Assignment Agreement of Agreement / Contract

Third Party Assignee

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Description:

A simple assignment of agreement / contract between the assignor and the assignee. A form of the notice to the counterparty is also attached.

The Assignor and a counterparty entered into an agreement. The Assignor has agreed to assign the Agreement to the Assignee for the consideration and upon the terms set out below.

In consideration of the amount (receipt of which the Assignor hereby acknowledges), the Assignor hereby assigns and transfers to the Assignee the benefit of all the Assignor's right, title, benefit and interest to, in and under the Agreement to hold the same unto the Assignee absolutely, free and clear of all mortgages, charges, pledges, liens, trusts, claims and other interests.

 

How to use this Document?


This Assignment Agreement should be carefully read by the Assignor, and the Assignee. Please note that only the rights (and not the obligations) in the original agreement can be assigned without the consent of the counterparty. For the transfer of obligations or liabilities under the original agreement, or if the original agreement includes a no assignment clause, then the consent of the counterparty of the original agreement should be obtained through a novation agreement.

The parties should sign and return a copy, and once signed, both parties should get a copy. To avoid future disputes, both parties may wish to have their signature witnessed.

A Notice of Assignment should be given to the counterparty of the original agreement in the form of the Schedule to the Assignment Agreement.

 

How to Tailor the Document for Your Need?

  1. Create Document: Click “Create Document” button and fill in the details of the parties. You can click the "Fill with Member's Information" button to complete the party's information with your personal or business information saved to your account.

  2. Please fill in any additional information by following the step-by-step guide on the left-hand side of the preview document and click the “Next” button.

  3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.

  4. Please get all the parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document.

Document Type:

Agreements / contracts

Category:

Business > Corporate > Corporate Restructuring, Assignment & Novation Agreement

 
Keywords:

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contract

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counterparty

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notice of assignment

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Author:

DocPro Legal

DocPro Legal is a team of legal professionals with a passion for making quality documents and legal contract templates widely available to the public through cutting edge technology. Our lawyers are qualified in numerous common law jurisdictions including the United Kingdom, Australia, New Zealand, India, Singapore and Hong Kong. We have experience in major law firms and international banks with expertise in business, commercial, finance, banking, litigation, family, succession and company laws.