Assignment of Contract Proceeds definition
Examples of assignment of contract proceeds in a sentence.
The trade financing is secured and supported by: • Guarantee by Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) under the Working Capital Guarantee Scheme (WCGS) of 70% from the approved amount; • Guarantee by general deed of Assignment of Contract Proceeds and Charge Over Project Account to be executed between the Customer and the Bank for all contract financed by the Bank; • Pledged deposits of RM Nil (2020: RM974,000) as disclosed in Note 8; • Joint and several guarantees by all directors of SHESB.
The Participants may apply the following buyer risk credit enhancements (BRCE) which allow for the application of a Credit Enhancement Factor (CEF) greater than 0: — Assignment of Contract Proceeds or Receivables — Asset Based Security — Fixed Asset Security — Escrow Account.
In total, the new rules provide for four types of Buyer Risk Credit Enhancements (BRCEs) that may lead to a CEF value greater than zero: BRCE Defintion Maximum CEF Assignment of Contract Proceeds or Receivables In the event a Borrower has contracts with strong off-takers, whether offshore or local, a legally enforceable assignment of the contract provides rights to enforce the Borrower’s contracts and/or make decisions under major contracts in the place of the Borrower after a default under the loan.
Residues colored pink differ between MG505.A2 and BG505 (left-hand panel) and between MG505.H3 and BG505 (right-hand panel).
Section 5(1) " Assignment of Contract Proceeds " of the Guarantee Agreement is hereby deleted.
The Participants may apply the following buyer risk credit enhancements (BRCE) which allow for the application of a Credit Enhancement Factor (CEF) greater than 0: Assignment of Contract Proceeds or Receivables— Asset Based Security— Fixed Asset Security — Escrow Account.
The Participants may apply the following buyer risk credit enhancements (BRCE) which allow for the application of a Credit Enhancement Factor (CEF) greater than 0: Assignment of Contract Proceeds or Receivables— Asset Based Security— Fixed Asset Security— Escrow Account.
Combining ‘space’ relation to ‘body’, and ‘race’ as body/space, my own theoretical understanding of the position of the ‘Other’ in relation to a space and practice legitimated within a white culinary discourse, as embodied ‘Otherness’.
I however note that by way of a Deed Of Assignment of Contract Proceeds dated 7.7.2020 (DOA) between the Applicant and Alliance Bank Malaysia Berhad (Alliance Bank) in exhibit L-3 in enclosure 2, at clause 3 thereof read with Schedule 1 thereto, the Applicant as the assignor therein has assigned absolutely “all contract proceeds and all the Assignor’s rights, title and interest in and to and under the Contract Proceeds” to Alliance Bank.
Director Director/Secretary (Pursuant to Clause 1.1.8 of the Deed of Assignment of Contract Proceeds dated the day of , 20 ) All terms referred to herein shall have the same meaning as the terms in the abovementioned Assignment (herein referred to as “this Assignment”).
Related to Assignment of Contract Proceeds
Assignment of Contracts shall have the meaning assigned thereto in Section 6.1(b)(iv).
Collateral Assignment Agreement has the meaning set forth in Section 10.05.
Collateral Assignment means, with respect to any Contracts, the original instrument of collateral assignment of such Contracts by the Company, as Seller, to the Collateral Agent, substantially in the form included in Exhibit A hereto.
Collateral Assignments means, collectively, the Assignment of the Development Agreement, and the Assignment of Management Agreement, the Assignment of the Right to Receive Tax Credits, Capital Contributions and Partnership Interests, each in form and substance satisfactory to the Significant Bondholder and the Financial Monitor and as each may be amended or supplemented from time to time with the prior written consent of the Significant Bondholder.
Insurance Proceeds With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.
Collateral Assignment of Interest Rate Cap Agreement means that certain Collateral Assignment of Interest Rate Cap Agreement, dated as of the date hereof, executed by Borrower in connection with the Loan for the benefit of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.
Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.
