Insurance terminology explained in simple terms
A nondisclosure agreement (NDA), or confidentiality agreement, is concluded between two contracting parties in order to maintain the confidentiality of confidential data.
For example, freelancers commissioned by companies may sign a nondisclosure agreement stating that they will keep all information made available to them within the scope of the assignment confidential - even after the assignment has ended.
A contractual penalty is agreed in the event of a breach of a nondisclosure agreement.
Claims for damages and contractual penalties due to the breach of confidentiality and nondisclosure agreements as well as breaches of data protection agreements are included in the Professional Indemnity Insurance from exali.
Term: Nondisclosure Agreement
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