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Deed Of Assignment In (Construction)
"I need a Deed of Assignment in Construction to transfer our existing Manila commercial building project from ABC Construction Corp to its newly formed subsidiary XYZ Builders Inc, with the assignment to take effect from March 1, 2025; the project is 40% complete and valued at 50M PHP."
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1. Parties: Identifies and provides full details of the Assignor and Assignee, including their legal capacity to enter into the agreement
2. Background: Outlines the context of the original construction contract and the reason for the assignment
3. Definitions: Defines key terms used throughout the deed, including 'Construction Contract', 'Project', 'Assignment Date', etc.
4. Assignment: Core clause that formally transfers the rights, benefits, and obligations from Assignor to Assignee
5. Consideration: States the payment or other consideration for the assignment
6. Effective Date: Specifies when the assignment becomes effective
7. Assignor's Warranties: Warranties regarding ownership of rights, authority to assign, and status of the construction contract
8. Assignee's Covenants: Assignee's commitments to perform the obligations under the construction contract
9. Consents and Approvals: Confirmation of necessary third-party consents obtained for the assignment
10. Indemnification: Mutual indemnities between parties for breaches of warranties or obligations
11. Governing Law: Specifies Philippine law as governing law and jurisdiction
12. Execution: Formal execution block with notarization requirements under Philippine law
1. Novation: Include when the assignment involves a complete novation of the original contract with the client's explicit consent
2. Security Arrangements: Include when there are performance bonds or other security arrangements that need to be transferred or replaced
3. Intellectual Property Rights: Include when the assignment involves transfer of design rights or other IP
4. Employee Matters: Include when construction workers or other employees are being transferred as part of the assignment
5. Insurance: Include when specific insurance arrangements need to be transferred or new policies obtained
6. Dispute Reֱ: Include when parties want to specify alternative dispute reֱ mechanisms
7. Transition Arrangements: Include when there needs to be a handover period or specific transition provisions
1. Schedule 1 - Original Construction Contract: Copy or details of the construction contract being assigned
2. Schedule 2 - Project Details: Specific details of the construction project including location, scope, and specifications
3. Schedule 3 - Outstanding Works: List of remaining works to be completed under the construction contract
4. Schedule 4 - Payment Details: Details of outstanding payments, payment schedule, and payment mechanisms
5. Schedule 5 - Permits and Licenses: List of relevant construction permits, licenses, and authorizations
6. Schedule 6 - Third Party Consents: Copies of all required third-party consents and approvals
7. Schedule 7 - Existing Securities: Details of any existing performance bonds, guarantees, or other securities
8. Appendix A - Form of Notice to Employer: Template notice informing the employer/client of the assignment
Authors
Construction
Real Estate Development
Infrastructure
Commercial Property
Residential Development
Industrial Construction
Government Infrastructure Projects
Energy and Utilities Construction
Transportation Infrastructure
Healthcare Facility Construction
Legal
Construction
Operations
Compliance
Risk Management
Commercial
Project Management
Procurement
Corporate Secretariat
Business Development
Construction Project Manager
Contract Administrator
Legal Counsel
Construction Director
Project Developer
Chief Operating Officer
Risk Manager
Compliance Officer
Construction Site Manager
Procurement Manager
Commercial Director
General Counsel
Corporate Secretary
Business Development Manager
Operations Director
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Deed Of Assignment In (Construction)
A Philippine law-governed document that transfers construction contract rights and obligations from one contractor to another, ensuring legal compliance and continuity of construction projects.
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