Onthoudingsverklaring
Declaration of Abstention
A non-compete declaration is a written statement in which a party formally undertakes to refrain from specified acts, such as engaging in competition or using confidential information.
An abstention declaration is a legal instrument by which a natural or legal person expressly declares its intention to refrain from conduct that would otherwise be lawful. The document imposes restrictions, whether unilaterally or by mutual agreement, typically to prevent conflicts of interest or unfair competition.
The declaration is particularly relevant upon termination of an employment or directorship agreement, in the context of corporate acquisitions, and in shareholder relations. In practice, it serves to mitigate the risk of disputes and to provide additional assurance of compliance with non-competition or confidentiality obligations.
“The former director signed a non-compete declaration in which he undertook not to engage in any competing activities in the Netherlands for a period of two years.”
Related terms
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