All decision makers, potential owners, or business partners must agree to execute (sign) and be bound by the terms of this Agreement. If someone else has a need to know in order to help you evaluate the opportunity, he/she must also agree to sign and honor the terms of this Agreement.
Any information the Seller or Broker provides to you about the business, except that which is common or public knowledge, cannot be disclosed to any outside party including advisors, friends & relatives, unless they have signed this Agreement. You must provide Restaurant eXchange with the Agreement(s) signed by others involved.
The fact that a business is “on the market” is confidential information unless a public sign is posted, the specific name and address are listed in public marketing sites, or the Broker specifically states that a particular sale is “not confidential”. You must consider the sale to be confidential until told otherwise by Broker.
Unless disclosed otherwise, you acknowledge that you first learned of a business’ availability through communication with Restaurant eXchange or its Agents.
You agree to conduct all communication with the businesses through Restaurant eXchange. Under no circumstances should you, or anyone involved in your search or transaction, directly contact the owners, employees, landlord, suppliers, customers, or neighboring tenants of a business unless specifically authorized to do so by Restaurant eXchange.
If you are purchasing a franchise, you must get permission from Broker before disclosing the actual franchise location being purchased to the Franchisor.
If you develop an interest in a business, you will be allowed and encouraged to interview the Seller and inspect the assets and facility. These activities normally take place outside of business hours, and must be arranged by advance appointment through Restaurant eXchange.
You are expected to first visit the business as a “customer” to determine if you have an interest in the business or location before requesting a meeting with the Seller or a tour of the business. If you are visiting from out of the area with limited time, please give Broker advance notice so that a tour or meeting can be arranged for you.
Any information provided about a business shall be used only for the purpose of evaluating the business for possible acquisition by you or your principal(s). If you or your principal(s) are involved in a similar or competing business, you must disclose this information to Broker prior to receiving business information.
You shall not make or distribute copies of any documents provided to you about a business being evaluated without permission from Broker. Upon demand by Restaurant eXchange or the Seller of a business, you shall immediately return all documentation about a business to Restaurant eXchange.
A breach of this Confidentiality Agreement could result in actual financial and operational hardship for a business owner. This may include but not be limited to loss of employees, loss of customers, loss of competitive advantages, or damage to the relationship with Suppliers, a Franchisor, or the Landlord.
If you breach this agreement, you will no longer be allowed access to information about business opportunities represented by Restaurant eXchange. Furthermore, if you are found responsible for damages to a business, you will be liable for losses and damages incurred by the Seller and Restaurant eXchange, to the extent allowable by Federal and California law, to include legal fees and collection costs.