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Business & contracts 3 signers 3 pages 16 blanks to fill in

Assignment of Contract Template

Transfer your place in a contract to a new party — with the other original party's consent and a clear split of responsibility before and after the transfer date.

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Assignment of contract
The blanks in brackets are what you fill in. VergeHR adds each signer’s signature and date boxes.
Assignment of contract — page 1 of 3
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Assignment of contract — page 2 of 3
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Assignment of contract — page 3 of 3
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Use This Template Fill in the blanks, name who signs, and send — from VergeHR eSignature.

What is a assignment of contract?

An assignment of contract moves one party's rights and obligations under an existing contract to someone new. It's common when a business is sold or restructured, when a supplier hands a customer contract to another supplier, or when a contract is moved between companies in the same group. Most commercial contracts need the other party's consent before they can be transferred, so this template is signed by all three: the party leaving (assignor), the party taking over (assignee) and the other original party.

It covers the transfer and the transfer date, who is responsible for what before and after that date, amounts that straddle it, any price paid for the transfer, the other party's consent, whether the assignor is released from future obligations (often called a novation) or stays responsible if the assignee fails, the assignor's promises about the contract, indemnities between assignor and assignee, where notices go, and cooperation after the transfer.

Best for
Moving a customer, supplier or service contract to a new business
Signed by
Assignor, assignee and the other original party
Release
You choose: the assignor is released, or stays responsible if the assignee fails
Length
2–3 pages, initialled by all three on every page

When to Use a assignment of contract

  • Selling a business and transferring its key customer and supplier contracts to the buyer
  • Moving a contract from one company to another in the same group
  • A contractor handing an ongoing maintenance contract to another provider, with the client's agreement
  • Transferring an equipment lease or service subscription to a new owner
  • A departing partner handing a client engagement to a successor firm

What You Fill In

16 blanks, then the name and email of each person who signs: assignor, assignee, other party.

1 The parties

  • Agreement date*
  • Assignor (company or person)*
  • Assignor address
  • Assignee (company or person)*
  • Assignee address
  • Other party (company or person)*
  • Other party address

2 The contract

  • Contract being assigned*
  • Date of the contract*
  • Transfer date*
  • Is the Assignor released?* Yes — the Assignor is released from the transfer date · No — the Assignor stays responsible if the Assignee does not perform

3 Payment for the transfer

  • Currency
  • Price paid by the Assignee to the Assignor
  • Amounts that straddle the transfer date

4 Other terms

  • Assignee's email for notices under the contract
  • Governing law*

5 Who signs

  • Assignor signature and date, job title, initials on every page · The party transferring its place in the contract.
  • Assignee signature and date, job title, initials on every page · The new party taking over the contract.
  • Other party signature and date, job title, initials on every page · The other original party to the contract, who consents.

What the assignment of contract Covers

  1. Background
  2. Assignment
  3. Before and after the Transfer Date
  4. Consent of the Other Party
  5. Promises by the Assignor
  6. Responsibility between Assignor and Assignee
  7. Notices and cooperation
  8. General

Using the assignment of contract, step by step

1 Name the three parties

The assignor (leaving), the assignee (taking over) and the other party (staying). Use full legal names and addresses.

2 Identify the contract and transfer date

Enter the contract's title and date and the day the assignee takes over. Everything before that date stays with the assignor; everything from that date is the assignee's.

3 Decide on release and payment

Choose whether the other party releases the assignor from future obligations — a clean exit — or keeps the right to look to the assignor if the assignee doesn't perform. Add any price the assignee pays for the transfer and how prepayments or deposits are shared.

4 Send to all three signers

Tick "This is me" for your role and add the other two signers. VergeHR places three signature blocks with title boxes and three sets of initials on every page.

Tips Before You Send It

  • Read the contract's assignment clause first — it may require consent in a particular form, or forbid assignment altogether.
  • Give the assignee a complete copy of the contract and every amendment; the assignor promises it has.
  • Settle prepayments, deposits and accrued charges in the apportionment field so no one argues about them later.
  • If the contract involves personal data, licences or regulated activities, check whether anything else is needed to transfer it.
  • Tell your bank, invoicing and support teams the transfer date so payments and notices go to the right place.

Sign It Online In Minutes

  1. Fill in the blanks. Names, dates and amounts go straight into the agreement — the preview shows exactly where.
  2. Name who signs. Tick “This is me” for your own part. VergeHR builds the PDF with every signature, date and initials box on the right line, and you can check or move anything before sending.
  3. Send it. Each signer gets a secure link and signs from any device — no account needed. The signed PDF, with an audit trail and a Certificate of Completion, is filed in Files and emailed to everyone.
Use the assignment of contract Template — It’s Free

Assignment of contract: frequently asked questions

What's the difference between assignment and novation?

Broadly, an assignment transfers the benefit of a contract, while a novation replaces one party with another so that the new party takes on the obligations too and the old party is released. The terms are used differently in different places. This template transfers both rights and obligations with the other party's consent, and lets you choose whether the assignor is released.

Why does the other party need to sign?

Obligations can't usually be transferred without the consent of the person they're owed to, and many contracts need consent even for rights. The other party's signature records that consent and, if you choose, the assignor's release.

Who is liable for problems before the transfer?

The assignor stays responsible for everything that arose before the transfer date and indemnifies the assignee for it. The assignee is responsible from the transfer date and indemnifies the assignor for that period.

Can it be signed electronically?

In most countries, including the US (ESIGN Act and UETA), the UK, the EU (eIDAS) and Canada, an electronic signature is generally valid for an ordinary commercial contract like this one. VergeHR keeps an audit trail and a Certificate of Completion with the signed PDF as evidence of who signed and when. If the contract being assigned is itself a deed or relates to land, check whether a particular form of signing is needed.

Is this template free?

Yes. The template is free to use with the eSignature app in VergeHR, and the people you send it to don't need a VergeHR login to sign.

Use This Template — Free