¶¶Òõ¶ÌÊÓÆµ

Debt Transfer Agreement Template for Nigeria

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Debt Transfer Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Debt Transfer Agreement

"I need a Debt Transfer Agreement under Nigerian law for transferring a corporate loan of 50 million Naira from First Bank of Nigeria to Access Bank, with completion scheduled for March 15, 2025, including provisions for existing security interests and guarantees."

Document background
A Debt Transfer Agreement is essential in Nigerian commercial and financial transactions where one party (the Original Creditor) wishes to transfer their rights to receive debt payments to another party (the New Creditor). This document is commonly used in debt restructuring, portfolio sales, or business reorganizations. The agreement must comply with Nigerian contract law, the Assignment of Contractual Rights Act, and other relevant financial regulations. It typically includes detailed information about the debt being transferred, the consideration for the transfer, representations about the debt's status, and the mechanics of the transfer process. The document becomes particularly important in scenarios involving corporate debt restructuring, loan portfolio sales by banks, or when businesses need to reorganize their debt obligations. It provides legal certainty for all parties involved and ensures the enforceability of the debt transfer under Nigerian law.
Suggested Sections

1. Parties: Identifies and defines all parties to the agreement: the Original Creditor (Transferor), the New Creditor (Transferee), and the Debtor

2. Background: Recitals explaining the existing debt arrangement and the intention to transfer the debt

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules

4. Transfer of Debt: Core provision detailing the transfer of the debt from Original Creditor to New Creditor

5. Consideration: Specifies the amount or consideration being paid for the debt transfer

6. Completion: Details the timing and mechanics of the transfer completion

7. Representations and Warranties: Statements of fact and assurances from the Original Creditor regarding the debt and related rights

8. Debtor's Acknowledgment: Confirmation of the debt transfer by the Debtor and agreement to pay the New Creditor

9. Rights and Obligations: Outlines the rights and obligations of all parties post-transfer

10. Further Assurance: Commitment to execute additional documents or take actions necessary to effect the transfer

11. Notices: Specifies how formal communications between parties should be made

12. Governing Law and Jurisdiction: Confirms Nigerian law as governing law and specifies jurisdiction for disputes

13. Execution: Signature blocks and execution formalities

Optional Sections

1. Security Transfer: Include when any security interests securing the debt are being transferred along with the debt

2. Conditions Precedent: Include when the transfer is subject to certain conditions being met before completion

3. Confidentiality: Include when parties wish to keep the terms of the transfer confidential

4. Tax Provisions: Include when there are specific tax implications that need to be addressed

5. Assignment: Include when parties want to restrict or permit further assignment of rights under the agreement

6. Severability: Include when parties want to ensure partial invalidity doesn't affect entire agreement

7. Force Majeure: Include when parties want to address circumstances beyond their control affecting performance

Suggested Schedules

1. Schedule 1 - Details of the Debt: Detailed description of the debt being transferred, including amount, interest rate, and payment terms

2. Schedule 2 - Original Debt Documentation: List and copies of all relevant original debt documentation

3. Schedule 3 - Security Details: Details of any security interests associated with the debt (if applicable)

4. Schedule 4 - Completion Requirements: List of documents and actions required for completion

5. Schedule 5 - Form of Notice to Debtor: Template notice informing the Debtor of the transfer

6. Schedule 6 - Payment Details: Bank account and payment information for the New Creditor

Authors

Alex Denne

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

Relevant legal definitions












































Clauses






























Relevant Industries

Banking & Financial Services

Investment Management

Real Estate

Manufacturing

Construction

Retail

Healthcare

Energy

Telecommunications

Agriculture

Mining

Professional Services

Relevant Teams

Legal

Finance

Treasury

Credit Risk

Compliance

Corporate Affairs

Debt Recovery

Portfolio Management

Investment

Operations

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Corporate Lawyer

Finance Manager

Credit Manager

Debt Recovery Officer

Treasury Manager

Risk Manager

Compliance Officer

Portfolio Manager

Investment Analyst

Business Development Manager

Contract Administrator

Company Secretary

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Equipment Assignment Agreement

A Nigerian law-governed agreement for transferring ownership rights and title of equipment from one party to another.

find out more

Lease Assignment Letter

A formal letter under Nigerian law requesting landlord consent for transferring lease rights from an existing tenant to a new tenant.

find out more

Transfer Intellectual Property Rights Agreement

A Nigerian law-governed agreement facilitating the complete transfer of intellectual property rights between parties, ensuring legal compliance and protecting both parties' interests.

find out more

Invention Assignment Agreement

A Nigerian law-governed agreement transferring invention rights from inventor to assignee, typically used in employment or research contexts.

find out more

Domain Name Assignment Agreement

A Nigerian law-governed agreement for transferring domain name ownership rights and interests, compliant with NIRA regulations and local legal requirements.

find out more

Assignment Of Debt Agreement

A Nigerian law-governed agreement that transfers debt rights from one party to another, detailing terms, considerations, and obligations of the assignment.

find out more

Assignment Of Franchise Agreement

A Nigerian law-governed agreement transferring franchise rights and obligations from an existing franchisee to a new franchisee, with franchisor approval.

find out more

Debt Transfer Agreement

A Nigerian law-governed agreement facilitating the transfer of debt obligations from one creditor to another, including associated rights and obligations.

find out more

Transfer Of Copyright Agreement

A Nigerian law-governed agreement that transfers complete copyright ownership from one party to another, ensuring legal compliance with local intellectual property regulations.

find out more

Lease Assignment Agreement

A Nigerian law-governed agreement that transfers lease rights from an existing tenant to a new tenant, ensuring compliance with local property laws and registration requirements.

find out more

Intellectual Property Assignment Agreement

A Nigerian law-governed agreement for transferring intellectual property rights from one party to another, ensuring legal compliance and protection for both parties.

find out more

Assignment Contract

A Nigerian law-governed contract that transfers rights, interests, or property from an Assignor to an Assignee, establishing terms and conditions for the transfer.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’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; ³Ò±ð²Ô¾±±ð’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

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.