assignment notification letter

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Notice of Assignment Template

Document description.

This notice of assignment template has 1 pages and is a MS Word file type listed under our legal agreements documents.

Sample of our notice of assignment template:

OBJECT: NOTICE OF ASSIGNMENT Dear [CONTACT NAME], You are hereby notified that on [DATE] we have assigned and transferred to [SPECIFY] the following [SPECIFY] existing between us: [DESCRIBE] Please direct any further correspondence (or payments, if applicable) to them at the following address: [ADDRESS] Please contact us should you have any questions. Thank you for your cooperation. [YOUR NAME] [YOUR TITLE] [YOUR PHONE NUMBER] [[email protected]] [YOUR COMPANY NAME] [YOUR COMPLETE ADDRESS] Tel: [YOUR PHONE NU

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What is a notice of assignment?

An assignment takes place when one party is holding a right to property, claims, bills, lease, etc., of another party and wishes to pass it along (or sell it) to a third party. As complicated as that sounds, it really isn’t. Strangely enough, many assignments can be made under the law without immediately informing, or obtaining the permission, of the personal obligated to perform under the contract. An example of this is when your mortgage is sold to another mortgage company. The original mortgage company may not inform you for several weeks, and they certainly aren’t going to ask your permission to make the sale.

If a person obligated to perform has received notice of the assignment and still insists on paying the initial assignor, the person will still be obligated to pay the new assignee according to the agreement. If the obligated party has not yet been informed of the assignment and pays the original note holder (assignor), the assignor is obligated to turn those funds over to the new assignee. But, what are the remedies if this doesn’t take place? Actually, the new assignee may find themselves in a difficult position if the assignor simply takes off with their funds or payment. They are limited to taking action against the person they bought the note from (assignor) and cannot hold the obligator liable. Therefore, it is important to remember that if any note or obligation is assigned to another party, each party should be well aware of their responsibilities in the transaction and uphold them according to the laws of their state. Assignment forms should be well thought out and written in a manner which prevents the failure of one party against another.

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Sample Notice-of Assignment Letter

From: [Your Name, & Address here]

[Recipient Name & address here]

[Date here]

Dear [name], You are hereby notified that on [date of Assignment], we allocated and shifted our interest in the matter mention below to [Assignee name].

This assignment involves –

–         [Describe in brief what has been assigned] – You are requested to send any future notices, payments or queries regarding this matter to [Assignee name] at [address of Assignee].

[Your name]

Encl: [Enclosures List here]

  Download Sample Notice-of Assignment Letter In Word Format

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Legal Templates

Home Assignment Agreement

Assignment Agreement Template

Use our assignment agreement to transfer contractual obligations.

Updated February 1, 2024 Written by Josh Sainsbury | Reviewed by Brooke Davis

An assignment agreement is a legal document that transfers rights, responsibilities, and benefits from one party (the “assignor”) to another (the “assignee”). You can use it to reassign debt, real estate, intellectual property, leases, insurance policies, and government contracts.

What Is an Assignment Agreement?

What to include in an assignment agreement, how to assign a contract, how to write an assignment agreement, assignment agreement sample.

Partnership Interest

An assignment agreement effectively transfers the rights and obligations of a person or entity under an initial contract to another. The original party is the assignor, and the assignee takes on the contract’s duties and benefits.

It’s often a requirement to let the other party in the original deal know the contract is being transferred. It’s essential to create this form thoughtfully, as a poorly written assignment agreement may leave the assignor obligated to certain aspects of the deal.

The most common use of an assignment agreement occurs when the assignor no longer can or wants to continue with a contract. Instead of leaving the initial party or breaking the agreement, the assignor can transfer the contract to another individual or entity.

For example, imagine a small residential trash collection service plans to close its operations. Before it closes, the business brokers a deal to send its accounts to a curbside pickup company providing similar services. After notifying account holders, the latter company continues the service while receiving payment.

Create a thorough assignment agreement by including the following information:

• Effective Date:  The document must indicate when the transfer of rights and obligations occurs.
• Parties:  Include the full name and address of the assignor, assignee, and obligor (if required).
• Assignment:  Provide details that identify the original contract being assigned.
• Third-Party Approval: If the initial contract requires the approval of the obligor, note the date the approval was received.
• Signatures:  Both parties must sign and date the printed assignment contract template once completed. If a notary is required, wait until you are in the presence of the official and present identification before signing. Failure to do so may result in having to redo the assignment contract.

Review the Contract Terms

Carefully review the terms of the existing contract. Some contracts may have specific provisions regarding assignment. Check for any restrictions or requirements related to assigning the contract.

