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Assignment Of Claim Agreement Template for Germany

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Key Requirements PROMPT example:

Assignment Of Claim Agreement

"I need an Assignment of Claim Agreement under German law to transfer a single corporate receivable worth €500,000 from our manufacturing company to a factoring company, with completion scheduled for March 15, 2025."

Document background
The Assignment Of Claim Agreement is a crucial document in German business and financial transactions, used when one party wishes to transfer its rights to receive payment or performance from a debtor to another party. Common scenarios include debt sales, factoring arrangements, corporate restructuring, or collateral arrangements. The agreement must comply with German Civil Code requirements, particularly regarding form, content, and notification obligations. This document is essential for businesses managing their receivables, financial institutions trading debt instruments, or companies restructuring their obligations. The agreement typically includes detailed information about the assigned claim, any associated security interests, and mechanisms for perfecting the assignment under German law.
Suggested Sections

1. Parties: Identification of the Assignor and Assignee with full legal names and addresses

2. Background: Context of the assignment, including the origin of the claim and the reason for the assignment

3. Definitions: Definitions of key terms used in the agreement, including 'Assigned Claim', 'Effective Date', and other relevant terms

4. Assignment: Core provision transferring the claim from Assignor to Assignee, including specific details of the claim being assigned

5. Consideration: Details of any payment or other consideration for the assignment

6. Assignor's Obligations: Obligations to provide documents and information related to the assigned claim (per §402 BGB)

7. Notification to Debtor: Provisions regarding notification of the assignment to the debtor (per §409 BGB)

8. Further Assurance: Obligation to execute additional documents and take further steps necessary to perfect the assignment

9. Governing Law: Specification of German law as the governing law

10. Severability: Standard clause on the severability of provisions

Optional Sections

1. Warranties and Representations: Warranties regarding the existence, ownership and transferability of the claim - include when the claim's validity might be uncertain

2. Security Interests: Provisions regarding the transfer of associated security interests - include when the claim is secured by collateral

3. Conditions Precedent: Conditions that must be met before the assignment becomes effective - include for complex transactions

4. Costs and Expenses: Allocation of costs related to the assignment - include when significant costs are expected

5. Confidentiality: Provisions regarding confidentiality of the assignment - include for sensitive commercial transactions

6. Dispute Resolution: Specific dispute resolution mechanisms - include when parties prefer arbitration or specific courts

7. Multiple Claims: Special provisions for handling multiple claims - include when assigning more than one claim

Suggested Schedules

1. Schedule 1 - Assigned Claims: Detailed description of the claim(s) being assigned, including amount, due date, and debtor details

2. Schedule 2 - Related Documents: List and copies of documents evidencing the claim (e.g., contracts, invoices, correspondence)

3. Schedule 3 - Security Documents: Details of any security interests or guarantees associated with the claim

4. Appendix A - Form of Notice to Debtor: Template notification letter to be sent to the debtor informing them of the assignment

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






















Clauses























Relevant Industries

Banking and Financial Services

Insurance

Manufacturing

Professional Services

Real Estate

Construction

Healthcare

Retail

Energy

Telecommunications

Asset Management

Debt Collection

Relevant Teams

Legal

Finance

Treasury

Credit Control

Accounts Receivable

Risk Management

Compliance

Commercial

Business Development

Contract Administration

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Corporate Lawyer

Finance Manager

Credit Manager

Accounts Receivable Manager

Treasury Manager

Risk Manager

Debt Collection Manager

Commercial Director

Business Development Manager

Contract Manager

Compliance Officer

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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