Document background
The Assignment Of Liabilities Agreement is commonly used in corporate restructuring, mergers and acquisitions, or debt restructuring scenarios under Singapore law. This document becomes necessary when a party needs to transfer their obligations to another entity, whether for business reorganization, risk management, or strategic purposes. The agreement must carefully detail the specific liabilities being transferred, any conditions attached to the transfer, and ensure compliance with Singapore's legal requirements for valid assignment. It typically includes provisions for third-party consents, representations about the nature of the liabilities, and mechanisms for implementing the transfer.
