Should Non Disclosure Agreement Stamp Paper

Generally speaking, you are bound by any clause in the agreement that prevents you from disclosing confidential information for a specified period of time after the termination of the contract. Be sure to read the terms and act accordingly. A confidentiality agreement, commonly referred to as a «confidentiality agreement», is an agreement by which the parties agree to communicate the confidential information/data contained in the «confidentiality clause» of the confidentiality agreement. The parties to the confidentiality agreement also undertake not to disclose this information to third parties beyond the terms of the contract Penalties for breach of the agreement are usually set out in the agreement itself and infringements or infringements are dealt with accordingly. If the penalty is not set out in an agreement, it is clearly stated that the person guilty of the violation or offence is prosecuted for such misappropriation. An NDA is a legally binding document or contract governed by the Indian Contracts Act 1872. It is recommended that the NDA be stamped to ensure additional validity and applicability. NDA with Witnesses has a twelve-year limitation period to assert a breach in court, while the statute of limitations for an agreement without a witness is six years. Printing NDA on stamp paper is not mandatory.

It can be printed on the company header and signed by the parties on both sides of each page. If one chooses to print it on stamp paper, this should be done on an extrajudicial or electronic stamping document available in some States. The amount of stamp paper varies from state to state. Once printed, it should be signed in the presence of one or more witnesses and could be notarized. The stamp is a necessary procedural formality without which, under normal circumstances, your act is not accepted by the courts. The rate of stamp duty on a confidentiality agreement varies from state to state, but should generally be between 20 and 100 in most Indian countries. The jurisdiction clause defines the courts whose city has jurisdiction over the confidentiality agreement in the event of a dispute between the parties. It is therefore very important to agree and define within the NDA that the courts whose city is responsible for the dispute and the agreement violated are competent. […] Standardized exceptions to disclosure should […] There may be some exceptions for the disclosure of confidential information to third parties, such as government authorities, or for legal proceedings. In such situations, the disclosure of such confidential information is not considered an offence.

It is therefore appropriate to indicate the necessary derogations from the NDA. As a general rule, the parties can choose to have an agreement certified by a notary. The function of notary is that of witness; an authentic deed means that the notary has personally witnessed the signing of the contract by the parties. In the absence of a witness, a party could invent many excuses to argue that it is not bound by the terms of the contract. For example, he could argue that he never signed the contract or that the signature is not his or that his signature was falsified by someone else. While in India there is no legal obligation to use a notary to enter into agreements, an authentic deed is useful to prevent the parties from refusing to perform (signature) the contract itself. The cost of the authentic deed varies from city to city.. . .