Read the document to make sure it meets your needs and that you’ve provided all of the necessary information about the contract. Make sure all three parties involved agree with the Agreement. Remember that, if you have any questions, you can Ask a lawyer for advice.
All three parties to the Novation Agreement must sign the Agreement. It will then become a legally binding contract.
If either party is a company or an LLP, its representative (ie signatory) must sign.
You can sign your Novation Agreement by either:
signing in print, or
signing online using RocketSign
This Novation Agreement is structured as a letter addressed to the remaining party. It should be served (ie given) to them properly. This may need to occur before everybody has signed the notice, depending on whether the remaining party has been involved in discussing the novation (ie so they’ve already signed) or not. If only the incoming and outgoing parties have discussed the novation, and they’re using this Novation Agreement to inform the remaining party of their intentions and to ask for their consent, it can be sent to the remaining party before it’s been signed.
Check the contract you are novating for any special rules about serving notices and make sure they are followed. It’s usually appropriate to serve business notices, such as this one, by courier, post or email (if the contract allows for service by email).
Each party should keep their own original signed Agreement. If you signed online, you should download and securely store a copy of your Novation Agreement for your records and ensure the other parties do so too.
A copy of your Novation Agreement will also be stored automatically in your Rocket Lawyer account ‘Dashboard’.
You should also collect and securely store any proof of service when you send the Agreement to the remaining party, for example:
Royal Mail receipts. You should use a recorded delivery service if you send your Agreement by post
response emails, other messages, or email ‘read receipts’