Contract Assignment

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Used when assigning a contract to another party. This form contains the relevant terms about the assignment including assumption of obligations, indemnification and any additional terms and conditions which may apply.

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An assignment of contract is an agreement where a person who originally was a party to a contract (the "Assignorƒ) assigns his rights and responsibilities under that contract to another person (the "Assigneeƒ). The Assignor may choose to use an assignment for a number of reasons including change of business circumstances, financial concerns or other changes in circumstance.

This packet contains:
(1) Instructions and Checklist;
(2) Information about the Assignment of Contract; and
(3) The Assignment of Contract (the "Assignmentƒ).

State Law Compliance: Designed for use in all states.

Among others, this form includes the following provisions:
  • Assignment
  • Assumption of Obligations
  • Indemnification
  • Assignor's Representations
  • Binding Effect
  • Governing Law
  • Notice
  • Waiver
  • Additional Terms & Conditions
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Assignment of Contract

 

 
 
This Assignment of Contract (the “Assignment”) is made and entered on _____________________________________________, ___________, by and between _________________________________________ (“Assignor”) and _______________________________________ (“Assignee”) (collectively referred to as the “Parties”).  Assignor is a party in the ______________________agreement dated _________________ between the Assignor and ___________________________ (“Other Party”) for a term ending on ______________, 20___  (the “Master Contract”).  
 
The Parties agree as follows:
1.  ASSIGNMENT: Assignor hereby assigns to Assignee all of his/her interests, rights and title held by Assignor in and to the Contract.  
2. ASSUMPTION OF OBLIGATIONS:  Assignee acknowledges the receipt of a copy of the Master Contract.  Assignee hereby assumes all of Assignors interests, rights, duties and obligations remaining in the Master Contract.  Assignee agrees to comply with all the terms, make all payments, and perform all conditions and covenants in the Master Contract as if Assignee were an original party therein.  
 
3.  INDEMNIFICATION:  Assignee will indemnify, protect and hold Assignor harmless from and against any and all loss, cost, or damage in any way related to Assignees breach or default of the obligations or covenants in the Master Contract or this Assignment.  
4.  ASSIGNORS REPRESENTATIONS:  Assignor warrants that the Master Contract is in full force and effect and fully assignable or may be assigned with consent of Other Party (such consent to be obtained by Assignor before executing this Assignment).  Assignor further warrants that the contract rights transferred in this Assignment are free of lien, encumbrance or adverse claim.
 
5. BINDING EFFECT: The covenants and conditions contained in the Assignment shall apply to and bind the Parties and their heirs, legal representatives, successors and permitted assigns.
 
6. GOVERNING LAW: This Assignment shall be governed by and construed in accordance with the laws of the State of ______________________________________.
 
7. NOTICE: Any notice required or otherwise given pursuant to this Assignment shall be in writing and mailed certified return receipt requested, postage prepaid, or delivered by overnight delivery service to:
 
 
 
Assignor:                  Assignee:
 
________________________________      ______________________________
________________________________      ______________________________
________________________________      ______________________________
 
 
Either party may change such addresses from time to time by providing notice as set forth above.
 
8. WAIVER: The failure of either party to enforce any provisions of this Assignment shall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Assignment.
 
9. ADDITIONAL TERMS & CONDITIONS (Specify “none” if there are no additional provisions)
________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
 
 
 
[Remainder of page intentionally left blank]IN WITNESS WHEREOF, the Parties have caused this Assignment to be executed the day and year first above written.
 
 
 
 
ASSIGNOR:
 
___________________________________________________
 
___________________________________
(Name)
___________________________________
(Position, if applicable)
 
 
 
 
 
ASSIGNEE:
 
____________________________________________________
 
___________________________________
(Name)
___________________________________
(Position, if applicable)
 
 
 
 
 
OTHER PARTY CONSENT
 
If Other Partys consent is not required, Assignor shall initial here [____].
 
The undersigned, Other Party in the Master Contract, hereby consents to the foregoing Assignment.
 
OTHER PARTY:
 
____________________________________________________
___________________________________
(Name)
 
Date: _____________________________
Number of Pages5
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#20859
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Assignment of Contract

 

 
 
This Assignment of Contract (the “Assignment”) is made and entered on _____________________________________________, ___________, by and between _________________________________________ (“Assignor”) and _______________________________________ (“Assignee”) (collectively referred to as the “Parties”).  Assignor is a party in the ______________________agreement dated _________________ between the Assignor and ___________________________ (“Other Party”) for a term ending on ______________, 20___  (the “Master Contract”).  
 
The Parties agree as follows:
1.  ASSIGNMENT: Assignor hereby assigns to Assignee all of his/her interests, rights and title held by Assignor in and to the Contract.  
2. ASSUMPTION OF OBLIGATIONS:  Assignee acknowledges the receipt of a copy of the Master Contract.  Assignee hereby assumes all of Assignors interests, rights, duties and obligations remaining in the Master Contract.  Assignee agrees to comply with all the terms, make all payments, and perform all conditions and covenants in the Master Contract as if Assignee were an original party therein.  
 
3.  INDEMNIFICATION:  Assignee will indemnify, protect and hold Assignor harmless from and against any and all loss, cost, or damage in any way related to Assignees breach or default of the obligations or covenants in the Master Contract or this Assignment.  
4.  ASSIGNORS REPRESENTATIONS:  Assignor warrants that the Master Contract is in full force and effect and fully assignable or may be assigned with consent of Other Party (such consent to be obtained by Assignor before executing this Assignment).  Assignor further warrants that the contract rights transferred in this Assignment are free of lien, encumbrance or adverse claim.
 
5. BINDING EFFECT: The covenants and conditions contained in the Assignment shall apply to and bind the Parties and their heirs, legal representatives, successors and permitted assigns.
 
6. GOVERNING LAW: This Assignment shall be governed by and construed in accordance with the laws of the State of ______________________________________.
 
7. NOTICE: Any notice required or otherwise given pursuant to this Assignment shall be in writing and mailed certified return receipt requested, postage prepaid, or delivered by overnight delivery service to:
 
 
 
Assignor:                  Assignee:
 
________________________________      ______________________________
________________________________      ______________________________
________________________________      ______________________________
 
 
Either party may change such addresses from time to time by providing notice as set forth above.
 
8. WAIVER: The failure of either party to enforce any provisions of this Assignment shall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Assignment.
 
9. ADDITIONAL TERMS & CONDITIONS (Specify “none” if there are no additional provisions)
________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
 
 
 
[Remainder of page intentionally left blank]IN WITNESS WHEREOF, the Parties have caused this Assignment to be executed the day and year first above written.
 
 
 
 
ASSIGNOR:
 
___________________________________________________
 
___________________________________
(Name)
___________________________________
(Position, if applicable)
 
 
 
 
 
ASSIGNEE:
 
____________________________________________________
 
___________________________________
(Name)
___________________________________
(Position, if applicable)
 
 
 
 
 
OTHER PARTY CONSENT
 
If Other Partys consent is not required, Assignor shall initial here [____].
 
The undersigned, Other Party in the Master Contract, hereby consents to the foregoing Assignment.
 
OTHER PARTY:
 
____________________________________________________
___________________________________
(Name)
 
Date: _____________________________

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