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Deed of Assignment and Novation

KSh 5,000

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An assignment agreement transfers one party’s rights under a contract to another party. The party transferring their rights is the assignor; the party receiving them is the assignee. Under an assignment, only the benefits of the contract are transferred whilst the obligations remain with the assignor.

Novation is a mechanism where one party transfers all its obligations and rights under a contract to a third party, with the consent of the original counterparty.

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Table of Content:

  1. Definitions and Interpretations
  2. Assignment and Novation
  3. Release of Obligations and Liabilities
  4. Undertakings by Assignor
  5. Indemnity
  6. Consent of the Consultants
  7. Variation
  8. Miscellaneous

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