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Assignment Of Claim Agreement Template for Austria

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Key Requirements PROMPT example:

Assignment Of Claim Agreement

"I need an Assignment of Claim Agreement under Austrian law to transfer a 鈧50,000 trade receivable from my manufacturing company to a debt collection agency, with payment to be made in three installments by March 2025."

Document background
The Assignment Of Claim Agreement is a crucial document used in Austrian business and financial transactions when one party wishes to transfer its rights in a claim to another party. This document is commonly used in debt trading, factoring arrangements, corporate restructuring, and as part of broader financial transactions. Under Austrian law, the agreement must comply with specific requirements set out in the ABGB (Austrian Civil Code), including proper identification of the assigned claim, clear terms of transfer, and appropriate notification procedures. The document is particularly important in scenarios involving debt collection, business acquisitions, or financial restructuring, where claims need to be legally transferred between parties. The agreement includes detailed information about the claim being assigned, the rights and obligations of both assignor and assignee, and any conditions attached to the assignment.
Suggested Sections

1. Parties: Identification of the Assignor and Assignee with full legal names and addresses

2. Background: Context of the assignment, including details about the original claim and the reason for assignment

3. Definitions: Definitions of key terms used throughout the agreement

4. Subject Matter of Assignment: Detailed description of the claim(s) being assigned

5. Assignment and Transfer: The operative provisions effecting the transfer of the claim

6. Purchase Price and Payment: Details of consideration for the assignment and payment terms

7. Representations and Warranties of Assignor: Assignor's warranties regarding ownership and validity of the claim

8. Notification and Perfection: Requirements for notifying the debtor and perfecting the assignment

9. Cooperation: Obligations of parties to cooperate in effecting the assignment

10. Governing Law and Jurisdiction: Specification of Austrian law as governing law and jurisdiction details

Optional Sections

1. Security Interests: Required when there are existing security interests related to the assigned claim

2. Warranties of Assignee: Included when specific representations from the assignee are required

3. Tax Provisions: Required when there are specific tax implications that need to be addressed

4. Confidentiality: Included when sensitive information is involved in the assignment

5. Data Protection: Required when personal data is involved in the assigned claims

6. Further Assurance: Optional clause for additional actions that may be required post-assignment

7. Costs and Expenses: Included when there's a need to specify responsibility for transaction costs

8. Partial Invalidity: Optional severability clause for complex assignments

Suggested Schedules

1. Schedule 1 - Details of Assigned Claim: Detailed description of the claim including amount, due date, and debtor details

2. Schedule 2 - Original Contract: Copy of the contract or document evidencing the original claim

3. Schedule 3 - Payment Details: Bank account and payment information for the transfer of consideration

4. Appendix A - Form of Notice to Debtor: Template for the notification to be sent to the debtor regarding the assignment

5. Appendix B - Related Security Documents: Copies of any security documents related to the assigned claim

6. Appendix C - Power of Attorney: If required, form of power of attorney for executing additional documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses






























Relevant Industries

Financial Services

Banking

Insurance

Real Estate

Manufacturing

Professional Services

Healthcare

Construction

Retail

Technology

Telecommunications

Energy

Relevant Teams

Legal

Finance

Treasury

Credit Control

Risk Management

Commercial Operations

Compliance

Corporate Services

Debt Collection

Business Development

Contract Management

Relevant Roles

Legal Counsel

Corporate Lawyer

Finance Manager

Chief Financial Officer

Credit Manager

Collections Manager

Risk Manager

Treasury Manager

Commercial Director

Business Development Manager

Contract Administrator

Debt Collection Officer

Financial Controller

Legal Operations Manager

Compliance Officer

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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