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Assignment of Receivables Agreement
Assignment allows transferring a receivable to another person without the debtor's consent (only notification is required). The assignee acquires the receivable including accessories — interest and contractual penalties. Suitable for factoring, selling receivables to collection agencies or intra-group transfers.
These templates are for illustrative purposes only. They are not legal advice — consult a lawyer before signing.
Contract preview
What the agreement covers
- Identification of the assigned receivable — debtor, amount, due date
- Assignment price or gratuitous transfer
- Assignor's warranties — existence and enforceability of the receivable
- Obligation to notify the debtor of the assignment
- Handover of documents evidencing the receivable
- Assignor's liability for the debtor's creditworthiness
Frequently asked questions
No, the debtor's consent is not required. However, the debtor must be notified of the assignment — until then, paying the original creditor discharges the debt.