Document background
The Assignment Of Payment Agreement is a crucial document used in Swiss commercial and financial transactions when one party wishes to transfer its right to receive payments to another party. This document is commonly used in various scenarios including factoring arrangements, security packages for financing transactions, corporate restructurings, and debt assignments. The agreement must comply with Swiss law requirements, particularly the Swiss Code of Obligations, which mandates specific formalities for valid assignments. It typically includes detailed provisions about the assigned rights, warranties about their existence and transferability, and mechanisms for perfecting the assignment. This type of agreement is particularly important in Switzerland's sophisticated financial services sector and is often used in both domestic and international transactions where Swiss law governs the assignment relationship.
