An Assignment Agreement is a legal document that outlines the assignment of rights and responsibilities under an original contract from one party (the assignor) to another (the assignee). It can be drafted whenever the assignor wants the assignee to assume all the contractual obligations and rights.
This type of agreement is popular in construction and real estate. A "Contract Assignment" means that the assignee complies with all the duties established in the original contract and receives benefits that should have gone to the assignor for an assignment fee.
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