Deed Of Novation (Construction) Template for New Zealand

1. Intellectual Property: Required when specific IP rights need to be transferred or licensed as part of the novation

2. Subcontractor Arrangements: Include when existing subcontractor relationships need to be addressed

3. Insurance: Required when specific insurance arrangements need to be transferred or new policies established

4. Dispute Resolution: Optional detailed dispute resolution procedures beyond standard provisions

5. Third Party Rights: Include when there are significant third party interests that need to be addressed

6. Step-in Rights: Required when principal or financier step-in rights need to be preserved or modified

1. Schedule 1 - Original Contract: Copy or details of the original construction contract being novated

2. Schedule 2 - Outstanding Works: List of works yet to be completed at the time of novation

3. Schedule 3 - Outstanding Payments: Details of any payments, retentions, or claims outstanding at novation

4. Schedule 4 - Transferred Securities: List of securities, bonds, or guarantees being transferred or replaced

5. Schedule 5 - Conditions Precedent: List of conditions that must be satisfied before novation takes effect

6. Appendix A - Form of Notice to Subcontractors: Template notice informing subcontractors of the novation

7. Appendix B - Transferred Documentation: List of project documents, warranties, and certificates being transferred