Loss Proceeds means, collectively, all Insurance Proceeds and all Condemnation Proceeds.
Property Insurance Proceeds Proceeds of any title policy, hazard policy or other insurance policy covering a Mortgage Loan, to the extent such proceeds are received by the Servicer and are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the Servicer's servicing procedures, subject to the terms and conditions of the related Mortgage Note and Mortgage.
Loss Proceeds Account has the meaning set forth in Section 3.3(a).
Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.
Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.
Assignment Amount means, with respect to a Committed Investor at the time of any assignment pursuant to Section 3.1, an amount equal to the least of (a) such Committed Investor’s Pro Rata Share of the Net Investment requested by the Uncommitted Investor in its Investor Group to be assigned at such time; (b) such Committed Investor’s unused Commitment (minus the unrecovered principal amount of such Committed Investor’s investments in the Asset Interest pursuant to the Program Support Agreement to which it is a party); and (c) in the case of an assignment on or after the applicable Conduit Investment Termination Date, an amount equal to (A) the sum of such Committed Investor’s Pro Rata Share of the Investor Group Percentage of (i) the aggregate Unpaid Balance of the Receivables (other than Defaulted Receivables), plus (ii) all Collections received by the Servicer but not yet remitted by the Servicer to the Agent, plus (iii) any amounts in respect of Deemed Collections required to be paid by the SPV at such time.
Sale and Contribution Agreement means the Sale and Contribution Agreement, dated as of the date hereof, relating to the sale and contribution by Credit Acceptance to the Seller of the Conveyed Property, as defined therein.
Excluded Insurance Proceeds means any proceeds of an insurance claim which the Borrower notifies the Agent are, or are to be, applied:
Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.
Assignment of Earnings shall have the meaning provided in the definition of “Collateral and Guaranty Requirements”.
Contract Assignment means, with respect to the Mortgaged Property, the Assignment of Contracts, Licenses, Permits, Agreements, Warranties and Approvals, dated as of the Closing Date and executed by the Borrower.
Bond Proceeds means the proceeds from the sale of bonds, notes, and other obligations issued by a district, and reserves and funds maintained by a district for debt service purposes.
Purchase Proceeds means any cash amounts received by the Master Servicer in connection with: (i) the repurchase of a Mortgage Loan or an REO Mortgage Loan by a Seller pursuant to Section 2.3, (ii) the purchase of the Mortgage Loans and REO Properties by the Holders of the Controlling Class, the Master Servicer, the Special Servicer, the Holders of the Class R Certificates or any other applicable Person pursuant to Section 11.1(b), (iii) the purchase of an A Note by a holder of the related B Note in accordance with the terms of the related Intercreditor Agreement or (iv) the purchase of a Mortgage Loan by a holder of a mezzanine loan under the related mezzanine intercreditor agreement.
Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.
REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.
Insurance and Condemnation Proceeds shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.
Assignment and Conveyance Agreement As defined in Subsection 6.01.
Termination Proceeds means any Purchase Option Price received upon the purchase of a 20[__]-[__] Vehicle by the related Lessee or the price received from the sale of a 20[__]-[__] Vehicle to a dealer minus amounts included in either such price that represent reimbursement for third-party charges paid or payable (such as fees and taxes).
Permitted Loan Purchase Assignment and Acceptance means an assignment and acceptance entered into by a Lender as an Assignor and Holdings, the Borrower or any of the Subsidiaries as an Assignee, as accepted by the Administrative Agent (if required by Section 9.04) in the form of Exhibit G or such other form as shall be approved by the Administrative Agent and the Borrower (such approval not to be unreasonably withheld or delayed).
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Assignment of Proceeds
Diane Costagliola is a researcher, librarian, instructor, and writer who has published articles on personal finance, home buying, and foreclosure.
Investopedia / Jiaqi Zhou
What Is an Assignment of Proceeds?
