Assignment Of Payment Agreement Template for South Africa

1. Security Provisions: Include when additional security is provided for the assigned payment

2. Recourse Rights: Include when the Assignee has rights of recourse against the Assignor if payment fails

3. Conditions Precedent: Include when the assignment is subject to fulfillment of certain conditions

4. Anti-Money Laundering Compliance: Include for high-value assignments or when required by FICA

5. Tax Provisions: Include when there are specific tax implications or requirements

6. Confidentiality: Include when sensitive commercial information is involved

7. Further Assurance: Include when additional documentation or actions may be required post-signing

1. Schedule 1 - Payment Details: Detailed breakdown of the payment(s) being assigned including amounts and dates

2. Schedule 2 - Original Agreement Extract: Relevant excerpts from the agreement giving rise to the payment obligation

3. Schedule 3 - Form of Notice to Debtor: Template notice to be sent to the Debtor regarding the assignment

4. Appendix A - Supporting Documents: Copies of relevant supporting documentation (e.g., invoices, purchase orders)

5. Appendix B - Payment Instructions: Bank account details and payment processing instructions

6. Appendix C - Power of Attorney: If required, authorization for Assignee to act on behalf of Assignor