Make Your Document In 3 Easy Steps:
What is a Novation Agreement?
When should I use a Novation Agreement?
- if you want to end an existing contract between two parties and create a new contract, on the same terms as the old contract, with one new party and one of the original parties
- when there are no changes to the terms of the contract (only to the parties)
- where you want to transfer the rights, benefits, obligations and burdens of a contract to a new party
- if you’re an individual or a business
- following an asset purchase transaction or as a stand-alone agreement