BY ACCEPTING TO EXECUTE A PURCHASE ORDER ISSUED BY ESMECH EQUIPMENT PVT. LTD. (DISCLOSING PARTY) IN FAVOUR OF THE SUPPLIER (RECEIVING PARTY), THE RECEIVING PARTY AGREES TO THE FOLLOWING :
- In consideration of the disclosure of Proprietary Information by the Disclosing Party, the Receiving Party hereby agrees:
- to hold the Proprietary Information in strict confidence and to take all reasonable precautions to protect such Proprietary Information (including, without limitation, all precautions the Receiving Party employs with respect to its own confidential materials),
- not to disclose any such Proprietary Information or any information derived therefrom to any third person,
- not to make any use whatsoever at any time of such Proprietary Information except to evaluate internally its relationship with the Disclosing Party, and
- not to copy or reverse engineer any such Proprietary Information. The Receiving Party shall procure that its employees, agents and sub-contractors to whom Proprietary Information is disclosed or who have access to Proprietary Information sign a nondisclosure or similar agreement in content substantially similar to this Agreement
- Without granting any right or license, the Disclosing Party agrees that the foregoing shall not apply with respect to any information generally available to the public, or
- was in its possession or known by it prior to receipt from the Disclosing Party as evidenced in writing, except to the extent that such information was unlawfully appropriated, or
- was rightfully disclosed to it by a third party, or
- was independently developed without use of any Proprietary Information of the Disclosing Party.
- Immediately upon the written request by the Disclosing Party at any time, the Receiving Party will return to the Disclosing Party all Proprietary Information and all documents or media containing any such Proprietary Information and any and all copies or extracts thereof, save that where such Proprietary Information is a form incapable of return or has been copied or transcribed into another document, it shall be destroyed or erased, as appropriate.
- The Receiving Party further acknowledges and agrees that no representation or warranty, express or implied, is or will be made, and no responsibility or liability is or will be accepted by the Disclosing Party, or by any of its respective directors, officers, employees, agents or advisers, as to, or in relation to, the accuracy of completeness of any Proprietary Information made available to the Receiving Party or its advisers; it is responsible for making its own evaluation of such Proprietary Information.
- This Agreement shall be governed by the laws of India in the jurisdiction of Mumbai
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