Short form letter of novation

The following Commercial precedent provides comprehensive and up to date legal information covering:

  • Short form letter of novation

Short form letter of novation

[On headed notepaper of the OUTGOING party to the ORIGINAL CONTRACT]

[insert name of remaining party to the original contract] [insert address of remaining party to the original contract]

[insert name of incoming party] [insert address of incoming party]

[Insert date]

Dear [insert names of remaining and incoming parties]

Novation of contract

We refer to the agreement between [insert name of remaining party to the original contract] (Remaining Party) and [insert name of outgoing party] (Outgoing Party) relating to [insert specific purpose of agreement][, as amended from time to time,] dated [insert date] (Original Contract), a copy of which is annexed to this Letter and initialled by the parties to this Letter. The Outgoing Party wishes to transfer, by way of novation, its rights and obligations under the Original Contract to [insert name of incoming party] a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address of incoming party] (Incoming Party) on the following terms set out in this letter agreement (Letter):

    1. 1

      Novation

      1. 1.1

        With effect from and including [the date of this Letter OR [insert date]] (Novation Date) and in consideration of the mutual rights, obligations and undertakings

Popular documents