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Assignment
_________________________ of _________________________, _________________________, Australian Capital Territory, __________ (the "Assignor") assigns the entirety of the Assignor's contractual rights and obligations under the contract dated 11 December 2023 for _______________________________________________ with __________ of _________________________, _________________________, Australian Capital Territory, __________, which is attached hereto as Schedule "A", to _________________________ of _________________________, _________________________, Australian Capital Territory, __________ (the "Assignee").
In consideration thereof, the Assignor acknowledges receipt of $__________ paid by cash by the Assignee.
The Assignor warrants and covenants the following with regard to the contractual rights which the Assignor has assigned:
The Assignor directs __________ to complete the contractual obligations, which would otherwise be owed to the Assignor but which have been transferred as indicated herein, with the Assignee.
It is agreed that this Assignment will enure to the benefit of and be binding upon the parties to this Assignment, their heirs, executors, administrators, successors and assigns, respectively.
This Agreement will be construed in accordance with and governed by the laws of Commonwealth of Australia.
Signatures to the AgreementThis agreement is made on the ________ day of ________________, ________.
Assignor's signature:
Witness (to Assignor's signature):
______________________________________________________
_____________________________
Assignee's signature:
Witness (to Assignee's signature):
An Assignment is sometimes referred to as a/an:
An Assignment is used to transfer the rights and benefits of an entire contract or part of a contract from one party to another.
For example, an IT firm accepts a contract to provide computer repair and maintenance services to a large environmental corporation. At a later time, the IT firm finds that the workload is too much for them to handle, so they assign the contract to another company.
In other words, the assignor (the person or company who accepted the original contract) wants the assignee (the person or company that the assignor is getting to fulfil the contract) to undertake all of their contractual rights and obligations.
In order to assign your contract, you'll need to specify what you are assigning, such as:
You should also include the full information (including name and address) of the assignor(s) and assignee(s), as well as if the Assignment is for the entirety of the contract or just a portion of the rights and obligations.
Assigning a contract to someone else does not necessarily relieve the assignor of liability. The original contract does not have to include a specific clause to keep the assignor liable.
In other words, the IT firm may still be responsible for the obligations of the contract, so if the other company that the IT firm chooses to complete the work indicated in the contract does not deliver, then the original IT firm may still be liable to ensure the work gets completed or face legal consequences.
You can include a clause in the Assignment to absolve yourself of either complete or partial responsibility to the original contract, provided all involved parties indicate that they agree by signing the Assignment.
LawDepot's Assignment is available to use in the following Australian states and territories:
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