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Deed of Assignment and Novation

KShs 3,500.00

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.

This standard document has integrated notes with important explanations and drafting tips.

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