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 must be at some point 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 ab initio novation contract precedent instead.

This novation agreement contains the following provisions:

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

The agreement is 4 pages long (including the cover page), and is supplied in MS Word (.doc) format for easy editing. You can review the first few sections of this novation agreement here:

Sample Novation Agreement