Document background
An Assignment Of Payment Agreement is a crucial document used when a party wishes to transfer its rights to receive certain payments to another party. This document is particularly relevant in the Netherlands, where such assignments are governed by specific provisions of the Dutch Civil Code. The agreement is commonly used in various business contexts, including factoring arrangements, securitizations, project finance, and general business financing. It allows companies to monetize their receivables or restructure payment arrangements. The document must comply with Dutch legal requirements for assignments, including proper identification of the assigned rights, consideration details, and necessary notification procedures. Key considerations include whether the assignment is disclosed or undisclosed, with or without recourse, and any specific requirements of the underlying payment obligations.