An assignment of proceeds occurs when a beneficiary transfers all or part of the proceeds from a letter of credit to a third-party beneficiary . Assigning the proceeds from a letter of credit can be utilized in many types of scenarios, such as to pay suppliers or vendors in a business transaction or to settle other debts.
- An assignment of proceeds can be used to redirect funds from a line of credit to a third party.
- An assignment of proceeds must be approved by the financial institution that granted the line of credit following a request and fulfillment of any obligations by the original beneficiary.
- A benefit of this type of transaction is the ability to redirect only a portion of the proceeds, in which case both the original beneficiary and third party can access the same letter of credit.
- A drawback of this type of transaction is that the original beneficiary is still responsible for fulfilling all requirements under the letter of credit, even when the funds are redirected to the third party.
- This type of transaction is used in a number of circumstances, such as when paying suppliers or vendors, or when settling outstanding debts.
Understanding an Assignment of Proceeds
A letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. The original beneficiary, the named party who is entitled to receive the proceeds from a letter of credit, may choose to have them delivered to a third party instead, through an "assignment of proceeds."
Due to the nature of international dealings, including factors such as distance, differing laws in each country, and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade.
In order to process an assignment of proceeds, the original beneficiary of the letter of credit must submit a request to the bank or other financial institution issuing the letter of credit requesting to assign the funds to a different individual or company. The assignment of proceeds will need to be approved by the financial institution once it is submitted, pending the fulfillment of any requirements set forth in the letter of credit.
If the original beneficiary does not meet the obligations outlined in the letter of credit, no assignment will take place. Once approved, the bank or other entity will release the money to the specified third party to be drawn upon at will.
Advantages and Disadvantages of an Assignment of Proceeds
The main benefit of an assignment of proceeds is that the original beneficiary has the ability to assign all or just a portion of the letter of credit to the third party. The original beneficiary will retain access to any portion of the proceeds not redirected to the third party. This allows both entities to make use of the same letter of credit when necessary.
This benefit must be weighed against the potential drawback of this type of transaction. When an assignment of proceeds takes place, the financial institution is not contracting directly with the third-party beneficiary. It is only acting as an agent in supplying the funds to the third party. The original beneficiary is still responsible for completing any and all requirements under the letter of credit.
Example of an Assignment of Proceeds
Assume XYZ Customer, in Brazil, is purchasing widgets from ABC Manufacturer, in the United States. In order to sign off on the deal, ABC Manufacturer requires that XYZ Customer obtains a letter of credit from a bank to mitigate the risk that XYZ may not pay ABC for the widgets once ABC has shipped them out of the country.
At this point, ABC Manufacturer is able to request that a portion of these funds be redirected to DEF Supplier, whom ABC still owes money for parts used in making the widgets. Even though a portion of the funds has been redirected to DEF Supplier, ABC Manufacturer still has to fulfill its obligations under the letter of credit, such as shipping out the widgets to XYZ.
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Assignment of Government Contract Proceeds
An advance decision was requested regarding the validity of a defaulted contractor's assignment of contract proceeds to a financial institution. The assignment to the bank of the proceeds of a government contract where the bank's alleged financing was through the intermediary holding company was not recognized as a statutory assignment since there was no showing that either the bank or the intermediary actually provided funds to the government contractor or that the intermediary expended funds for the performance of the contract. The contractor's assignment to the bank of the contract proceeds executed after the contractor's operations ceased was invalid under 31 U.S.C. 203, since the purpose of that statute was to induce financial institutions to lend money to finance contractor's operations. The contractor's grant of a security interest in its accounts receivable to a holding company alleged to be an intermediary for the bank's financing was not a valid assignment under 31 U.S.C. 203, since the holding company did not qualify as a proper assignee.
Shirley A. Jones Managing Associate General Counsel [email protected] (202) 512-5644
Chuck Young Managing Director [email protected] (202) 512-4800
Sample Business Contracts
Assignment of Contract Proceeds - Paragon Systems Inc. and LSQ Funding Group LC
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Assignment of Contract
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What is an Assignment of Contract?
