Commercial Real Estate Confidentiality Agreement for New Zealand

Commercial Real Estate Confidentiality Agreement Template for New Zealand

This document is a comprehensive confidentiality agreement specifically designed for commercial real estate transactions in New Zealand, governed by New Zealand law. It establishes binding obligations for parties involved in potential property transactions to maintain the confidentiality of sensitive information shared during due diligence and negotiations. The agreement incorporates key requirements under New Zealand's Privacy Act 2020 and Property Law Act 2007, while addressing specific considerations for commercial real estate transactions, including property information, financial data, tenant details, and development plans.

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What is a Commercial Real Estate Confidentiality Agreement?

The Commercial Real Estate Confidentiality Agreement is essential in New Zealand's property market where significant commercial real estate transactions require extensive due diligence and information sharing. This document is typically used when parties are contemplating property sales, leases, or development projects and need to exchange sensitive information such as financial records, tenant details, development plans, and market analyses. It ensures compliance with New Zealand privacy and property laws while protecting the disclosing party's confidential information. The agreement is particularly crucial in the early stages of negotiations when sensitive commercial information needs to be shared but the transaction is not yet certain to proceed.

What sections should be included in a Commercial Real Estate Confidentiality Agreement?

1. Parties: Identifies and defines all parties to the agreement, including the disclosing party and receiving party

2. Background: Sets out the context of the agreement, including the purpose of sharing confidential information and the general nature of the proposed real estate transaction

3. Definitions: Defines key terms including 'Confidential Information', 'Permitted Purpose', 'Representatives', and 'Property'

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

5. Permitted Disclosures: Specifies circumstances under which confidential information may be disclosed, including to professional advisors and other authorized parties

6. Security Measures: Required measures for protecting and securing confidential information

7. Return or Destruction of Information: Requirements for handling confidential information after the agreement ends or upon request

8. Term and Termination: Duration of the agreement and circumstances for termination

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

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

What sections are optional to include in a Commercial Real Estate Confidentiality Agreement?

1. Broker Involvement: Required when real estate brokers are involved in the transaction, defining their rights and obligations regarding confidential information

2. Digital Security Measures: Additional section for transactions involving significant digital information or online data rooms

3. Competition Law Compliance: Required when parties are competitors or when information sharing could raise competition law concerns

4. Privacy Compliance: Detailed privacy obligations when personal information is included in the confidential information

5. Announcements and Publicity: Controls on public statements about the potential transaction, needed for sensitive or high-profile properties

6. Site Visits and Physical Access: Required when physical access to the property will be granted during due diligence

What schedules should be included in a Commercial Real Estate Confidentiality Agreement?

1. Schedule 1 - Property Details: Description and details of the subject property or properties

2. Schedule 2 - Confidential Information: Detailed list or categories of information deemed confidential

3. Schedule 3 - Authorized Representatives: List of individuals or roles authorized to receive confidential information

4. Schedule 4 - Security Protocols: Specific security measures and protocols required for handling confidential information

5. Appendix A - Due Diligence Checklist: List of documents and information to be provided during due diligence

6. Appendix B - Deed of Confidentiality: Form of confidentiality undertaking for third parties who need access to 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

Jurisdiction

New Zealand

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions
Relevant Industries

Real Estate

Commercial Property

Property Development

Property Investment

Property Management

Financial Services

Professional Services

Construction

Retail

Hospitality

Relevant Teams

Legal

Real Estate

Investment

Property Management

Asset Management

Due Diligence

Acquisitions

Risk Management

Compliance

Finance

Relevant Roles

Real Estate Director

Property Manager

Investment Manager

Legal Counsel

Commercial Property Agent

Development Manager

Asset Manager

Due Diligence Manager

Property Analyst

Acquisitions Manager

Chief Investment Officer

Portfolio Manager

Real Estate Partner

Facilities Manager

Transaction Manager

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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