Tripartite Non Disclosure Agreement
What is a tripartite agreement? Essentially, a tripartite agreement is just a document setting out the terms of an agreement between three separate parties, for example. B in the case of a transaction between two parties where a bank is the guarantor of one of the parties. The bank agrees that, without the prior written consent of the customer, it will not enter into any agreement with any other party to assume primary responsibility for this tripartite agreement. PandaTip: Quite simply, a tripartite agreement is an agreement between three parties. You could have a tripartite confidentiality agreement, a tripartite non-compete agreement – you call it. However, tripartite agreements are most common when banks are involved in a transaction. That is why we have taken a little freedom and developed a model for this type of tripartite agreement here. In this tripartite agreement, the bank is the guarantor of the contractor and assumes certain obligations regarding the transaction between the contractor and the customer. We have no doubt that this tripartite agreement needs some additional adjustments for your specific purpose, as there are endless possibilities. Be sure to have the assistance of your legal advisor.
Notwithstanding Covenants 6, 7 and 8, if the contracts are not renewed or terminated, this tripartite agreement between the customer, the contractor and the bank is automatically terminated by the service of a written notification to the bank. This tripartite agreement shall terminate automatically at the end of the period referred to in point 6 above. The bank, the contractor and the CLIENT agree that no person other than the parties to the agreements is designated as the beneficiary of the tripartite agreement or agreements, nor that any other person has the rights to it. The CLIENT has a right of pledge on the assets on the account in order to ensure the repayment of all funds in the account exceeding the deposit or any claim of the bank or the contractor concerning this account. The bank, the contractor and the customer undertake to comply with the provisions contained in all annexes or additions to this tripartite agreement that are attached and included therein. This Agreement (this “Tripartite Agreement”) applies from [date] and consists of [customer`s name] (hereinafter referred to as “customer”); [NAME OF CONTRACTOR] (hereinafter referred to as `the Contractor`); and [BANKNAME] (hereinafter referred to as “bank”). The CLIENT or his agents may request, at the Client`s expense, copies of the establishment and maintenance of the account as well as transactions. . . .