This Confidentiality Agreement For Vendors is essential for businesses operating under Danish jurisdiction that need to share sensitive information with external vendors, suppliers, or service providers. The document is typically used before commencing detailed business discussions or engaging in service relationships where vendors will have access to confidential information, trade secrets, or personal data. It incorporates requirements from Danish data protection laws, including the Danish Data Protection Act (Databeskyttelsesloven), the Danish Trade Secrets Act (Lov om forretningshemmeligheder), and relevant EU regulations such as GDPR. The agreement is particularly important in today's digital business environment, where vendors often require access to sensitive systems, databases, or intellectual property to provide their services.
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Key Requirements PROMPT example:
Confidentiality Agreement For Vendors
1. Parties: Identification of the disclosing party (company) and receiving party (vendor), including registration numbers and addresses
2. Background: Context of the business relationship and purpose for sharing confidential information
3. Definitions: Definition of Confidential Information, Permitted Purpose, Affiliates, and other key terms
4. Confidentiality Obligations: Core obligations regarding non-disclosure, protection, and permitted uses of confidential information
5. Security Measures: Required security standards and practices for protecting confidential information
6. Return or Destruction: Obligations regarding the return or destruction of confidential information upon request or termination
7. Term and Survival: Duration of the agreement and survival of obligations after termination
8. Breach and Remedies: Consequences of breach, including injunctive relief and damages
9. General Provisions: Standard provisions including governing law, jurisdiction, and entire agreement
10. Execution: Signature blocks and execution details
1. Personal Data Protection: Additional provisions when confidential information includes personal data subject to GDPR
2. Subcontractors: Terms governing the vendor's use of subcontractors and their confidentiality obligations
3. Export Control: Provisions dealing with export control regulations when applicable
4. Insurance: Requirements for insurance coverage related to data protection and confidentiality breaches
5. Audit Rights: Rights to audit vendor's compliance with confidentiality obligations
6. Non-Solicitation: Restrictions on soliciting employees or customers, if relevant to the business relationship
1. Schedule 1 - Description of Confidential Information: Detailed categorization of types of confidential information to be shared
2. Schedule 2 - Security Requirements: Specific technical and organizational security measures required
3. Schedule 3 - Authorized Recipients: List of authorized personnel or roles permitted to access confidential information
4. Schedule 4 - Data Processing Terms: GDPR-compliant data processing terms if personal data is involved
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