The Commercial Real Estate Confidentiality Agreement is essential in Philippine real estate transactions where sensitive business and property information needs to be shared between parties. This document becomes necessary when potential buyers, lessees, or investors require access to confidential information about a commercial property, such as financial statements, tenant information, maintenance records, or development plans. It ensures compliance with Philippine laws, including the Data Privacy Act of 2012 and the Real Estate Service Act of 2009, while protecting the disclosing party's interests. The agreement is particularly crucial in the due diligence phase of property transactions, where detailed proprietary information must be shared to evaluate the opportunity. It establishes clear guidelines for information handling, permitted uses, and consequences of unauthorized disclosure under Philippine jurisdiction.
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1. Parties: Identifies and provides full details of all parties to the agreement, including their legal status and addresses
2. Background: Explains the context of the agreement, including the proposed real estate transaction and need for confidentiality
3. Definitions: Defines key terms including 'Confidential Information', 'Property', 'Permitted Purpose', and other relevant terms
4. Scope of Confidential Information: Clearly outlines what constitutes confidential information under the agreement
5. Confidentiality Obligations: Details the recipient's obligations regarding the use and protection of confidential information
6. Permitted Disclosures: Specifies circumstances under which confidential information may be disclosed and to whom
7. Security Measures: Outlines required security measures for protecting confidential information
8. Return or Destruction of Information: Procedures for handling confidential information after the agreement ends
9. Duration and Survival: Specifies the term of the agreement and which obligations survive termination
10. Breach and Remedies: Details consequences of breach and available remedies
11. General Provisions: Standard clauses including governing law, jurisdiction, and entire agreement
1. Representatives and Warranties: Additional representations about the parties' authority and information accuracy, used in more formal or high-value transactions
2. Data Privacy Compliance: Specific provisions addressing compliance with the Data Privacy Act, needed when personal data is involved
3. Intellectual Property Rights: Additional provisions protecting IP rights, used when proprietary information is involved
4. Non-Solicitation: Prevents poaching of employees or clients, included when there's significant business relationship risk
5. Public Announcements: Controls over public statements about the transaction, important for sensitive or high-profile deals
6. Force Majeure: Provisions for unforeseen circumstances, included in longer-term agreements
1. Schedule A - Property Description: Detailed description of the real estate property subject to the transaction
2. Schedule B - Specific Confidential Information: Itemized list of specific documents and information deemed confidential
3. Schedule C - Authorized Representatives: List of individuals authorized to receive and handle confidential information
4. Schedule D - Security Protocols: Detailed security measures and protocols for handling confidential information
5. Appendix 1 - Form of Confidentiality Undertaking: Template for additional parties who may need to sign confidentiality undertakings
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Banking & Financial Services
Retail
Hospitality
Manufacturing
Healthcare
Technology
Logistics & Warehousing
Education
Professional Services
Relevant Teams
Legal
Real Estate
Finance
Compliance
Risk Management
Business Development
Operations
Investment
Facilities Management
Property Management
Relevant Roles
Real Estate Director
Property Manager
Chief Financial Officer
Legal Counsel
Business Development Manager
Investment Analyst
Real Estate Broker
Facilities Manager
Asset Manager
Acquisitions Manager
Due Diligence Officer
Risk Manager
Compliance Officer
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