Business Simulation Game


1. The Confidential information given by one of the Parties (further in this Chapter – “Disclosing party”) has to be used by the other Party (further in this Chapter – “Receiving party”) exclusively for the purposes of the execution of the Contract (further in this section – “Authorized purposes”) and can be disclosed to third persons only in concordance with the Contract.

2. For the purposes of the Contract the term “Confidential information” includes the conditions of the Contract and all the information given to the Receiving party and/or their affiliated persons by the Disclosing party and/or their affiliated persons in connection with the Contract in writing on paper, magnetic, electronic and other material carriers.

3. The Confidential information does not include data which cannot be commercial classified information, data which can be commercial classified information, but has become public, data which is to be disclosed according to the legislation, (d) information and data which has become known to the Party following the independent investigation, observations and developments without the access to the Confidential information, (e) data which has become known to the Receiving party in a legal way.

4. The Receiving party is obligated to take measures to keep the Confidential information secret and to provide the necessary protection for this information, including:

to provide the access to the Confidential information for the limited number of their employees and for the employees of their affiliated persons who directly use the Confidential information in order to discharge their duties;

not to copy the received documentation and other materials which contain the Confidential information in the amount which exceeds the usual necessity, and, according to the choice of the Disclosing party, destroy (in the presence of a representative of the Disclosing party) or give copies to the Disclosing party when there is no further necessity to use them;

not to disclose or divulge such information to any third person without a prior direct written consent of the Disclosing party, apart from the cases of forced disclosure due to a regulatory requirement of the authorized state structures in the amount and in cases directly provided for by the effective legislation.

5. In case of disclosure of the Confidential information according to the paragraphs 11.1 and 11.3 of the Contract the Receiving party undertakes to inform the above-listed persons about the confidential nature of the Confidential information, to properly provide the observance by them of the confidentiality arrangements in the case of such information according to the Contract.

6. Each Party is to take reasonable measures for the purpose of protection of the confidentiality of the Confidential information of the other party and is to act with circumspection to the same degree that can be applied to protection of their own confidential information of similar nature, which implies at least reasonable degree of circumspection.

7. The Confidential information provided according to the conditions of the Contract, including all records, summaries or extracts from the Confidential information, is to be given back or, accordingly, passed to the Disclosing party, or destroyed in the presence of their representative on the expiry of its use for the Authorized purposes or at the request of the Disclosing party without any delay.