It is usual for parties to have a contract to determine whether they will permit each other to assign their respective rights or transfer their respective obligations to third parties; in the absence of any specific provision in the contract, the usual rule is that whilst it may be permissible for a party to assign its rights under a contract, it is not permissible for that party to transfer its obligations under a contract to a third party without the consent of the other members of the agreement.
This free guidance document gives information on this process and is useful to contractors in the construction industry.
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You may also find these contracts of use:
Novation Agreement – Construction (B127)
£25.00 Plus VATWhat is this contract for? You can use this novation agreement when a contractor transfers all its rights and obligations under its contract with a client to a new contractor, who steps in and becomes…
Conditions of Contract for Supply of Works & Services (B122)
£25.50 Plus VATWho can use this contract? These Conditions of Contract Supply Works and Services are for use by any company or organisation that needs a contractor working for them from time to time, whether on a…