Using your excellent Premium Unilateral NDA and it's fantastic.
With Unilateral NDAs the quid pro quo may be less easy to define. The template includes a typical nominal GBP1 value, but in the interest of relevance I was wondering if adding an explanation strengthens or weakens the case for sufficient consideration. Since consideration is probably the achilles heel of such documents, I wonder what's the safest approach.
Here's how I've modified the template:
The Recipient has entered into this Agreement, and agrees to the provisions of this Agreement, in consideration for the payment by the Disclosor to the Recipient of the sum of EUR 1.00, receipt of which the Recipient now acknowledges and in additional consideration for entering negotiations for a consultancy agreement regarding the entry of XYZ into the market of England in which case the Recipient will receive information that will assist them to provide more relevant quotes / bids as a potential supplier for providing advisory services to this extent.
Would it be best to use this as above, to edit the nominal value clause out of it, or to stick with the standard clause in the template?
No answers yet