Restraint of Trade Agreement
A company that wants to prevent an employee, agent or business associate from conducting business activities in competition with it can use this Restraint of Trade Agreement.
RESTRAINT OF TRADE AGREEMENT
Summary A company that wants to prevent an employee, agent or business associate from conducting business activities in competition with it can use this Restraint of Trade Agreement.
Who should use this Restraint of Trade Agreement? Businesses regularly disclose confidential information to employees, agents or business associates, including exposing people to trade secrets, sensitive business information, valuable contacts and proprietary product information. The use of that confidential and sensitive information against or in competition with the business can cause extensive loss and damage to the company. This Restraint of Trade undertaking can be used to prevent the employee or business associate from competing with the business.
See also our Non-Disclosure Agreements
What does the Restraint of Trade say? The Restraint of Trade undertaking consists of: The period of the restraint; The activities that fall under the restraint; The geographical areas that the restraint is applicable to; Recourse in the event of default.
What does the Restraint of Trade look like? The template restraint contract can be printed onto two pages.
What do you need to do to use the template Restraint of Trade agreement?
- Complete the restraint agreement as indicated (eg. Fill in names, the restraint period and activities etc)
- Sign the completed agreement, and get the Restrainee to sign as well.
Also known as: Restraint Agreement; Restraint of Trade Undertaking; Restraint of Trade Agreement
Also viewed: Employee Secrecy Agreement
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