Let’s say Joe has an organic produce delivery service. He delivers fresh fruits and vegetables to his clients every week. Suddenly, his wife gets transferred to a different city. He decides to sell his route to Dave who’s been looking for this type of business. Before Dave takes it over, they need to make it official. They decide to sign an Assignment of Contract to ensure that the agreement is in everyone’s best interest. An Assignment of Contract is useful when someone commits to a contract, and then their situation changes. Now they want to assign the obligations and benefits of that contract to someone else. To cement this deal—and protect both parties and their customers the way Joe and Dave did—an Assignment of Contract should be official. If you find yourself in this type of situation, Quick Law Docs is the perfect place to start.

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Before creating your Assignment of Contract, be sure to think through/research the following:

- Be sure there’s no anti-assignment clause in your contract.

- Check to see what your liability is. Some contracts will not release you from liability until the end of the contract—even if it is assigned to another party.

- Be sure the Assignee isn’t going to alter the product for which your clients originally contracted.

- Make a plan for how customers will be notified.

Source: http://www.quicklawdocs.com/blog/assignment-of-contract/