Terms and Conditions of Contracts for Projects from POME by Gautam Koppala VT
SBG specific policies and processes.
Sales Agreement Term & Condition Standard Assignment
An assignment of a contract is a transfer of the benefits of a contract from one party (the assignor) to another individual or entity (the assignee) that was not a party to the original contract.
In certain jurisdictions the general principle of assignment (subject to certain conditions) is that the benefit of a contract may be freely assigned to a third party without the consent of the other party. However, the burden of an agreement cannot be assigned without a “novation agreement” signed by the existing parties and the new party. A key exception to the general principle is that rights under a personal contract may not be assigned because in such contracts it makes a difference to the non-assigning party who performs
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