Deed of Assignment & Novation Agreements

An existing agreement may need to accommodate a new party, a transfer of an interest or a change in how an arrangement will continue. Lim Wong & Partners assists with deeds of assignment and novation agreements. The appropriate document depends on the original agreement, the intended change and the position of everyone affected.

The discussion should make clear what is being transferred, which responsibilities are intended to continue and how earlier payments or commitments will be treated. Assignment and novation should not be selected by document name alone. The original terms, any financing arrangements and any required involvement of other parties need to be considered together.

A draft is easier to assess when the surrounding documents are available. Provide the original signed arrangement and any later variation, rather than only the page mentioning a transfer. Explain whether the change concerns property, a business arrangement or another contractual relationship.

• The original agreement, supplemental documents and relevant financing or security records.
• The proposed incoming and outgoing parties, intended effective date and agreed commercial terms.
• Payment records, correspondence about consent and a list of obligations or disputes that remain outstanding.

• ✓Existing DocumentsRelevant agreements, applications, notices and records concerning deed of assignment & novation agreements.
• ✓Supporting InformationCorrespondence, identification details and any documents referred to in your initial discussion.
• ✓Chronology and PrioritiesKey dates, steps already taken, outstanding concerns and the assistance you wish to discuss.