Non-Disclosure Agreement (NCND):
agreement between two or more parties specifying that none of the parties will
go around each other to transact directly with the originator of the
transaction, nor will any of the parties disclose the particulars of the
transaction covered by the agreement. The terms of the agreement normally
include a specified period of time during which the agreement will remain in
force, and make allowances for disclosure on the part of one party to the
agreement with written permission from the other parties. NCND's are
enforceable in civil court.
are used for any type of transaction in which an agent wishes to protect his
commissions and contacts, or when proprietary information needs to be kept
discreetly between agreeing parties.
Scam: In the UNDERGROUND
NETWORK NCND's are handed out right, left, and center.
It is the very first request from one INTERMEDIARY
to another. Often everything is crammed into one of these NCND's so that
they may run several pages, with the signatory page being rife with parties to
the agreement. Even commission figures are sometimes included, although
commissions are part of a separate agreement in the normal course of
business. One sure-fire way to spot a phony NCND is by a referral to the
CHAMBER OF COMMERCE (ICC) UCP500. The UCP500 is
a booklet that outlines standard practices for DOCUMENTARY
CREDITS and has absolutely nothing to do with