The Commercial Real Estate Non Disclosure Agreement is essential for protecting sensitive information exchanged during property transactions in the Philippines. This document should be used whenever parties need to share confidential information relating to commercial real estate, such as during property negotiations, due diligence processes, or potential investment discussions. The agreement covers various types of confidential information including property valuations, financial projections, tenant information, development plans, and market analyses. Governed by Philippine law, it includes specific provisions addressing local property regulations and data protection requirements under the Data Privacy Act of 2012. The document is particularly important given the high-value nature of commercial real estate transactions and the need to protect proprietary information while parties evaluate potential deals.
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1. Parties: Identifies the disclosing and receiving parties, including their legal names, addresses, and company registration details
2. Background: Explains the context of the agreement, including the nature of the proposed real estate transaction or relationship
3. Definitions: Defines key terms including 'Confidential Information', 'Property', 'Permitted Purpose', and other relevant terms
4. Scope of Confidential Information: Specifies what constitutes confidential information in the context of the real estate transaction, including property details, financial information, and business plans
5. Obligations of Confidentiality: Details the receiving party's obligations regarding the protection and non-disclosure of confidential information
6. Permitted Disclosures: Outlines circumstances under which confidential information may be disclosed, including to professional advisors and as required by law
7. Security Measures: Specifies the security measures required to protect confidential information
8. Return or Destruction of Confidential Information: Procedures for handling confidential information upon termination or request
9. Duration and Survival: Specifies the term of the agreement and which provisions survive termination
10. Breach and Remedies: Details the consequences of breach and available remedies including injunctive relief
11. Governing Law and Jurisdiction: Specifies Philippine law as governing law and sets jurisdiction for disputes
12. General Provisions: Standard provisions including entire agreement, amendments, severability, and notices
1. Representatives and Contact Persons: Used when specific individuals are designated as primary contacts for handling confidential information
2. Electronic Information Security: Include when significant electronic data will be shared, specifying cybersecurity requirements
3. Competitive Activity Restrictions: Used when there's a need to restrict the receiving party from competing or using information for competitive purposes
4. Public Announcements: Include when there's a possibility of public interest in the potential transaction
5. Data Privacy Compliance: Include when personal data under the Data Privacy Act will be shared
6. Third Party Rights: Include when confidential information of third parties may be involved
7. Force Majeure: Include when long-term information sharing arrangements are contemplated
1. Schedule 1 - Description of Property: Detailed description of the real estate property or properties involved
2. Schedule 2 - Authorized Recipients: List of individuals or roles authorized to receive confidential information
3. Schedule 3 - Security Protocols: Detailed security measures and protocols for handling confidential information
4. Appendix A - Form of Confidentiality Undertaking: Template for confidentiality undertaking to be signed by authorized recipients
5. Appendix B - Document Return/Destruction Certificate: Template certificate confirming return or destruction of confidential information
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