This novation agreement template may be used to transfer the rights and obligations of one party under a contract to another person or organisation.

Under this template, the transfer of rights and obligations takes effect from a specified date, which date should be after the coming into force of the original contract. If you are looking to transfer the contract "ab initio" (i.e. to create a legal fiction that the transferee was the original contracting party, not the transferor) you should consider our Novation Agreement (ab initio) precedent instead.

This template contains the following provisions:

> Definitions
> Transferee's obligations
> Counterparty's obligations
> Release
> Pre-existing claims
> Indemnity
> Third party rights
> Counterparts
> Law and jurisdiction

This template is 4 pages long (including the cover page), and is supplied in Word (.doc) format for easy editing.

You can view a sample version of this template, containing the first few pages only, here:
Sample Novation Agreement.