Assignment clause is a contractual clause that governs a party’s ability to transfer their rights, benefits, and obligations to a third party. It specifies whether assignments are allowed, the conditions for transfer, and the resulting consequences. This clause ensures clarity and protects the interests of all parties in the contractual relationship.
Drafting Tip
Specify whether rights and obligations under the contract can be assigned, and if so, under what conditions. Consider if consent is needed from the other party.
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