An Assignment of Contract is used when a person who originally was a party to a contract (“Assignor”) assigns his rights and responsibilities under the contract to another party (“Assignee”). The Assignor may assign a contract for various reasons including a change in circumstances or financial concerns. A written Assignment of Contract will prove valuable in the event of disagreements, misunderstandings or litigation.

Among others, this Assignment of Contract includes the following provisions:

• Parties to the Agreement: This provision contains the identity and names of the parties entering into the agreement;
• Assignment: This provision specifically sets out the specifics of the contract being assigned;
• Remaining Obligations and Indemnity: This provision sets out the terms of the original contract which will remain in full force and effect;
• Assignment of Contract Income: This provision is optional and sets out the party who will receive any proceeds and how they will be received.

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This lawyer-prepared packet contains:

1. General Information
2. Assignment of Contract

Law Compliance: This form complies with the state and territory laws of Australia