Business owners are asked to disclose much information that is confidential and sensitive when going through the process of selling their businesses. In order to protect this information, we require all potential buyers to complete a confidentiality agreement and buyer profile. Please read and complete the following online confidentiality agreement and buyer profile. Once this document is submitted, we will be able to provide you with detailed information about any businesses we represent that you have an interest in reviewing. Thank you for your understanding.
CONFIDENTIALITY AGREEMENT
This Confidentiality Agreement will confirm our mutual understanding in connection with Hearing Asset Advisors. (“HAA”), providing, and your receipt of, information regarding businesses offered for sale through HAA. HAA is engaged by clients (“Seller”) to market and arrange the sale of their businesses and is in possession of confidential information provided by Seller. Undersigned parties (“Customer”) acknowledge their desire to receive from HAA such confidential information. In consideration of good and valuable service provided by HAA and confidential and valuable information provided, in good faith, by Seller, Customer agrees as follows:
Customer Shall Keep Information Confidential Customer acknowledges that any confidential information disclosed to others may be damaging to Business and Seller. Customer understands that confidential information includes: fact that business is for sale; financial details; business details; identity of suppliers and customers; and any other disclosed information not generally known by public. Customer agrees not to disclose confidential information to anyone other than his/her advisors and affiliates who shall also agree to be bound by the same confidentiality. Customer agrees that all copies of materials and data provided shall be confidential and shall be returned to HAA in the event that Customer decides not to pursue purchase of business.
Customer Shall Direct All Contact Through HAA
With regard to disclosed businesses, neither Customer nor Customer’s agents will contact the business owner, landlords, employees, suppliers, or customers except through HAA . All correspondence, inquiries, offers to purchase, and negotiations relating to the purchase of any business presented by HAA will be conducted exclusively through HAA .
Customer Shall Use Information For Evaluation Purpose Only Customer acknowledges and confirms that intent is solely to evaluate businesses for purchase and not for purposes of gaining information for business competitors, the IRS, or any other governmental or taxing agency.
Customer Shall Not Circumvent Seller and/or HAA Customer and/or its agents will not circumvent Seller and/or HAA by obtaining property leases, customers, employees, vendors, or any portion of businesses using knowledge gained through HAA. Customer and/or its agents will not circumvent HAA nor interfere with Seller’s contractual obligations to HAA if entering into a transaction with Seller which would reasonably be construed as a sale or transfer of interest, in whole or in part, in a business represented by HAA. If Customer and/or its agents should circumvent HAA and effect any such transaction with Seller within two years after the date of signing below, then Customer and Seller shall immediately become jointly and severally liable for the full commission specified in HAA’s contract with Seller.
Confidential Information Is Provided By Seller All information about the business is provided by the Seller and is not verified by HAA. Customer understands that purchasing a business represents investment risks and that Customer should obtain professional assistance from independent accounting, legal, and financial advisors to verify said information prior to consummating an agreement to purchase any business. Customer will not rely solely on the unverified information provided by HAA. Seller is the source of all representations made about the business. HAA cannot verify the accuracy of said information and makes no warranty, or guarantee, expressed or implied, as to the accuracy of such information.
HAA is Seller’s Agent HAA is not an agent for Customer, but is an agent for Seller and has a contract providing a fee to be paid to HAA by Seller upon sale, trade, lease, or transfer of the Seller’s business or property. Customer will not be responsible for the fee to the HAA if Customer purchases the business through HAA unless otherwise disclosed in writing. Any changes in representation by HAA must be in writing and shall be disclosed to all parties involved.
HAA has fiduciary duties of loyalty, obedience, disclosure, confidentiality, and accountability in dealing with the Seller. The HAA also has the duties, to both Buyer and Seller, to exercise reasonable skill and care in performance of the HAA function and to be truthful and honest and to disclose all material facts known to the HAA to that party that may be adversely affected by said facts.
We, the undersigned, understand and agree that this agreement is legally binding upon us and all our agents involved in the analysis and evaluation of disclosed information. We understand and agree that Seller and/or HAA has the right to seek any and all lawful remedies to enforce the terms of this agreement. We acknowledge that we have read and understand the disclosures contained herein.