Assignment Of Business Contract

This Assignment Of Business Contract is intended to document the assignment of a business contract and related goodwill, where the parties want to transfer the relevant rights as part of a business/asset sale.

What does Assignment Of Business Contract do?

It records the assignment of the relevant contract and is intended to capture the goodwill being sold or purchased, so that the transfer reflects what the parties intend to include in the deal.

What does Assignment Of Business Contract cover?

• A description of the business contract and the goodwill being transferred, intended to ensure the agreed goodwill is included.
• A schedule for listing equipment being transferred and an approach that can be adapted to include stock, where relevant.
• VAT-related points, including whether VAT is to be added to the price for goodwill and equipment, and the delivery of a valid VAT invoice where VAT is chargeable and the seller is VAT registered.

When should you use Assignment Of Business Contract?

Use this document where the parties want to assign a business contract as part of a business/asset sale, and the transfer can be effected by assignment.

This template does not seek to transfer any rights to premises or property from which the business has been carried on. If premises or property form part of the transaction, the parties should take legal advice.

If there is any doubt about whether VAT applies to the transaction, it is advisable to take advice from an accountant or from HM Customs & Excise.

Assignment Of Business Contract is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.