An assignment of contract is a legal term that describes the process that occurs when an existing contract assignee wishes to transfer their contractual obligations to another party. When an assignment of contract happens, the original party is relieved of their contractual duties, and their role is replaced by the approved incoming party.
How Does Assignment of Contract Work?
An assignment of contract is simpler than you might think.
The process starts with an existing contract party who wishes to transfer their contractual obligations to a new party.
When this occurs, the existing contract party must first confirm that an assignment of contract is permissible under the legally binding agreement. Some contracts prohibit assignments of contract altogether, and some require the other parties of the agreement to agree to the transfer.
In other cases, some contracts allow an assignment of contract without any formal notification to other contract parties. If this is the case, once the existing contract party decides to reassign his duties, he must create a “Letter of Assignment” to notify any other contract signers of the change.
The Letter of Assignment must include details about who is to take over the contractual obligations of the exiting party and when the transfer will take place. It must also be signed by both the incoming and outgoing parties.
Check out this article to learn more about how assigning a contract works.
Contract Assignment Examples
Contract assignments are great tools for contract parties to use when they wish to transfer their commitments to a third party. Here are some examples of contract assignments to help you better understand them:
Anna signs a contract with a local trash company that entitles her to have her trash picked up twice a week. A year later, the trash company transferred her contract to a new trash service provider. This contract assignment effectively makes Anna’s contract now with the new service provider.
Hasina enters a contract with a national phone company for cell phone service. The company goes into bankruptcy and needs to close its doors but decides to transfer all current contracts to another provider who agrees to honor the same rates and level of service. The contract assignment is completed, and Hasina now has a contract with the new phone company as a result.
Here is an article where you can find out more about contract assignments.
Assignment of Contract in Real Estate
Assignment of contract is also used in real estate to make money without going the well-known routes of buying and flipping houses. When real estate LLC investors use an assignment of contract, they can make money off properties without ever actually buying them by instead opting to transfer real estate contracts.
This process is called real estate wholesaling.
Real Estate Wholesaling
Real estate wholesaling consists of locating deals on houses that you don’t plan to buy but instead plan to enter a contract to reassign the house to another buyer and pocket the profit.
The process is simple: real estate wholesalers negotiate purchase contracts with sellers. Then, they present these contracts to buyers who pay them an assignment fee for transferring the contract.
This process works because a real estate purchase agreement does not come with the obligation to buy a property. Instead, it sets forth certain purchasing parameters that must be fulfilled by the buyer of the property. In a nutshell, whoever signs the purchase contract has the right to buy the property, but those rights can usually be transferred by means of an assignment of contract.
This means that as long as the buyer who’s involved in the assignment of contract agrees with the purchasing terms, they can legally take over the contract.
But how do real estate wholesalers find these properties?
It is easier than you might think. Here are a few examples of ways that wholesalers find cheap houses to turn a profit on:
- Direct mailers
- Place newspaper ads
- Make posts in online forums
- Social media posts
The key to finding the perfect home for an assignment of contract is to locate sellers that are looking to get rid of their properties quickly. This might be a family who is looking to relocate for a job opportunity or someone who needs to make repairs on a home but can’t afford it. Either way, the quicker the wholesaler can close the deal, the better.
Once a property is located, wholesalers immediately go to work getting the details ironed out about how the sale will work. Transparency is key when it comes to wholesaling. This means that when a wholesaler intends to use an assignment of contract to transfer the rights to buy to another person, they are always upfront about during the preliminary phases of the sale.
In addition to this practice just being good business, it makes sure the process goes as smoothly as possible later down the line. Wholesalers are clear in their intent and make sure buyers know that the contract could be transferred to another buyer before the closing date arrives.
After their offer is accepted and warranties are determined, wholesalers move to complete a title search . Title searches ensure that sellers have the right to enter into a purchase agreement on the property. They do this by searching for any outstanding tax payments, liens , or other roadblocks that could prevent the sale from going through.
