The confidentiality obligation is usual in most contracts. However, there are relevant conditions to be considered:
The confidentiality obligation is usual in most contracts. However, there are relevant conditions to be considered:
- Although the undue disclosure of information gives rise to compensation for damages, it is necessary to establish a fine for non-compliance. Otherwise, the calculation of the amount due, in a lawsuit, will be extremely complex.
- Regardless of the term agreed upon in the contract, it is important to foresee that the receiving party has the obligation to maintain confidentiality as long as the information does not fall into the public domain, in order to prevent its misuse.
- If it is necessary to share the personal data of an individual, the receiving party must ensure that the consent of the data subject has been obtained, in accordance with the General Data Protection Law. It is also necessary that both parties establish the procedures to be adopted in case of undue access by third parties.
- If the information is shared by any institution authorized by the Central Bank, including to business partners, it is mandatory that the Bank Secrecy Act is observed.