The Assignment And Novation Agreement is essential when a party wishes to transfer their contractual position to another entity. This document is particularly relevant in business transfers, corporate restructuring, or when companies undergo mergers and acquisitions under English and Welsh law. It provides a formal mechanism to ensure all parties consent to the transfer, clearly defines the rights and obligations being transferred, and establishes the effective date of the transfer. The agreement must comply with UK statutory requirements and common law principles, including proper notice provisions and formal execution requirements.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identifies all parties to the agreement including the assignor, assignee, and other contracting party
2. Background: Explains the context of the original agreement and reason for assignment/novation
3. Definitions: Defines key terms used throughout the agreement including 'Original Agreement', 'Effective Date', 'Assigned Rights'
4. Assignment/Novation: Core provisions detailing the transfer of rights and obligations from assignor to assignee
5. Effective Date: Specifies when the assignment/novation takes effect and any conditions precedent
6. Consent: Contains express consent of all parties to the assignment/novation and acknowledgment of terms
7. Governing Law and Jurisdiction: Specifies that the agreement is governed by English and Welsh law and establishes jurisdiction
1. Release of Original Party: Used in novations to explicitly release the original party from their obligations under the Original Agreement
2. Outstanding Payments: Addresses treatment of any payments or obligations that are due under the Original Agreement
3. Warranties and Representations: Additional warranties regarding the assigned rights/obligations and authority to enter into the agreement
4. Data Protection: Provisions dealing with transfer of personal data if relevant under UK GDPR and Data Protection Act 2018
1. Schedule 1 - Original Agreement: Copy of the agreement being assigned/novated
2. Schedule 2 - Rights and Obligations: Detailed list of specific rights and obligations being transferred under the agreement
3. Schedule 3 - Consent Documents: Copies of any third-party consents required for the assignment/novation
Find the exact document you need
Partial Novation Agreement
An England & Wales legal document transferring select contract rights and obligations to a new party.
Download
Novation Of Promissory Note
An England & Wales document transferring promissory note rights and obligations to a new party.
Download
Novation Of Lease Agreement
An England & Wales legal document transferring lease obligations to a new tenant, releasing the original tenant.
Download
Novation Employment Contract
An England & Wales legal document transferring employment rights and obligations between employers with consent.
Download
Novation And Amendment Agreement
An England & Wales agreement transferring and amending contractual obligations during corporate restructuring or business acquisitions.
Download
Assignment And Novation Agreement
A legal document under English and Welsh law that enables the transfer of contractual rights and obligations between parties, either through assignment or novation.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)