All Countries
Novation Contract

Novation Contract Template for Singapore

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Novation Contract

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Novation Contract

"Need a Novation Contract under Singapore law to transfer our software development agreement from ABC Tech Pte Ltd to our new subsidiary XYZ Solutions Pte Ltd, with completion targeted for March 2025."

Celebrated by
Collaborations with
Investors
Document background
A Novation Contract is essential when there's a need to transfer all rights and obligations under an existing contract to a new party. Under Singapore law, this document is commonly used in corporate restructuring, business acquisitions, or when project responsibilities need to be transferred. The agreement ensures a clean break for the outgoing party while maintaining contractual continuity for the remaining party. It must comply with Singapore contract law requirements, including the need for consideration and proper execution by all parties.
Suggested Sections

1. Parties: Identification of original contracting party, new party, and continuing party

2. Background: Details of original contract and reason for novation

3. Definitions: Key terms used in the agreement including 'Effective Date' and 'Original Contract'

4. Novation: Core clause effecting the transfer of rights and obligations

5. Release and Discharge: Release of original party from obligations

6. Effective Date: When the novation takes effect

Optional Sections

1. Warranties: Representations about capacity to enter agreement and other assurances needed about parties' authority

2. Costs: Provisions detailing who bears the costs of the novation process

3. Governing Law and Jurisdiction: Specification of choice of law and courts, particularly relevant when international elements exist

Suggested Schedules

1. Original Contract: Copy of the contract being novated

2. Outstanding Obligations: List of remaining obligations under original contract

3. Consent Documents: Any required third-party consents and approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Industries

Singapore Contract Law: Primary legislation (Cap. 53) governing contract formation and enforcement, based on English common law principles including offer, acceptance, consideration, and intention to create legal relations

Misrepresentation Act: Cap. 390 - Governs false statements made during contract formation and provides remedies for misrepresentation in contracts

Civil Law Act: Cap. 43 - Fundamental legislation governing civil matters in Singapore, including aspects of contract law and remedies

Limitation Act: Cap. 163 - Sets time limits for bringing legal claims, relevant for enforcement of contractual rights and obligations

Electronic Transactions Act: Cap. 88 - Governs electronic signatures and digital contracts, relevant if the novation agreement will be executed electronically

Stamp Duties Act: Cap. 312 - Relevant if the novation involves transfer of property or shares that may attract stamp duty

Choice of Court Agreements Act: Relevant for international contracts, governs the enforcement of exclusive choice of court agreements in international cases

Novation Requirements: Common law principles requiring consent of all parties, extinguishment of original contract, creation of new contract, and consideration

Industry-Specific Regulations: Depending on contract subject matter, specific industry regulations may apply (e.g., financial services, telecommunications)

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Tripartite Novation Agreement

find out more

Novation Of Tenancy Agreement

find out more

Novation Contract

find out more

Deed Of Novation

find out more

Assignment And Novation

find out more

Partial Novation Agreement

find out more

Novation Employment Contract

find out more

Letter Of Novation

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.