Document background
An Assignment Of Management Agreement is essential when there is a need to transfer existing management responsibilities from one service provider to another in Malaysia. This document is commonly used in situations such as corporate restructuring, business acquisitions, or when changing service providers. The agreement must comply with Malaysian contract law, particularly the Contracts Act 1950 and relevant commercial regulations. It typically includes detailed provisions for the transfer of rights and obligations, consent requirements, warranties, and transitional arrangements. The document is crucial for ensuring business continuity while protecting the interests of all parties involved - the original manager (Assignor), the new manager (Assignee), and the client (Principal). It should address key aspects such as existing service levels, fee structures, and any specific requirements of the original management agreement being assigned.
