Non Circumvention Agreement
Non-Circumvention Agreement
This Non-Circumvention Agreement (hereinafter referred to as the "Agreement") is entered into [DATE], (the "Effective Date"), by and between [YOUR NAME] (the "Disclosing Party"), and [PARTNER NAME] (the "Recipient Party"), (collectively referred to as the "Parties").
1. PURPOSE OF THE AGREEMENT
The Disclosing Party and the Recipient Party are entering into this Agreement to set forth the framework through which the Parties will cooperate in business pursuits and to clearly define the roles, responsibilities, and obligations of each. Both Parties wish to ensure their mutual relationships and contacts are not exploited to their detriment.
2. TERM OF THE AGREEMENT
This Agreement will start on the Effective Date and will continue until termination by either Party. Termination procedure, default, and its penalty will be covered in subsequent clauses under this Agreement.
3. RESPONSIBILITIES AND OBLIGATIONS
Each Party agrees to carry out their respective roles and responsibilities honestly, fairly, and with utmost good faith. No party shall partake, directly or indirectly, in any action or activity that may compromise the best interest of the partnership.
4. NON-EXPLOITATION CLAUSE
Each Party shall not exploit any business opportunity, contact, or relationship that has been made available or disclosed by the other Party. This includes but is not limited to, the usage of said contacts for logical business pursuit without prior written consent from the other Party.
5. TERMINATION
Either Party may terminate this Agreement with a written notice of 30 days. The termination notice needs to be served with reasonable reasons for termination valid according to the terms of this Agreement.
6. GOVERNING LAW
This Agreement, in terms of how it is governed and interpreted, will abide by and be comprehended in synchronization with the legal regulations of the jurisdiction. These limitations and regulations belong to the location in which the party performing the act of disclosing is situated.
7. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the Parties concerning the subject matter hereof and supersedes all prior understandings and agreements between the Parties, whether written or verbal.
[YOUR NAME]
[DATE SIGNED]
[PARTNER NAME]
[DATE SIGNED]
