ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND
When it comes to international trade, it is essential to have a solid contract in place that outlines the roles and responsibilities of every party involved, including intermediaries. The International Chamber of Commerce (ICC) has developed model contracts that are widely used in various industries, including the ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND.
What is an occasional intermediary?
An occasional intermediary is a person or entity that facilitates business between parties that are not related or known to each other. This intermediary is not a permanent agent or representative of any party but rather acts as an intermediary for a specific transaction or deal.
What is the purpose of the ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND?
The ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND outlines the obligations and responsibilities of the occasional intermediary, the principal supplier, and the final buyer. The primary purpose of the contract is to protect the interests of the parties involved and prevent any unauthorized disclosure, circumvention, or use of confidential information.
The NCND clause in the contract
The Non-Circumvention and Non-Disclosure (NCND) clause is a critical component of the ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND. This clause prohibits the parties involved from disclosing any confidential information to third parties and from circumventing each other in future transactions related to the products or services agreed upon in the contract.
The NCND clause is often included in other types of contracts as well, including joint venture agreements, licensing agreements, and distributorship agreements, among others. Its purpose is to prevent the leaking of intellectual property, trade secrets, and confidential information that could compromise the interests of the parties involved.
Key elements of the ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND
The ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND includes the following key elements:
– Identification of the parties involved (occasional intermediary, principal supplier, and final buyer)
– The products or services that are being sold or facilitated
– The obligations and responsibilities of the parties involved
– The terms of payment and compensation for the occasional intermediary
– The duration of the contract and the termination clauses
– The NCND clause and the consequences of any breach
Why use the ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND?
The ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND provides a standardized and reliable framework for international trade transactions involving occasional intermediaries. The use of this model contract ensures that the rights and obligations of the parties involved are clearly defined, and that the confidentiality of any sensitive information is protected.
Conclusion
The ICC Model Contract Occasional Intermediary (Non-Circumvention and Non-Disclosure) NCND is an essential tool for any business engaging in international trade. The NCND clause, in particular, is crucial for protecting the interests of the parties involved and preventing any unauthorized disclosure or use of confidential information. By using this standardized model contract, businesses can ensure that their transactions are conducted fairly, transparently, and securely.