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Assignment Of Claim Agreement Template for New Zealand

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Key Requirements PROMPT example:

Assignment Of Claim Agreement

"I need an Assignment of Claim Agreement under New Zealand law to transfer a $50,000 unpaid invoice claim from my company ABC Ltd to XYZ Financial Services, with completion scheduled for March 15, 2025."

Document background
The Assignment Of Claim Agreement is a crucial legal instrument used in New Zealand business operations when one party wishes to transfer their rights in a claim to another party. This document is commonly utilized in situations involving debt assignments, litigation funding, corporate restructuring, or settlement of commercial disputes. The agreement must comply with New Zealand's Contract and Commercial Law Act 2017 and related legislation, ensuring proper transfer of rights while protecting all parties' interests. It typically includes detailed information about the claim being assigned, the consideration being paid, and any conditions that must be satisfied. The document is essential for businesses looking to monetize claims, transfer rights as part of commercial transactions, or restructure their debt obligations within the New Zealand legal framework.
Suggested Sections

1. Parties: Identifies and defines the Assignor (current claim holder), Assignee (party receiving the claim), and any other relevant parties

2. Background: Explains the context of the assignment, including the existence of the claim and the parties' intention to transfer it

3. Definitions and Interpretation: Defines key terms used in the agreement and sets out rules for interpretation

4. Assignment: Core clause that legally transfers the claim from Assignor to Assignee, including the effective date

5. Consideration: Specifies the payment or other consideration for the assignment

6. Assignor's Warranties: Warranties regarding ownership of the claim, right to assign, and absence of encumbrances

7. Further Assurance: Obligation to execute further documents and take additional steps if needed to perfect the assignment

8. Costs: Allocation of costs related to the preparation and execution of the assignment

9. Notices: Specifies how and where formal notices under the agreement must be given

10. General Provisions: Standard boilerplate clauses including governing law, entire agreement, and severability

Optional Sections

1. Conditions Precedent: Used when the assignment is subject to certain conditions being met before becoming effective

2. Security Arrangements: Include when there are specific security interests or guarantees associated with the assigned claim

3. Confidentiality: Required when the claim involves sensitive information that needs protection

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

5. Dispute Resolution: Detailed dispute resolution procedures beyond standard court jurisdiction

6. Third Party Consents: Include when the assignment requires consent from parties not directly involved in the assignment

7. Partial Assignment: Used when only part of a claim is being assigned rather than the whole

8. Power of Attorney: Include when the Assignee needs specific powers to deal with the claim

Suggested Schedules

1. Schedule 1 - Details of the Claim: Detailed description of the claim being assigned, including its nature, value, and any relevant documentation

2. Schedule 2 - Related Documents: List and copies of documents relating to the original claim (e.g., contracts, correspondence, court documents)

3. Schedule 3 - Payment Details: Details of consideration and payment arrangements

4. Schedule 4 - Form of Notice: Template for notifying relevant parties of the assignment

5. Appendix A - Supporting Evidence: Copies of relevant evidence supporting the claim

6. Appendix B - Consent Forms: Forms of consent from relevant third parties where required

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





























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Relevant Industries

Financial Services

Banking

Insurance

Debt Collection

Legal Services

Commercial Real Estate

Construction

Manufacturing

Professional Services

Healthcare

Retail

Telecommunications

Relevant Teams

Legal

Finance

Risk Management

Credit Control

Treasury

Compliance

Commercial Operations

Debt Recovery

Corporate Affairs

Business Development

Dispute Resolution

Relevant Roles

Legal Counsel

Corporate Lawyer

Finance Manager

Chief Financial Officer

Risk Manager

Debt Collection Manager

Commercial Director

Contract Administrator

Claims Manager

Treasury Manager

Credit Controller

Litigation Manager

Company Secretary

Business Development Manager

Compliance Officer

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

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