M/s S.Core Advisory Services Pvt. Ltd. has submitted its bid invited through International Bidding Process by RE Textiles & Yarns Ltd. Being a lowest bid, the letter of award was issued in favour of M/s S.Core Adviso
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2018
M/s S.Core Advisory Services Pvt. Ltd. has submitted its bid invited through International Bidding Process by RE Textiles & Yarns Ltd. Being a lowest bid, the letter of award was issued in favour of M/s S.Core Advisory Services Pvt. Ltd. for providing consultancy services to set up a Knitting Fabric Plant at Maharashtra. M/s S.Core Advisory Services Pvt. Ltd. is already providing consultancy services to various organizations in India and outside India. RE Textiles & Yarns Ltd. asks M/s S.Core Advisory Services Pvt. Ltd. to enter into a Non Disclosure Agreement. The Agreement is proposed to be signed at Mumbai. The Management of RE Textiles & Yarns Ltd. wants to include the following clauses in the Agreement: (1) No Title to Use (2) No Obligation to Disclose, No Representations Prepare a brief note on above two clauses required to be included in the Non-Disclosure Agreement.
Answer & Explanation:
The Model contents of the clauses to be included in the Non-Disclosure Agreement are as under: (1) No title of Use Nothing contained in this Agreement shall be construed as conferring upon the Receiving Party any right of use in or title to Confidential Information received by it from the Disclosing Party, other than as expressly provided herein:- (2) No Obligation to Disclose, No Representations Nothing in this Agreement shall be construed as- (i) creating an obligation on any of the Parties to disclose particular information; or (ii) creating an obligation on the parties to negotiate; or (iii) as a representation as to the accuracy, completeness, quality or reliability of the information.
Topics: Due Diligence
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