NCND CA Agreement.
I have a question. Below is a NCND CA Agreement that I intend to use. I am not seeking legal advice or opinions, just suggestions, critiques, etc. I have buyers. I have sellers. I have reps for both, each, all across the RE investment board. I have licensed folks, their licensed agents, sales persons, etc. My question is, after reviewing, critiquing it, considering suggestion, etc., would you agree to my terms? or offer modifications that you would agree to? The fact that such an agreement is needed indicates I don't have control on one side or the other. But I am inclined to secure and protect my relationship with them.
IMO, if and when it becomes a legal issue, somebody misunderstood something somewhere along the line, or was flat out focused on wrong intent from the git go.
Non-Circumvent Agreement
NON-CIRCUMVENTION, NON-DISCLOSURE AND CONFIDENTIALITY AGREEMENT
THIS AGREEMENT entered into as of the first date at the bottom of this document is for the Professional Association and arrangement of Non-Circumvention between the undersigned and Marvin Spears, sometimes dba Po Folks Enterprises where applicable, hereinafter, called the "The parties," outlines the prospective agreement of residential and/or commercial properties.
The parties agree to respect the integrity and tangible value of this agreement between them.
This agreement is a perpetuating guarantee for one (1) year from the date of execution and is to be applied to any and all transactions present and future, of the introducing party, including subsequent follow-up, repeat, extended, renegotiated, and new transactions regardless of the success of the project.
Because of this agreement, the parties involved in this transaction may learn from one another, or from principals, the names and telephone numbers of investors, borrowers, lenders, agents, brokers, banks, lending corporations, individuals and/or trusts, or buyers and sellers hereinafter called contacts. The parties with this acknowledge, accept and agree that the identities of the contacts will be recognized by the other Party as exclusive and valuable contacts of the introducing Party and will remain so for the duration of this agreement.
The parties agree to keep confidential the names of any contacts introduced or revealed to the other party, and that their firm, company, associates, corporations, joint ventures, partnerships, divisions, subsidiaries, employees, agents, heirs, assigns, designees, or consultants will not contact, deal with, negotiate or participate in any transactions with any of the contacts without first entering a written agreement with the Party who provided such contact unless that Party gives prior written permission. Such confidentiality will include any names, addresses, telephone, telex, facsimile numbers, and/or other pertinent information disclosed or revealed to either Party.
In case of circumvention, the parties agree and guarantee that they will pay a legal monetary penalty that is equal to the commission, fee or compensation the circumvented party should have realized in such transactions, by the person(s) engaged on the circumvention for each occurrence. If either party commences legal proceedings to interpret or enforce the terms of this agreement, the prevailing party will be entitled to recover court costs and reasonable attorney fees.
The parties will construe this agreement in accordance with the laws of each State of the United States of America wherein the subject residential and/or commercial property (ies) exist If any provision of this agreement is found to be void by any court of competent jurisdiction, the remaining provisions will remain in force and effect.
THIS AGREEMENT contains the entire understanding between the parties and any waiver, amendment or modification to THIS AGREEMENT will be subject to the above conditions and must be attached hereto.
A facsimile copy of this Non-Circumvention Agreement shall constitute a legal and binding instrument. By setting forth my hand below I warrant that I have complete authority to enter into THIS AGREEMENT.
Name (printed): _________________________________________________________________
Signature: __________________________ Date signed: ____________
Name (printed): __________________________________________________ Date signed: ________________
Company Name (if applicable):__________________________________________________________________
Signature (or authorized to sign): ________________________________ Date signed: _________________