Wholesalers also often work with experienced real estate lawyers who ensure that all of the legal paperwork is forthcoming and will stand up in court. Lawyers can also assist in the contract negotiation process if needed but often don’t come in until the final stages.
If the title search comes back clear and the real estate lawyer gives the green light, the wholesaler will immediately move to locate an entity to transfer the rights to buy.
One of the most attractive advantages of real estate wholesaling is that very little money is needed to get started. The process of finding a seller, negotiating a price, and performing a title search is an extremely cheap process that almost anyone can do.
On the other hand, it is not always a positive experience. It can be hard for wholesalers to find sellers who will agree to sell their homes for less than the market value. Even when they do, there is always a chance that the transferred buyer will back out of the sale, which leaves wholesalers obligated to either purchase the property themselves or scramble to find a new person to complete an assignment of contract with.
Learn more about assignment of contract in real estate by checking out this article .
Who Handles Assignment of Contract?
The best person to handle an assignment of contract is an attorney. Since these are detailed legal documents that deal with thousands of dollars, it is never a bad idea to have a professional on your side. If you need help with an assignment of contract or signing a business contract, post a project on ContractsCounsel. There, you can connect with attorneys who know everything there is to know about assignment of contract amendment and can walk you through the whole process.
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What Is an Assignment of Contract?
What happens when rights and duties under a contract are handed off to a third party.
An assignment of contract occurs when one party to an existing contract (the "assignor") hands off the contract's obligations and benefits to another party (the "assignee"). Ideally, the assignor wants the assignee to step into his shoes and assume all of his contractual obligations and rights. In order to do that, the other party to the contract must be properly notified. Read on to learn how assignments work, including how to keep an assignment option out of your contract.
How Assignments Work
How an assignment of contract plays out depends on many factors, especially the language of the contract. Some contracts may contain a clause prohibiting assignment; other contracts may require the other party to consent to the assignment.
Here's an example of a basic assignment of a contract: Tom contracts with a dairy to deliver a bottle of half-and-half to Tom's house every day. The dairy assigns Tom's contract to another dairy, and--provided Tom is notified of the change and continues to get his daily half-and-half--his contract is now with the new dairy.
An assignment doesn't always relieve the assignor of liability. Some contracts may include a guarantee that, regardless of an assignment, the original parties (or one of them) guarantees performance (that is, that the assignee will fulfill the terms of the contract ).
When Assignments Will Not Be Enforced
An assignment of a contract will not be enforced in the following situations.
The contract prohibits assignment. Contract language, typically referred to as an anti-assignment clause, can prohibit (and "void") any assignments. We provide a sample, below.
The assignment materially alters what's expected under the contract. If the assignment affects the performance due under the contract, decreases the value or return anticipated, or increases the risks for the other party to the contract (the party who is not assigning contractual rights), courts are unlikely to enforce the arrangement. For instance, if Tom's local, organic dairy assigned the contract to a factory farm dairy, this would be considered a material alteration.
The assignment violates the law or public policy. Some laws limit or prohibit assignments. For example, many states prohibit the assignment of future wages by an employee, and the federal government prohibits the assignment of certain claims against the government. Other assignments, though not prohibited by a statute, may violate public policy. For example, personal injury claims cannot be assigned because doing so may encourage litigation.
Delegation or Assignment?
In some cases, a party may not wish to assign the contract but only to get somebody else to fulfill its duties. Obviously, not all duties can be delegated--for example, some personal services are usually not delegated because they are so specific in nature. For example, if you hired Ted Nugent to perform at your event, he could not arbitrarily delegate his performing duties to Lady Gaga. To prohibit one party from delegating the responsibilities of the contract, the parties should include specific language to that effect in the agreement. For example, an anti-assignment clause might state, "Neither party shall assign or delegate its rights."