Check for Anti-Assignment Clauses

Some contracts include anti-assignment clauses that prohibit or restrict the ability to assign the contract without the consent of the other party. If there’s such a clause, you may need the consent of the original parties to proceed.

Determine Assignability

Ensure that the contract is assignable. Some contracts, especially those involving personal services or unique skills, may not be assignable without the other party’s agreement.

Get Consent from the Other Party (if Required)

If the contract includes an anti-assignment clause or requires consent for assignment, seek written consent from the other party. This can often be done through a formal amendment to the contract.

Prepare an Assignment Agreement

Draft an assignment agreement that clearly outlines the transfer of rights and obligations from the assignor (the party assigning the contract) to the assignee (the party receiving the assignment). Include details such as the names of the parties, the effective date of the assignment, and the specific rights and obligations being transferred.

Include Original Contract Information

Attach a copy of the original contract or reference its key terms in the assignment agreement. This helps in clearly identifying the contract being assigned.

Execution of the Assignment Agreement

Both the assignor and assignee should sign the assignment agreement. Signatures should be notarized if required by the contract or local laws.

Notice to the Other Party

Provide notice of the assignment to the non-assigning party. This can be done formally through a letter or as specified in the contract.

File the Assignment

File the assignment agreement with the appropriate parties or entities as required. This may include filing with the original contracting party or relevant government authorities.

Communicate with Third Parties

Inform any relevant third parties, such as suppliers, customers, or service providers, about the assignment to ensure a smooth transition.

Keep Copies for Records

Keep copies of the assignment agreement, original contract, and any related communications for your records.

Here’s a list of steps on how to write an assignment agreement:

Step 1 – List the Assignor’s and Assignee’s Details

List all of the pertinent information regarding the parties involved in the transfer. This information includes their full names, addresses, phone numbers, and other relevant contact information.

This step clarifies who’s transferring the initial contract and who will take on its responsibilities.

Step 2 – Provide Original Contract Information

Describing and identifying the contract that is effectively being reassigned is essential. This step avoids any confusion after the transfer has been completed.

Step 3 – State the Consideration

Provide accurate information regarding the amount the assignee pays to assume the contract. This figure should include taxes and any relevant peripheral expenses. If the assignee will pay the consideration over a period, indicate the method and installments.

Step 4 – Provide Any Terms and Conditions

The terms and conditions of any agreement are crucial to a smooth transaction. You must cover issues such as dispute resolution, governing law, obligor approval, and any relevant clauses.

Step 5 – Obtain Signatures

Both parties must sign the agreement to ensure it is legally binding and that they have read and understood the contract. If a notary is required, wait to sign off in their presence.

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Notice of Assignment | Practical Law

Notice of Assignment

Practical law standard document 2-508-6945  (approx. 11 pages).

Assignments: why you need to serve a notice of assignment

Catherine phillips.

PSL Principal Associate

It's the day of completion; security is taken, assignments are completed and funds move. Everyone breathes a sigh of relief. At this point, no-one wants to create unnecessary paperwork - not even the lawyers! Notices of assignment are, in some circumstances, optional. However, in other transactions they could be crucial to a lender's enforcement strategy. In the article below, we have given you the facts you need to consider when deciding whether or not you need to serve notice of assignment.

What issues are there with serving notice of assignment?

Assignments are useful tools for adding flexibility to banking transactions. They enable the transfer of one party's rights under a contract to a new party (for example, the right to receive an income stream or a debt) and allow security to be taken over intangible assets which might be unsuitable targets for a fixed charge. A lender's security net will often include assignments over contracts (such as insurance or material contracts), intellectual property rights, investments or receivables.

An assignment can be a legal assignment or an equitable assignment. If a legal assignment is required, the assignment must comply with a set of formalities set out in s136 of the Law of Property Act 1925, which include the requirement to give notice to the contract counterparty.

The main difference between legal and equitable assignments (other than the formalities required to create them) is that with a legal assignment, the assignee can usually bring an action against the contract counterparty in its own name following assignment. However, with an equitable assignment, the assignee will usually be required to join in proceedings with the assignor (unless the assignee has been granted specific powers to circumvent that). That may be problematic if the assignor is no longer available or interested in participating.

Why should we serve a notice of assignment?

The legal status of the assignment may affect the credit scoring that can be given to a particular class of assets. It may also affect a lender's ability to effect part of its exit strategy if that strategy requires the lender to be able to deal directly with the contract counterparty.

