Assignment of Money Due

COMPANY LETTERHEAD

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

DATE

{{date}}

ASSIGNMENT OF MONEY DUE

THIS ASSIGNMENT is made and entered into on this {{day}} day of {{month}}, {{year}}.

BETWEEN:

{{assignor_company_name}}, a company duly incorporated and registered under the laws of {{country}}, with registration number {{assignor_registration_number}}, and having its registered office at {{assignor_address}} (hereinafter referred to as “the Assignor”)

AND

{{assignee_company_name}}, a company duly incorporated and registered under the laws of {{country}}, with registration number {{assignee_registration_number}}, and having its registered office at {{assignee_address}} (hereinafter referred to as “the Assignee”)

RECITALS

WHEREAS, the Assignor is entitled to receive a sum of money amounting to {{amount}} ({{amount_in_words}}) from {{debtor_company_name}} (hereinafter referred to as “the Debtor”) arising from {{description_of_underlying_transaction}} (the “Assigned Funds”).

AND WHEREAS, the Assignor desires to assign all its rights, title, and interest in and to the Assigned Funds to the Assignee.

AND WHEREAS, the Assignee is willing to accept such assignment on the terms and conditions hereinafter appearing.

NOW, THEREFORE, IT IS HEREBY AGREED as follows:

1. Assignment

The Assignor hereby irrevocably and unconditionally assigns, transfers, and sets over to the Assignee all its rights, title, and interest in and to the Assigned Funds, including but not limited to, the right to demand, sue for, recover, and receive the Assigned Funds from the Debtor.

2. Notification to Debtor

The Assignor undertakes to promptly notify the Debtor of this assignment and to provide the Debtor with all necessary instructions to make payment of the Assigned Funds directly to the Assignee. A copy of such notification is attached hereto as Schedule A.

3. Warranties and Representations

The Assignor hereby warrants and represents that:

a) It has the full right, power, and authority to enter into this Assignment and to assign the Assigned Funds to the Assignee.

b) The Assigned Funds are genuine, valid, and enforceable and are not subject to any set-off, counterclaim, or other defence whatsoever.

c) There are no prior assignments, charges, or encumbrances affecting the Assigned Funds.

4. Indemnity

The Assignor hereby indemnifies and holds harmless the Assignee from and against any and all claims, demands, liabilities, costs, and expenses (including legal fees) whatsoever arising out of or in connection with any breach of the warranties and representations contained herein.

5. Governing Law and Jurisdiction

This Assignment shall be governed by and construed in accordance with the laws of {{country}}. The parties hereto irrevocably submit to the exclusive jurisdiction of the courts of {{country}}.

SCHEDULE A: NOTIFICATION TO DEBTOR

To: {{debtor_company_name}}

Address: {{debtor_address}}

Date: {{date}}

SUBJECT: NOTIFICATION OF ASSIGNMENT OF MONEY DUE

Dear Sir/Madam,

Please be advised that by virtue of an Assignment of Money Due dated {{date_of_assignment}}, we have irrevocably assigned all our rights, title, and interest in and to the sum of {{amount}} ({{amount_in_words}}) that is due to us from you arising from {{description_of_underlying_transaction}} to {{assignee_company_name}}.

Accordingly, you are hereby directed to make all future payments relating to the aforementioned sum directly to {{assignee_company_name}} at the following bank account details:

Bank Name: {{assignee_bank_name}}

Account Name: {{assignee_bank_account_name}}

Account Number: {{assignee_bank_account_number}}

Swift Code: {{assignee_swift_code}}

Any payment made to us in respect of the Assigned Funds after the date of this notification will not discharge your obligations in respect of the said Assigned Funds.

Yours faithfully,

For and on behalf of {{assignor_company_name}}

_________________________

Name: {{assignor_signatory_name}}

Designation: {{assignor_signatory_designation}}

SIGNATURE BLOCK

IN WITNESS WHEREOF, the parties hereto have executed this Assignment on the date first above written.

_________________________

For and on behalf of the Assignor

Name: {{assignor_signatory_name}}

Designation: {{assignor_signatory_designation}}

_________________________

For and on behalf of the Assignee

Name: {{assignee_signatory_name}}

Designation: {{assignee_signatory_designation}}

WITNESSES:

1. Name: {{witness_1_name}}

Signature: _________________________

Date: {{witness_1_date}}

2. Name: {{witness_2_name}}

Signature: _________________________

Date: {{witness_2_date}}