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A Non-Disclosure Agreement (NDA)

A Non-Disclosure Agreement (NDA)

Fortifier works with health and money.

We know their importance and protect them.

 

How often you encounter obstacles and resistance because of security?

It’s known that insurance business should be protected from information leak, Internet-based risks, and more generally from risks relating to information technology infrastructure and activities.

How it makes on the technical side we have already told at Focus at IT Security for insurance software development 

But there is another key to doing so safely is making sure that the other party is bound to respect the confidential information you provide them and not use it to your detriment.

This point is very important for us, so Fortifier is always providing regular security-audit.

Today we continue this valuable theme and let us pay attention to Non-Disclosure Agreement (NDA).

Of course, you know that it is a legal contract that signifies a confidential relationship exists between the parties involved. Pay attention there are two types of Non-Disclosure Agreement: a “unilateral NDA” and a “mutual NDA”. A unilateral non-disclosure agreement is a document in which one party agrees not to disclose the information of another. A mutual non-disclosure agreement, on the other hand, is when both parties agree to not share the information third parties.

When should you use NDA?

Here are some typical situations where you may want to use a Non-Disclosure Agreement:

  1. Presenting an invention or business idea to a potential partner, investor, or distributor.
  2. Sharing financial, marketing, and other information with a prospective buyer of your business.
  3. 3. Showing a new product or technology to a prospective buyer or licensee.
  4. Receiving services from a company or individual who may have access to some sensitive information in providing those services.
  5. Allowing employees access to confidential and proprietary information of your business during the course of their job.

 

What information should be saved?

The confidential relationship often refers to information that is to be shared between all parties but should not be made available to the general public. NDAs are also commonly referred to as a confidentiality agreement.

Here at Fortifier, we use NDAs between an employer and employee. We appreciate your access to sensitive and privileged information about the company.

Well, you as a client can be sure in safe of all releasing information regarding any business processes integral to the company’s operations and avoid a costly legal headache.

Have you an idea…..but you can not do it on your own?

We understand that you want to protect an idea you have created.

We can agree about everything.  Almost everything.

Though NDAs may be customized to any necessary degree.

Pay attention to 5 major elements considered essential to include:

  1. The sections where are shown all details about the parties of the agreement.
  2. The definition of what constitutes confidential information is.
  3. The exclusions from confidential information.
  4. The obligations of the receiving party or even parties.
  5. The timeframe.

 

Ok, now you understand what Fortifier offers for each client.

And I know your next question… what is the worst possible case?

If an NDA is breached by one party. What will happen?

The other party may seek court action to prevent any further disclosures and may use the disclosing party for monetary damages. The court proceeding will be reviewed in the court that was approved before.

What are monetary damages?

Pay attention at our NDA and Contract, here you find a reasonable price.

Hope now you got all needed information and realized the safety and security of our IT cooperation.

Most people expect that insurers, given the sensitive customer information they handle, would boast robust cyber-security programs.

Let’s  conform to this standard!

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