Assignment of a Claim for Damages

Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}}

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Deed of Assignment of Claim for Damages

This DEED OF ASSIGNMENT is made and entered into on this {{day}} day of {{month}}, {{year}}

Parties

BETWEEN:

{{assignor_company_name}} (Registration Number: {{assignor_registration_number}}), a company duly incorporated and existing under the laws of South Africa, with its registered office at {{assignor_address}} (hereinafter referred to as "the Assignor").

AND

{{assignee_company_name}} (Registration Number: {{assignee_registration_number}}), a company duly incorporated and existing under the laws of South Africa, with its registered office at {{assignee_address}} (hereinafter referred to as "the Assignee").

Recitals

WHEREAS:

A. The Assignor has a claim for damages against {{third_party_name}} (hereinafter referred to as "the Debtor") arising from {{brief_description_of_event_giving_rise_to_claim}} (the "Claim"). The details of the Claim are more fully described in ANNEXURE A.

B. The Assignor wishes to assign, transfer, and make over all its rights, title, and interest in and to the Claim to the Assignee.

C. The Assignee wishes to accept such assignment, transfer, and making over of the Claim from the Assignor.

Assignment of Claim

1.1. In consideration of the sum of {{currency}} {{assignment_amount}} ({{assignment_amount_words}}) paid by the Assignee to the Assignor (the receipt and sufficiency of which is hereby acknowledged by the Assignor), the Assignor hereby irrevocably assigns, transfers, and makes over unto the Assignee, its successors and assigns, all the Assignor’s rights, title, and interest in and to the Claim, including all causes of action, remedies, and proceeds associated therewith.

1.2. The Assignee shall have the sole right to pursue, compromise, settle, or litigate the Claim in its own name, and the Assignor shall provide all reasonable assistance to the Assignee in connection therewith, at the Assignee's cost.

Warranties and Representations by the Assignor

2.1. The Assignor warrants and represents to the Assignee that:

a) The Assignor is the sole legal and beneficial owner of the Claim and has the full power and authority to assign the Claim.

b) The Claim is valid, subsisting, and enforceable and has not been waived, compromised, or released.

c) There are no counterclaims, set-offs, or defences known to the Assignor that would diminish the value of the Claim.

d) The Assignor has not previously assigned, encumbered, or otherwise disposed of the Claim or any part thereof.

e) All information provided by the Assignor to the Assignee regarding the Claim is true, accurate, and complete in all material respects.

Indemnity

3.1. The Assignor hereby indemnifies and holds harmless the Assignee against any and all losses, liabilities, damages, costs, and expenses (including legal fees on an attorney and client scale) that the Assignee may suffer or incur arising out of any breach of the warranties and representations made by the Assignor in this Deed.

Governing Law and Jurisdiction

4.1. This Deed shall be governed by and construed in accordance with the laws of the Republic of South Africa.

4.2. The Parties hereby consent to the non-exclusive jurisdiction of the High Court of South Africa, {{province}} Division, in respect of any dispute arising out of or in connection with this Deed.

General Provisions

5.1. This Deed constitutes the entire agreement between the Parties with regard to the subject matter hereof and supersedes all prior agreements, understandings, and representations, whether oral or written.

5.2. No variation, amendment, or consensual cancellation of this Deed shall be of any force or effect unless reduced to writing and signed by all the Parties.

5.3. No indulgence, leniency, or extension of time granted by either Party to the other shall constitute a waiver of any of that Party’s rights under this Deed.

Signatures

THUS DONE AND SIGNED at {{assignor_city}} on this {{assignor_day}} day of {{assignor_month}}, {{assignor_year}}.

_________________________

For: {{assignor_company_name}}

Name: {{assignor_signatory_name}}

Capacity: {{assignor_signatory_capacity}}

THUS DONE AND SIGNED at {{assignee_city}} on this {{assignee_day}} day of {{assignee_month}}, {{assignee_year}}.

_________________________

For: {{assignee_company_name}}

Name: {{assignee_signatory_name}}

Capacity: {{assignee_signatory_capacity}}