A non-disclosure agreement commonly abbreviated to NDA is a legal agreement used when the parties involved in the agreement are to share confidential information between the parties but keep the information restricted from external parties.
An NDA is a legal contract whereby either or all the parties agree not to share information in accordance with the agreement. The purpose of an NDA is commonly to protect confidential information, usually when two parties are considering an agreement but need to know my information beforehand which may be confidential.
An NDA can also be referred to as a confidentiality agreement (CA), confidential disclosure agreement (CDA), proprietary information agreement (PIA) or secrecy agreement (SA).
Terms of trade agreements with suppliers:
Terms of trade agreement with a supplier or a "Supply Contract" is a legal contract between a business and an external supplier for the supply of an agreed set of products or services. The Supply Contract is an agreement usually set out to define the responsibility of the supplier.
Along with outlining the products or services to be provided by the supplier, the agreement can also cover, delivery timeframes, pricing or payment terms, responsibilities, warrantees or guarantees etc.
There can be a terms of trade agreement whenever a business will purchase products or services. By formulating an agreement, the business making the purchase will know what to expect from the supplier and the supplier will know what they should supply to the business and reduce any disagreements about each parties’ responsibilities and rights.
Taking on staff and legal contracts:
The following is a list of points which must be addressed by law• Minimum wage: The national minimum wage is an entitlement for all who are employed. The employer will pay staff at least what they are entitled to under the national minimum wage rate; • Whether the staff member has legal right to work within the UK: The employer should check that the employee has legal right to work before employing them. • A Disclosure and Barring Service (DBS) check, otherwise known as a CRB check: Depending on the sector the staff member will be working they may need to be DBS checked, it is the responsibility of the employer to know whether the staff member requires to be checked. • Employers’ Liability (EL) insurance: In most situations the employer will need EL insurance as soon as they start employing staff. Currently, an employer who does not have EL insurance can be fined £2,500 each day they do not have the required insurance. • A Written Statement of Employment: The employee must be given a Written Statement of Employment if they are to be employed for at least one month. • The employer must also notify HMRC that they are taking on new staff which can be done 4 weeks prior to the staff receiving payment. • The employer should check if the new staff member should be enrolled onto a workplace pension scheme.