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Assignment Of Claim Agreement
"I need an Assignment of Claim Agreement under Irish law to transfer a €500,000 commercial debt claim from our manufacturing company to a debt collection agency, with completion scheduled for March 15, 2025."
1. Parties: Identifies and defines the Assignor, Assignee, and any other relevant parties to the agreement
2. Background: Sets out the context of the assignment, including details of the original claim and the parties' intention to transfer it
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules of interpretation
4. Assignment: Core clause that effectuates the transfer of the claim from Assignor to Assignee, including the scope of rights transferred
5. Consideration: Specifies the payment or other consideration for the assignment
6. Representations and Warranties: Assignor's warranties regarding ownership, validity, and enforceability of the claim
7. Notification and Perfection: Requirements for notifying the debtor and any other steps needed to perfect the assignment
8. Further Assurance: Obligation to execute additional documents or take further actions if needed to give effect to the assignment
9. Governing Law and Jurisdiction: Specifies Irish law as governing law and establishes jurisdiction for disputes
1. Security Interest: Required if the assignment is being made as security rather than an absolute assignment
2. Conditions Precedent: Include when the assignment is conditional upon certain events or actions
3. Anti-assignment Provisions: Required when addressing any existing restrictions on assignment in the underlying contract
4. Costs and Expenses: Include when there are specific arrangements for bearing costs of the assignment
5. Data Protection: Required when personal data is involved in the assigned claim
6. Partial Assignment: Include when only part of a claim is being assigned
7. Power of Attorney: Include when the assignee needs specific powers to act in the assignor's name
1. Schedule 1 - Details of the Claim: Detailed description of the claim being assigned, including relevant dates, amounts, and parties
2. Schedule 2 - Original Contract: Copy of the contract or document that gives rise to the assigned claim
3. Schedule 3 - Form of Notice: Template notice to be sent to the debtor informing them of the assignment
4. Schedule 4 - Related Documents: List and/or copies of any additional documents relevant to the claim
5. Schedule 5 - Calculation of Consideration: If applicable, detailed breakdown of how the consideration was calculated
Authors
Financial Services
Banking
Insurance
Debt Collection
Corporate Restructuring
Asset Management
Commercial Real Estate
Healthcare
Construction
Manufacturing
Legal
Finance
Treasury
Credit Control
Debt Collection
Risk Management
Compliance
Commercial Operations
Corporate Development
Legal Operations
Legal Counsel
Corporate Lawyer
Finance Manager
Credit Manager
Debt Collection Manager
Commercial Director
Risk Manager
Contract Administrator
Chief Financial Officer
Treasury Manager
Compliance Officer
Legal Operations Manager
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