The case of General Nutrition Investment Company (GNIC) v Holland and Barrett International Ltd and another (H&B) provides an example of an equitable assignee being unable to deal directly with a contract counterparty as a result of a failure to provide a notice of assignment.

The case concerned the assignment of a trade mark licence to GNIC . The other party to the licence agreement was H&B. H&B had not received notice of the assignment. GNIC tried to terminate the licence agreement for breach by serving a notice of termination. H&B disputed the termination. By this point in time the original licensor had been dissolved and so was unable to assist.

At a hearing of preliminary issues, the High Court held that the notices of termination served by GNIC , as an equitable assignee, were invalid, because no notice of the assignment had been given to the licensee. Although only a High Court decision, this follows a Court of Appeal decision in the Warner Bros Records Inc v Rollgreen Ltd case, which was decided in the context of the attempt to exercise an option.

In both cases, an equitable assignee attempted to exercise a contractual right that would change the contractual relationship between the parties (i.e. by terminating the contractual relationship or exercising an option to extend the term of a licence). The judge in GNIC felt that "in each case, the counterparty (the recipient of the relevant notice) is entitled to see that the potential change in his contractual position is brought about by a person who is entitled, and whom he can see to be entitled, to bring about that change".

In a security context, this could hamper the ability of a lender to maximise the value of the secured assets but yet is a constraint that, in most transactions, could be easily avoided.

Why not serve notice?

Sometimes it's just not necessary or desirable. For example:

• If security is being taken over a large number of low value receivables or contracts, the time and cost involved in giving notice may be disproportionate to the additional value gained by obtaining a legal rather than an equitable assignment.
• If enforcement action were required, the equitable assignee typically has the option to join in the assignor to any proceedings (if it could not be waived by the court) and provision could be made in the assignment deed for the assignor to assist in such situations. Powers of attorney are also typically granted so that a lender can bring an action in the assignor's name.
• Enforcement is often not considered to be a significant issue given that the vast majority of assignees will never need to bring claims against the contract counterparty.

Care should however, be taken in all circumstances where the underlying contract contains a ban on assignment, as the contract counterparty would not have to recognise an assignment that is made in contravention of that ban. Furthermore, that contravention in itself may trigger termination and/or other rights in the assigned contract, that could affect the value of any underlying security.

What about acknowledgements of notices?

A simple acknowledgement of service of notice is simply evidence of the notice having been received. However, these documents often contain commitments or assurances by the contract counterparty which increase their value to the assignee.

Best practice for serving notice of assignment

Each transaction is different and the weighting given to each element of the security package will depend upon the nature of the debt and the borrower's business. The service of a notice of assignment may be a necessity or an optional extra. In each case, the question of whether to serve notice is best considered with your advisers at the start of a transaction to allow time for the lender's priorities to be highlighted to the borrowers and captured within the documents.

For further advice on serving notice of assignment please contact Kirsty Barnes or Catherine Phillips  from our Banking & Finance team.

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.

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Notice of Assignment

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NOTICE OF ASSIGNMENT

Date: ___________________ To: Dear You are hereby notified that on ____________________ , 20 ______ , we have assigned and transferred to _________________________________ the following ________________ existing between us: Please direct any further correspondence (or payments, if applicable) to them at the following address:

_______________________________________ _______________________________________ _______________________________________

Please contact us should you have any questions, and we thank you for your cooperation. Very truly, ____________________________________  

Other Forms You May Need

• General Assignment
• Assignment of Contract
• Assignment of Assets

Notice of Assignment Template

Download this Notice of Assignment Template Design in Word, Google Docs, Apple Pages Format. Easily Editable, Printable, Downloadable.

In every transaction, it’s important that all parties involved are aware of any transfer of rights or ownership. To properly and formally inform a business partner regarding a transfer of rights, download and make use of our premium Notice of Assignment template. When you enter a business agreement, it’s essential to make a legally compliant written document to make sure it’s legally binding. It can also protect the rights of every party involved. Have the freedom to modify its content to fit your business needs. Don’t pass up this amazing opportunity and experience convenience now with this versatile template!

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Written Business Communication

Notification Letter Samples | Writing Guide

A notification letter serves as a formal means of conveying information, updates, or decisions in the business world. It is a versatile tool used in a wide range of scenarios, from employment notifications to legal matters and beyond.

In this  article, we will explore what notification letters are, their significance, and how to compose them professionally and effectively.

