Novation agreements change the parties to a contract, transferring the benefits and obligations to another business or individual. Our agreements have been drawn for common situations where all parties to the contract (new and old) agree to the novation. Closely related to novation is assignment.
Transfer a service contract between customers using this easy to use and effective novation contract. The agreement is structured as a deed for greatest flexibility. Although this deed of novation can be used to transfer any service contract, we have used the example of a transfer of website hosting services between customers of an ISP in this agreement. Changes for other types of service agreement are very simple to make. The most common use for this agreement would be to change the parties to service contracts on the purchase of a business.
Transfer the right to receive a debt repayment between creditors. Common uses would be when factoring debt (buying the debts or loans owed to the seller) or when buying a business that has extended credit to customers. This is an easy to use, effective novation agreement, structured flexibly as a deed.
Transfer a debt obligation from one party to another with the creditor's permission, for example when restructuring debt or when selling a business and its obligations. This is an easy to use, effective novation agreement, structured flexibly as a deed.
Easy to use, effective novation agreement, structured flexibly as a deed, for use where the customer of an architectural or construction contract changes part-way through the project (e.g. where the land and part-completed buildings are sold).
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