Non-Disclosure & Confidentiality Agreement
Liberty Business Brokers of Ontario
The undersigned prospective purchaser(s) (“Buyer”) hereby acknowledges that, at this time, Liberty Business Brokers of Ontario (“the Brokerage”) is not an agent for the Buyer but is an agent for the Seller and has a contract providing for a fee to be paid to the Brokerage by the Seller upon sale, trade, lease or transfer of the Seller’s Business, Real Estate, and/or other property. All negotiations on behalf of the Seller are to be handled through the Brokerage. All offers, letters of intent or similar must be presented through or in the presence of the Brokerage.
The Buyer may request or see confidential information, currently and from this time forward, on businesses represented by the Brokerage for the sole purpose of considering a purchase of such businesses. Buyer hereby acknowledges that Liberty Business Brokers of Ontario first provided such information to the Buyer. In consideration of the Brokerage having provided such information, the Buyer herby agrees:
The Buyer shall have the right to share all of the information with Buyer’s representatives which include lawyers, accountants, banks, financial advisors, consultants and agents (collectively, “Buyer’s Advisors”)
Buyers are advised to seek counsel from a lawyer, accountant and any other advisors necessary to make an informed decision regarding the purchase of any business bought or sold through Liberty Business Brokers of Ontario. Buyer acknowledges and agrees that any information provided by the Brokerage to them shall not be construed as legal, tax, zoning, environmental, accounting, appraisal or valuation advice. Prior to finalizing an offer or agreement to purchase a business, it is the responsibility of the Buyer to make an independent investigation of the state of the Business and verification of the information shared with their professional advisors.
The Buyer certifies they have no affiliation or in any way work or have ever worked for The Canada Revenue Agency (CRA) or any Provincial Ministry of Revenue of any kind whatsoever. The Buyer acknowledges that all information and material on each business opportunity provided by the Brokerage has been provided to the Brokerage by the Seller of the business for confidential use by the Buyer for the sole purposes of evaluating a business opportunity as a potential Buyer. Any information disclosed, which constitutes a trade secret shall be entitled to all the protections and benefits under applicable trade secret laws. It is understood that money damages may not be a sufficient remedy for any breach of the Buyer’s obligation regarding confidentiality and it is hereby agreed that Liberty Business Brokers of Ontario and the owners of the businesses will be entitled to specific performance and injunctive relief in addition to all other remedies available at law or equity as further remedies for any such breach. The Seller believes that information to be true and accurate; however, accuracy is not guaranteed and all information should not be considered complete. While statements may be presented concerning a matter of opinion, whether or not so identified, these are only statements of opinion. Liberty Business Brokers of Ontario makes no representations or warranties, express or implied, regarding the information provided to Buyer.
Business opportunities by their very nature carry risk including obsolescence or reduced demand for service or product, regulatory laws, ineffective management, changes in the local or national economic condition, and many others. Due to the risks inherent in business opportunities, a Buyer could incur a loss, including but not limited to their entire investment. Buyer acknowledges that they understand these risks and that Liberty Business Brokers of Ontario cannot and does not in any way warrant or guarantee the future vitality or prospects of any business.
Buyer agrees to provide Liberty Business Brokers of Ontario with a current financial statement upon request.
I/we currently have available $ that could be used as a cash down payment on a business or property purchase.
The respective obligations of the parties under this Agreement shall survive for a period of three (3) years following the date hereof.
By signing below the prospective Buyer(s) acknowledges reading and understanding the disclosures stated above. Receipt of a copy and acceptance of the terms of this acknowledgement and agreement is herby acknowledged and confirmed.
Date:November 29, 2022
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Signed by Bill Sivell
Signed On: May 7, 2021
If you have questions about the contents of this document, you can email the document owner.
Document Name: Non-Disclosure & Confidentiality Agreement
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