Assignment of Business Contract Template

Assignment Of Business Contract


TheAssignment of Business Contracts should be described in full so as to ensure that all the goodwill which is intended to be sold/purchased is included.

The Equipment should be listed in the Schedule. It is also possible to adapt this document to include the sale of Stock. This should also be listed but if so "at value" the parties must agree how and when it is to be valued.

This Assignment of Business Contract document does not seek to transfer any rights to premises or property in which the Business has been carried on by the Seller. If premises/property are included in the "deal" between the parties this will require advice from a solicitor to both parties.

The Assignment document needs to show whether or not VAT is to be added to the cost of the goodwill and the equipment. If the seller is registered for VAT and it is to be charged on the sale price of the goodwill and/or equipment a valid and receipted VAT invoice should be delivered by the Seller to the Buyer on the date of sale.It is advisable to take advice from an accountant or from H.M. Customs & Excise if there is any doubt about whether the transaction will be subject to VAT.

This Assignment template is in fixed field format. Simply press TAB to jump from one field to the next and SHIFT + TAB to go back. Alternatively, use the mouse to click from one field to the next.

The Business Contract template can be unlocked by clicking on the "Padlock" icon on the tool bar. To display the "Padlock" icon click on "View" and then "Toolbars". From the "Toolbar" menu enable "Forms".