Deed Of Assignment Of Debt Template

Deed Of Assignment Of Debt Template for Singapore

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Key Requirements PROMPT example:

I need a Deed of Assignment of Debt Template to transfer a commercial loan portfolio worth $5 million from my investment firm to a debt collection agency, with completion scheduled for March 15, 2025, including specific warranties about the debt's enforceability.

What is a Deed Of Assignment Of Debt?

The Deed of Assignment of Debt Template is a crucial document used in Singapore when one party wishes to transfer their rights to receive payment of a debt to another party. This document is commonly used in debt restructuring, asset sales, or corporate reorganizations. It must comply with Singapore's legal requirements for assignments and include specific details about the debt being transferred, the consideration paid, and any conditions of the assignment. The deed ensures the assignee receives all necessary rights to collect the debt and provides legal protection for all parties involved. It should be properly executed as a deed to satisfy Singapore's legal requirements for the assignment of choses in action.

What sections should be included in a Deed Of Assignment Of Debt?

1. Parties: Details of the assignor and assignee

2. Background: Context of the debt and reason for assignment

3. Definitions: Key terms used in the deed

4. Assignment: Core terms of the debt assignment

5. Consideration: Details of payment or value exchange for the assignment

6. Warranties and Representations: Assignor's confirmations about the debt

7. Execution: Signature blocks and execution formalities

What sections are optional to include in a Deed Of Assignment Of Debt?

1. Further Assurance: Commitment to take additional steps if needed - used for complex assignments requiring additional documentation

2. Costs: Allocation of legal and registration costs - used when significant costs are involved

3. Notice Provisions: Requirements for notifying the debtor - used when specific notice procedures are required

4. Governing Law and Jurisdiction: Choice of law and courts - used when parties are in different jurisdictions

What schedules should be included in a Deed Of Assignment Of Debt?

1. Schedule 1 - Details of the Debt: Specific information about the debt being assigned

2. Schedule 2 - Original Debt Documentation: Copies or details of underlying debt agreements

3. Schedule 3 - Form of Notice to Debtor: Template notice to inform debtor of the assignment

4. Schedule 4 - Payment Details: Bank account and payment information for the assignment consideration

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services
Debt Collection
Investment
Real Estate
Commercial Trading

Relevant Teams

Finance
Legal
Treasury
Credit Control
Risk Management
Compliance

Relevant Roles

Chief Financial Officer
Finance Director
Credit Manager
Legal Counsel
Treasury Manager
Debt Recovery Manager

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