Sullivan Advises ITFA on the Launch of a New Mutual Non-Disclosure Agreement Template
London, UK – Sullivan & Worcester UK LLP (Sullivan) is pleased to have advised ITFA (the International Trade and Forfaiting Association), through its Market Practice Committee, on the development and launch of the new ITFA Mutual Non-Disclosure Agreement for risk sharing in trade transactions - English law (NDA).
The new template is available to ITFA members to help facilitate transactional information and has been designed as a two-way master document that can be used when parties to the agreement share information relating to trade transactions with each other.
The NDA removes the need for individual transactional Non-Disclosure Agreements to be executed, which is particularly relevant to the frequent flows in the secondary market for trade finance. The NDA is accompanied by Guidance Notes enabling users understand how to apply the NDA and to explain certain drafting decisions.
Geoffrey Wynne, head of Sullivan’s Trade & Export Finance Group and the London office, leading the team advising ITFA commented: “This new Mutual Non-Disclosure Agreement for risk sharing in transactions will provide further standardisation and efficiency particularly in the secondary market for the trading of trade finance transactions.”
Sullivan & Worcester (Sullivan) is a leading AmLaw 200 law firm. With over 200 attorneys in Boston, London, New York, Tel Aviv and Washington, DC. Sullivan’s clients, including Fortune 500 companies and emerging businesses, rely on Sullivan’s strategic vision, comfort with complexity and intense focus on results. As a global law firm, Sullivan represents clients around the world on a wide variety of matters and issues affecting them globally.
In London, the office’s market-leading and multiple award-winning trade finance practice is the premium provider of legal advice in relation to trade, export and commodity finance transactions to major trade finance banks and other financial institutions, funds, corporate borrowers, agents and trustees, and national and international organisations. The team’s unique offering includes an integrated insurance and dispute resolution service handling both transactional and contentious instructions.
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