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Drafting an Assignment of Proceeds Agreement
Parties sometimes wish to assign all or part of the proceeds they will receive from an investment or other interest. Individuals often seek to accept a lump sum in cash in exchange for payments they will receive over time in order to invest in other projects or to create liquidity in their operations. However, there are a few considerations that should be kept in mind when drafting an assignment of proceeds agreement.
Scope of the Proceeds
Perhaps the most important issue to keep in mind when drafting an assignment of proceeds agreement is the scope of the proceeds to which the agreement applies. Sometimes, parties wish to assign all of the proceeds related to an investment or other interest. This includes reimbursement of any original investment made, dividends, rental income if applicable, and other monies. However, sometimes the parties wish to assign only part of the proceeds that the assignor may realize from an investment or other interest. The scope of the applicable proceeds is often the biggest source of disputes in assignment of proceeds agreements, so it is important that parties carefully consider and list all of the types of monies that will be applicable to the agreement.
Another important consideration when drafting an assignment of proceeds agreement is whether such an agreement may be further assignable. Assignees often wish for assignment of proceeds agreements to be further assignable without obtaining prior consent from the assignor. The assignee may wish to sell their interest in the proceeds at issue in the assignment agreement to generate income or liquidity for themselves. However, assignors may not want such an agreement to be further assigned, or at least require the assignee to obtain the Assignor’s consent before the agreement is further assigned. Assignees often may not wish to be involved with parties to which they do not have a pre-existing relationship, so they may wish to negotiate safeguards to the unconditional further assignment of an assignment of proceeds agreement.
Another critical factor to keep in mind when drafting an assignment of proceeds agreement is whether there should be a termination right. Some such agreements permit the assignor to terminate the agreement to assign proceeds at some future time so long as they refund the purchase price for the assignment and make some other concession. This gives the parties flexibility in case they wish to stop following an assignment of proceeds agreement. However, the duration after the closing date that a termination right vests may be a point of contention between the parties. Moreover, the amount of the concession that must be paid to terminate such an agreement is often negotiated between the parties. Each party to an assignment of proceeds agreement needs to carefully evaluate their situation and determine which negotiated right is best for their circumstances.
Bill of Assignment
A bill of assignment may be important when drafting an assignment of proceeds agreement. After a sale, sometimes parties execute a shorter document simply relating that the sale took place and conveying some important information about the transaction. This document is usually called a “bill of sale.” In an assignment of proceeds transaction, it might also be important to have a similar document known as a “bill of assignment.” This document lists all of the parties to the assignment and the purchase price of the assignment. The document may also note whether or not the assignment is further assignable, and this document may reference the longer assignment of proceeds agreement. A bill of assignment may go a long way toward making a further assignment possible and can be useful for other legal, tax, or accounting purposes.
Right to Audit
The ability to audit where proceeds are coming from is an important part of drafting an assignment of proceeds agreement. Parties often cannot be trusted to fairly and accurately calculate the proceeds which will be conveyed to a third party under an assignment of proceeds agreement. Sometimes, the amount of the proceeds may be difficult to calculate, and the sum of the money may be subject to different interpretations. In order to ensure that they will be treated fairly, parties to which proceeds are assigned may wish to audit the party who is paying the proceeds.
It is important to list all the books, records, and other materials that can be inspected as part of any audit under an assignment of proceeds agreement. In addition, the cost of such an audit may also be a point of contention between the parties. Normally, the party conducting the audit will bear any expenses accruing as a result of the audit. However, if discrepancies are found in the amount of proceeds paid to a party, that other party may be held responsible for the cost of an audit. It is also important that audits only occur at a certain frequency and requests for audits are reasonable so that parties are not unreasonably burdened because they need to participate in an audit under an assignment of proceeds agreement.
Drafting an assignment of proceeds agreement can be a difficult process, and it is important to choose an experienced attorney who knows all of the issues that may arise from a transaction involving the assignment of proceeds. If you are looking for an experienced New York and New Jersey attorney to handle your assignment of proceeds agreement or other legal issue, please feel free to contact The Rothman Law Firm to request a free consultation.
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