The Business Disclosure Agreement serves as a critical legal instrument in Saudi Arabian business operations where parties need to share sensitive information while maintaining confidentiality. It is particularly relevant when entering into negotiations, exploring business opportunities, or establishing partnerships where proprietary information, trade secrets, or sensitive business data must be exchanged. The agreement ensures compliance with Saudi Arabian commercial law and Sharia principles while protecting both parties' interests. It is commonly used before detailed commercial discussions, during due diligence processes, or when engaging with consultants or service providers. The document includes specific provisions for information handling, security measures, and breach remedies, all tailored to the Saudi legal framework.
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1. Parties: Identification of all parties to the agreement, including full legal names, addresses, and registration details
2. Background: Context of the business relationship and purpose of sharing confidential information
3. Definitions: Detailed definitions of key terms, especially 'Confidential Information', 'Authorized Recipients', and 'Permitted Purpose'
4. Scope of Confidential Information: Detailed description of what constitutes confidential information under the agreement
5. Obligations of Confidentiality: Core confidentiality obligations, including handling, storage, and protection of confidential information
6. Permitted Disclosures: Circumstances under which confidential information may be disclosed and to whom
7. Security Measures: Required security measures for protecting confidential information
8. Return or Destruction: Obligations regarding the return or destruction of confidential information
9. Duration and Survival: Term of the agreement and surviving obligations
10. Breach and Remedies: Consequences of breach and available remedies under Saudi law
11. Governing Law and Jurisdiction: Confirmation of Saudi law as governing law and jurisdiction provisions
1. Electronic Information Handling: Additional provisions for digital information handling and cybersecurity requirements
2. International Transfer: Include when confidential information may be transferred outside Saudi Arabia
3. Shariah Compliance: Explicit confirmation of Shariah compliance, particularly relevant for financial institutions
4. Competitive Restrictions: Additional non-compete or non-solicitation provisions if relevant to the business relationship
5. Government Reporting: Procedures for mandatory government reporting or regulatory compliance
6. Third Party Rights: Rights of third parties in relation to the confidential information
7. Force Majeure: Provisions for circumstances beyond parties' control affecting confidentiality obligations
8. Language: Language provisions when dual Arabic-English versions are required
1. Schedule 1 - Specified Confidential Information: Detailed list or categories of confidential information covered
2. Schedule 2 - Authorized Recipients: List of individuals or roles authorized to receive confidential information
3. Schedule 3 - Security Protocols: Specific security measures and protocols to be followed
4. Schedule 4 - Destruction Procedures: Detailed procedures for destruction or return of confidential information
5. Appendix A - Form of Confidentiality Undertaking: Template confidentiality undertaking for authorized recipients
6. Appendix B - Information Security Standards: Detailed technical and organizational security standards
Relevant legal definitions
Clauses
Relevant Industries
Technology
Financial Services
Manufacturing
Healthcare
Energy & Oil
Construction
Professional Services
Telecommunications
Pharmaceuticals
Real Estate
Defense
Education
Mining
Retail
Logistics
Relevant Teams
Legal
Compliance
Executive Leadership
Business Development
Information Technology
Research & Development
Finance
Operations
Risk Management
Procurement
Corporate Affairs
Strategy
Information Security
Human Resources
Relevant Roles
Chief Executive Officer
Legal Counsel
Chief Financial Officer
Business Development Manager
Project Manager
Procurement Manager
Research Director
Technology Officer
Operations Manager
Risk Manager
Compliance Officer
Strategy Director
Investment Manager
Corporate Secretary
Department Head
Managing Director
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