Link Exchange with disclaimer. Can it negatively affect ranks?

[McMohan]

Two sites involved in link exchange. Both relevant and authority in the niche. Links are relevant and useful for audience. While, one of the exchanging sites puts a disclaimer below the link to the effect that it is a reciprocal arrangement for the benefit of the reader and that it is not affiliated to the linked to site.
Can it raise any red flags?

[aristotle]

You said that both sites have "authority". Does this mean that both of them already have a lot of good backlinks from a variety of other sites? If so, then one link exchange isn't likely to cause any problems.

If you want to be absolutely safe, you can put nofollow tags on the links.

[martinibuster]

It's weird, as if they're trying to send a message to the Googleplex that this isn't for the rankings it's for the user experience. In which case just put a nofollow on it.

[McMohan]

@aristotle Thanks. Yes, both the sites have links from hundreds of domains, most of which are natural, and are among the highest ranking sites in the niche.