Confidentiality agreement (multi-party)

by Practical Law Commercial

A standard document that provides a multi-party (or multilateral) confidentiality agreement (also known as a non-disclosure agreement (NDA)). It is for use in commercial transactions under the law of England and Wales where three or more parties intend to share confidential information, and simplifies negotiations by avoiding the need for multiple bilateral agreements. The document defines the scope of confidential information, the permitted purpose for its use and the obligations of each party as a discloser or recipient. It sets out rules for disclosure to representatives and mandatory disclosures required by law. The document also contains provisions addressing the use of artificial intelligence (AI) and permitted disclosures to the Serious Fraud Office (SFO) concerning offences under the Bribery Act 2010 (BA 2010) and the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023). It also discusses key drafting issues to be aware of, including the Solicitors Regulation Authority (SRA) Warning Notice on NDAs and the impact of the Victims and Prisoners Act 2024 (VPA 2024).