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ANNEX 4to the procedureNovation Contract. The Contracting Parties Art. 1The parties to the novation contract (hereinafter referred to as \”the Novation Contract\”) are, on the one hand, Bursa
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How to fill out annex 4 novation contract

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How to fill out annex 4 novation contract

01
Obtain a copy of the annex 4 novation contract form.
02
Fill in the details of the original contract that is being novated.
03
Include the details of the new party that will be taking over the obligations of the original contract.
04
Have all parties involved in the novation sign the contract.
05
Keep a copy of the signed contract for your records.

Who needs annex 4 novation contract?

01
Any party involved in a contract that wants to transfer the rights and obligations to a new party.

What is Annex 4. Novation Contract Form?

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Annex 4 novation contract is a legal document that outlines the transfer of obligations and rights from one party to another in a contract, effectively replacing the original party with a new one.
Entities involved in the novation process, which typically includes the original party, the new party, and the remaining party in the original contract, are required to file the annex 4 novation contract.
To fill out the annex 4 novation contract, the parties involved must provide identification details, the original contract information, the terms of the novation, and obtain signatures from all relevant parties.
The purpose of the annex 4 novation contract is to legally document the transfer of contractual responsibilities and rights from one party to another, ensuring that all parties agree to the changes and that the new party assumes the obligations outlined in the original contract.
Information that must be reported on the annex 4 novation contract includes the parties' names and contact details, the original contract reference, details about the novation, and any modifications to terms and conditions.
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