An ICC NCND agreement sample is a legal document that outlines the terms and conditions of a business transaction between two parties. The acronym NCND stands for Non-Circumvention and Non-Disclosure, meaning that both parties agree not to disclose any confidential information or circumvent each other in the transaction.
The ICC NCND agreement is a standard form used by the International Chamber of Commerce (ICC) to regulate international trade, import, and export. This document is used to establish trust between the parties involved in the transaction and to ensure that the terms of the agreement are followed.
The ICC NCND agreement sample typically includes the following sections:
1. Introduction: This section provides background information on the parties involved in the transaction, including their names, addresses, and contact information.
2. Non-Circumvention Clause: This clause outlines the terms and conditions of the non-circumvention agreement between the parties. It states that neither party can directly or indirectly contact or do business with any third party involved in the transaction without prior consent from the other party.
3. Non-Disclosure Clause: This clause ensures that both parties agree not to disclose any confidential information about the transaction to any third party.
4. Governing Law: This section specifies the laws that govern the transaction, including the jurisdiction in which any disputes will be resolved.
5. Termination: This section outlines the circumstances that can lead to the termination of the agreement and the steps that must be followed in case of termination.
6. Signatures: The document is signed by both parties involved in the transaction, indicating their agreement to the terms and conditions of the agreement.
In conclusion, the ICC NCND agreement is a vital document in international trade, import, and export. It provides a framework for establishing trust and ensuring that confidential information is protected. The document is legally binding and must be taken seriously by all parties involved in the transaction. As with any legal document, seeking expert advice before signing is recommended.