- SMS FOR YOU will be providing SMS, Missed Call Services, Longcode and other services if required by the bank with Configuration as per RBI Alerts and Advisories and under the TRAI governed rules and regulations.
- The Receiving Party shall take all reasonable security precautions, including precautions as it would take to protect its own confidential information, to protect the secrecy of Proprietary and Confidential Information.
- The terms and conditions of this Agreement shall apply to all transactions and/or proposed business agreement(s) entertained into by the Parties for a period of [five (5) years] from the date of execution of this Agreement.The Parties agree to use their best efforts to prevent disclosure of all Proprietary and Confidential Information.
- All Proprietary and Confidential Information is and shall be the sole and exclusive property of the Disclosing Party. The Parties shall not take or cause any action, which would be inconsistent with or tend to diminish or impair the Disclosing Party’s rights in and to the Proprietary and Confidential Information.
- The Parties agree that the use of Proprietary and Confidential Information in a manner inconsistent with the terms of this Agreement will have an immediate, material, and adverse effect upon the Parties and will seriously and irreparably impair the viability of a proposed business transaction(s) under the terms of this Agreement.
- Proprietary and Confidential Information are provided solely for the purpose of the discussions of, and negotiations for, possible business agreements related to RBI and TRAI Compliance Guidelines. The Parties shall not use, or induce others to use, any Proprietary and Confidential Information for any other purpose whatsoever.
- The Parties shall not disclose or reveal any Proprietary and/or Confidential Information to anyone except those of their employees or agents on a “need to know” basis in order to effectuate the business agreements contemplated by the Parties.
- Furthermore, the Parties agree that in the event of circumvention by the Parties to the transaction or transactions or breach of the covenants and conditions of this Agreement, directly and/or indirectly, even after the contract is terminated due to any reason, the aggrieved Party will be irrevocably entitled to damages in an amount equal to the monetary loss by the aggrieved Party that is attributable to such a breach, and any other rights and remedies the aggrieved Party may have under the law.
- The Parties agree that if any dispute arises between the Parties hereto during the subsistence or thereafter, in connection with or arising out of this Agreement, and such dispute is not resolved amicably through negotiations within 30 (thirty) days of arising of the dispute, the dispute shall be referred to arbitration under the Indian Arbitration and Conciliation Act, 1996 by a sole arbitrator mutually agreed upon. In the absence of consensus about the single arbitrator, the dispute may be referred to joint arbitrators, one to be nominated by each party and the said arbitrators shall nominate a presiding arbitrator, before commencing the arbitration proceedings. Arbitration shall be held in Ahmedabad, India. The proceedings of arbitration shall be in the English language. The arbitrator’s award shall be final and binding on the Parties
- This Agreement shall be governed exclusively by the laws of India and jurisdiction shall be vested exclusively in the courts at Anand.
- Upon a Party’s request and/or in the event of termination of this Agreement, the other Party will deliver to the requesting Party all Proprietary and Confidential Information, as well as all documents, items, of whatever media comprising, or relating to the Proprietary and Confidential Information, as well as any other documents or materials belonging to the requesting Party that may be in the other Party’s possession. The other Party shall not retain any copies.
- If any clause of this Agreement is or becomes illegal, invalid, or unenforceable by any court of competent jurisdiction, such findings shall not invalidate the remainder of this Agreement.
- This Agreement constitutes the entire Agreement between the Parties hereto and supersedes all prior agreements between the Parties in relation to non-disclosure of Proprietary and Confidential Informationand shall not be waived, amended or assigned by either Party except by prior written consent of the other Party.
- All notices required or permitted to be given, under the terms of this Agreement, by one Party to the other shall be given in writing by personal delivery, telefax, e-mail or other facsimile transmission or by registered mail, postage prepaid, addressed to such party or delivered.
