Financial Crime World

The Right to Disclose Confidential Information

In a recent development, STAATSOLIE MAATSCHAPPIJ SURINAME N.V. has clarified its stance on disclosing confidential information to receiving parties.

Representations and Warranties

According to the agreement, the disclosing party makes no representations or warranties regarding:

  • The quality of the confidential information
  • The accuracy of the confidential information
  • The completeness of the confidential information

Risk of Error

The receiving party is aware that there is an inherent risk of error in acquiring, processing, and interpreting geological and geophysical data.

Liability

The disclosing party and its affiliated companies shall have no liability whatsoever for any damages arising from:

  • The use of the confidential information by the receiving party
  • Reliance on the confidential information by the receiving party

Governing Law and Dispute Resolution

Governing Law

The agreement is governed by the substantive laws of Suriname, excluding any choice of law rules that would refer the matter to the laws of another jurisdiction.

Dispute Resolution

Any disputes arising out of this agreement shall be settled through arbitration in accordance with the Arbitration Rules of the International Chamber of Commerce (ICC).

Non-Exclusive Disclosure

The disclosure of confidential information is non-exclusive, and the disclosing party may disclose its confidential information to other parties without limitation.

Notices and Assignments

Notices

All notices authorized or required under this agreement shall be in written English and delivered:

  • In person
  • By courier
  • By electronic means that provides written confirmation of complete transmission

Assignments

The receiving party may assign this agreement to an affiliated company, but any assignment to a non-affiliated party requires the prior written approval of the disclosing party.

Conclusion

In conclusion, STAATSOLIE MAATSCHAPPIJ SURINAME N.V. has clarified its stance on disclosing confidential information and established guidelines for resolving disputes. The agreement highlights the importance of transparency and accountability in business dealings, particularly when it comes to sensitive information.