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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."
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
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
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
Financial Services
Banking
Insurance
Debt Collection
Legal Services
Commercial Real Estate
Construction
Manufacturing
Professional Services
Healthcare
Retail
Telecommunications
Legal
Finance
Risk Management
Credit Control
Treasury
Compliance
Commercial Operations
Debt Recovery
Corporate Affairs
Business Development
Dispute Resolution
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
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