Letter of confidentiality

Dear Mr. Tan,

The bank wishes to meet me on my complaint and asked me to sign the following letter of confidentiality. What is your view?

CONFIDENTIALITY UNDERTAKING

We refer to the meeting scheduled to take place today (“the Meeting”).
We agree that the Meeting will be held on a Without Prejudice basis.
By our signature of a copy of this letter we agree as follows:

1. We undertake:
a. not to record the proceedings or discussions during the Meeting (however we may take our own written notes during the meeting);
b. except as otherwise required by law, to keep the Confidential Information confidential and not to disclose it to anyone or use it for any purpose without our express written consent;
c. to ensure that the Confidential Information is protected from unauthorised disclosure or use.

2. We agree to inform you (to the extent permitted by law) of the full circumstances of any disclosure or upon becoming aware that Confidential Information has been disclosed.

3. The obligations in this letter shall survive the termination of any discussions or negotiations between the Bank and us.

4. We acknowledge and agree that each of the Bank and/or Related Person (defined to mean Bank’s officers, directors, employees, professional advisers or any of the Bank’s affiliates) may be granted an injunction or specific performance for any threatened or actual breach of the provisions of this letter by you.

5. No failure or delay in exercising any right, power or privilege under this letter will operate as a waiver.

6. The undertakings given by us under this letter are given to the Bank and also for the benefit of each Related Person. We shall keep the Bank and each Related Person fully and effectively indemnified on demand against each and every claim, loss, liability and cost which the Bank and/or a Related Person may suffer or incur as a result of any breach of the provisions of this Letter.

7. If the Account is held in the name of more than one person, our obligations under this letter are joint and several.

8. In this letter "Confidential Information" means without limitation, all discussions, statements, materials, information, document and records in whatever form and any material derived or copied therefrom concerning the Customer, Account, services by the Bank, transactions with the Bank, and any other matters in relation thereto disclosed or furnished to us before, during or after the Meeting, as well as the fact discussions are taking place, that the Meeting is held, that further discussions may be contemplated, and that this confidentiality letter has been entered into.

REPLY
I suggest that you ask the bank to agree that the same conditions stated in the letter of confidentiality should apply to their side as well. It reflects fairness and natural justice. If not, you should not sign this undertaking.