Novation Letter For Sales
The purpose of this Novation letter is to enable a company (the “Vendor”) which is selling its business to another (the “Purchaser”) and has contracts with its' customers to transfer these contracts to the Purchaser.
All the rights and obligations of the Vendor under the contracts with the customers are transferred to the Purchaser and the Purchaser, by virtue of the Novation, replaces the Vendor as a party to the contract with the customers.
The Novation Letter for Sales should be signed by the Vendor, countersigned by the Purchaser and the customer.
This Novation Letter for Sales template is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.