Assignment Of Claim Agreement Template for England and Wales

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Assignment Of Claim Agreement

"I need an Assignment of Claim Agreement to transfer our company's Ã‚Â£500,000 breach of contract claim against TechCorp Ltd to a debt collection agency, with completion scheduled for March 15, 2025, including specific warranties about the validity of the claim."

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What is a Assignment Of Claim Agreement?

The Assignment Of Claim Agreement is essential when a party wishes to transfer their rights in a claim to another entity, commonly used in debt collection, corporate restructuring, or litigation funding scenarios. This document, governed by English and Welsh law, must carefully detail the claim being assigned, the consideration paid, and any warranties given by the assignor. It's particularly important in ensuring compliance with statutory requirements and maintaining the enforceability of the claim, while protecting both parties' interests through clear documentation of the transfer.

What sections should be included in a Assignment Of Claim Agreement?

1. Parties: Identification and details of the assignor and assignee

2. Background: Context of the original claim and reason for assignment

3. Definitions: Key terms used throughout the agreement

4. Assignment: Core provisions detailing what is being assigned

5. Consideration: Details of payment or other consideration for the assignment

6. Warranties: Assignor's warranties regarding the claim

7. Further Assurance: Obligation to execute further documents if needed

8. Governing Law and Jurisdiction: Specification of applicable law and courts

What sections are optional to include in a Assignment Of Claim Agreement?

1. Conditions Precedent: Used when assignment is conditional on certain events being met before completion

2. Confidentiality: Provisions regarding confidential information when sensitive information is involved

3. Tax Provisions: Handling of tax implications when significant tax considerations exist

4. Power of Attorney: Granting power to act on behalf of assignor when assignee needs authority to pursue claim

What schedules should be included in a Assignment Of Claim Agreement?

1. Details of Claim: Detailed description of the assigned claim

2. Original Contract: Copy of the contract giving rise to the claim

3. Notice of Assignment: Form of notice to be given to the debtor

4. Supporting Documents: Relevant correspondence and evidence relating to the claim

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

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What is a Assignment Of Claim Agreement?

What sections should be included in a Assignment Of Claim Agreement?

What sections are optional to include in a Assignment Of Claim Agreement?

What schedules should be included in a Assignment Of Claim Agreement?

Authors

Alex Denne

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