Assignment Clause

An assignment clause governs whether and how a party can transfer its rights and obligations under a contract to a third party.

How It Works in Contracts

Typically restrict transfers without consent. Often include exceptions for restructuring, mergers, or affiliate transfers.

Examples

No assignment without prior written consent
Assignment permitted to affiliates without consent
Attempted assignment without consent is void

Related Terms

Related Resources

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Frequently Asked Questions

What is contract lifecycle management?: Contract lifecycle management (CLM) is the process of managing contracts from creation through execution, compliance, and renewal. Snifty Contracts automates this with AI-powered data extraction, approval workflows, and renewal alerts.
How much does Snifty Contracts cost?: Snifty Contracts offers two plans: Essential at $99/month (or $82.50/month billed annually) and Professional at $199/month (or $166/month billed annually). Both include a 7-day free trial.
How long does it take to set up Snifty Contracts?: Snifty Contracts can be set up in under 60 minutes. Simply sign up, upload your contracts, and the AI automatically extracts key details like parties, dates, and values.
Can Snifty Contracts send renewal reminders?: Yes. Snifty Contracts automatically sends configurable email reminders before contract renewal dates. You can customize reminder schedules per contract or set organization-wide defaults.