Confidentiality Agreement

Last Updated: June 18, 2023

GTLSMART (hereinafter referred to as “Party B”) operates the website and provides mechanical processing solutions and services to its clients (hereinafter referred to as “Party A”). In the spirit of fairness, impartiality, mutual benefit, and win-win cooperation, and to ensure the confidentiality of sensitive information during long-term collaboration, the following agreement is reached through friendly negotiations:

I. Definition of Confidential Information

During the collaboration between both parties, all information or data related to business transactions or any information or data related to either party’s business or affairs (including but not limited to drawings, processes, design plans, technical specifications, quotations, purchase orders, contracts, research and development, production processes and plans, marketing and financial data, and other related confidential information) shall be considered as confidential information.

II. Rights and Responsibilities

  1. Party A shall provide Party B with technical drawings and processing requirements for the requested machining.
  2. Party B shall bear the responsibility of maintaining the confidentiality of any materials provided by Party A that are explicitly marked as confidential and shall not disclose them to any unrelated third parties without Party A’s consent.
  3. Party B shall be obligated to maintain the confidentiality of any information and technical data obtained from Party A regarding the relevant work. Party B may only share such information and technical data with third-party partners who have signed a confidentiality agreement with Party B, and Party B undertakes not to disclose Party A’s company information to them.
  4. Party B shall not showcase or provide samples of products processed by Party B on behalf of Party A to any third party without Party A’s permission.
  5. Party B shall effectively manage relevant personnel to ensure compliance with this agreement, including during and after their employment with Party B, within the confidentiality period.
  6. In the event that Party B discovers any leakage of confidential information during the confidentiality period stipulated in this agreement, Party B shall promptly notify Party A and take active measures to prevent any further losses.

III. Indemnification

Both Party A and Party B hereby acknowledge that the unauthorized disclosure or use of confidential information may result in incalculable and irreparable damages or significant losses to either party and its current or future clients. Both parties agree to compensate for any losses incurred by the other party due to their own violation of this agreement. Similarly, both parties agree that the injured party has the right to seek and immediately obtain injunctive relief from the relevant authorities to ensure the performance of all obligations or responsibilities under this agreement and to ensure that the injured party enjoys other rightful rights and receives compensation for damages.

IV. Agreement Term

This agreement shall be valid for a period of three years. In the event of termination or early termination of this agreement, Party B shall return all written materials or other documents containing information related to the confidentiality obligations to Party A. The confidentiality obligations shall not be released due to the suspension or termination of this agreement or matters related to this agreement. The recipient shall continue to fulfill the confidentiality obligations under this agreement for a period of three years after the termination of this agreement.

V. Arbitration

Any disputes arising from the performance of this agreement shall be resolved through friendly negotiations between the parties. If the negotiations fail, either party may bring a lawsuit to the local court where Party B is located.

VI. Agreement Effectiveness

This agreement shall come into effect upon signature by the representatives of both parties and affixation of their official seals. After the agreement is signed, neither party shall unilaterally modify or terminate this agreement. Any modifications or terminations of this agreement shall require the mutual consent of both parties. This agreement is made in duplicate, with each party holding one copy, both of which shall have the same legal effect.

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