal requirements, including the Austrian Banking Act (BWG), Civil Code (ABGB), and EU GDPR, while providing robust protection for confidential information. It's commonly used in financial transactions, due diligence processes, professional engagements, and financial advisory relationships where parties need to share sensitive financial data while maintaining strict confidentiality and regulatory compliance.

1. Parties: Identification of the contracting parties, including full legal names, registration details, and addresses

2. Background: Context of the agreement, nature of the financial relationship, and purpose of information sharing

3. Definitions: Detailed definitions of Confidential Information, Financial Data, Permitted Purpose, Authorized Representatives, and other key terms

4. Scope of Confidential Information: Detailed description of what constitutes confidential information, including financial data, trade secrets, and proprietary information

5. Confidentiality Obligations: Core obligations regarding the protection, use, and non-disclosure of confidential information

6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including to authorized representatives and regulatory authorities

7. Data Protection and GDPR Compliance: Specific provisions ensuring compliance with GDPR and Austrian data protection laws

8. Security Measures: Required technical and organizational measures to protect confidential information

9. Return or Destruction of Information: Procedures for handling confidential information upon termination or request

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

11. Breach and Remedies: Consequences of breach and available remedies including injunctive relief

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