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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."
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
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
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
Banking and Financial Services
Insurance
Manufacturing
Professional Services
Real Estate
Construction
Healthcare
Retail
Energy
Telecommunications
Asset Management
Debt Collection
Legal
Finance
Treasury
Credit Control
Accounts Receivable
Risk Management
Compliance
Commercial
Business Development
Contract Administration
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
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