Understanding the Purpose of Notification Letters

Notification letters have a clear purpose – to inform the recipient about a specific event, decision, or situation. They play a crucial role in maintaining transparency and open communication within an organization. Common purposes of notification letters include:

• Employment Notifications: Informing candidates about their job offer, promotions, or terminations.
• Legal Notices: Notifying individuals or businesses about legal actions or obligations.
• Policy Updates: Communicating changes in company policies, procedures, or terms.
• Meeting Reminders: Sending out reminders about important meetings, conferences, or appointments.

We usually write a notification letter to formally inform our employees, colleagues, clients and other business connection we might have.

Structure of a Notification Letter

Buy 119+ Effective Business Letter Samples here.

A well-structured notification letter ensures that the message is clear and comprehensible. Here is a standard structure to follow:

A. Header: Include your company’s letterhead or personal contact information, including the sender’s name, address, and contact details.

B. Date: The date of the letter’s creation.

C. Recipient’s Information: The name, title, organization, and address of the recipient.

D. Salutation: A polite and appropriate greeting to the recipient.

E. Opening Paragraph: Start by stating the purpose of the letter and providing a brief introduction.

F. Main Body: Elaborate on the details of the notification. Be concise and provide all necessary information.

G. Closing Paragraph: Conclude the letter with a courteous tone and express your willingness to address any questions or concerns.

H. Signature: Sign the letter with your name, possibly with your title, and add a space for your physical signature.

I. Enclosures: If there are any documents or attachments, list them here.

Tips for Writing Effective Notification Letters

• Clarity is Key: Ensure that the message is clear and easily understood. Avoid jargon or overly complex language.
• Be Professional: Maintain a formal and respectful tone throughout the letter.
• Address the Recipient Correctly: Use the recipient’s name and title where applicable.
• Provide Contact Information: Include contact details for further questions or clarification.
• Proofread: Check for grammar and spelling errors to maintain professionalism.

Notification Letter Samples to Employees

The following notification letter is good to inform your employees about a special job that has to be done by a lot of employees from different departments or divisions.

Download the Notification Letter here.

The Publication  Manager  is  expected  to  plan, coordinate,  and   supervise   the  design  and development of sales brochures, advertisements, and customer  manual  required  to  support   the  sale, installation, and maintenance of  company products and services. In connection with that,  I hope  all  employees give brilliant ideas to design brochures  which  could attract new customers to take our products.  Therefore, we can increase our sales.The design has to be  sent to  the General   Manager on October 5th, 2020.  Every  department is pleased to send more than one design. After all of the designs are collected, we will choose the best ones.

Adapted from Multipurpose Letter

Payment Notification Letter Samples to Clients

This letter is written to formally inform our clients about the payment they have just made.  This letter can be a preliminary proof of payment to initiate the receipt. See if it can be used in your company.

12 Golden Gate Road, San Francisco, USA 99999

Dear Mr. Brown,

Thank you for the payment you made today. Your  payment number is SSS-22233-HHH which is issued on November 15, 2022.

Herewith we notify you that your order has been activated. Further information will be sent to you via the next email.

See the following information regarding your payment:

Receipt Number: **BBB555565**

Amount : US $ 1,200

Issued : 15 November

Employee Transfer Notification Letter

As an owner or a human resources manager, you can use this letter  when you inform your  employee who is being transferred to a different department or location.

Dear [Employee’s Name],

I hope this message finds you well. We are writing to inform you of an important change in your employment status with [Company Name]. As the HR Manager, I would like to notify you of your upcoming transfer to a new department within the organization.

Effective [Transfer Date], you will be joining the [New Department] team. This transfer is in line with our ongoing efforts to optimize our workforce and ensure that each employee’s skills and expertise are utilized to their full potential.

We believe that your experience and knowledge will be a valuable addition to the [New Department], and we are confident that you will excel in your new role. Your reporting structure and working conditions will remain largely unchanged, and your new supervisor will be [Supervisor’s Name].

If you have any questions or require further information regarding this transfer, please do not hesitate to reach out to me or the HR department.

We appreciate your dedication to [Company Name] and look forward to your continued contributions in your new role.

[Your Name] HR Manager [Company Name]

To Remember

Notification letters are vital tools in business communication, ensuring that important information is conveyed accurately and professionally. By understanding their purpose, following a proper structure, and implementing best practices, you can create notification letters that are both effective and respectful. Whether you are notifying employees, clients, or partners, mastering the art of notification letters will enhance your written business communication skills.

I hope you find this blog post helpful in your quest to provide essential business communication tools. If you have any additional questions or need more information on this topic, feel free to reach out.

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• Sample Letters

FREE 9+ Sample Assignment Letter Templates in PDF | MS Word

An assignment letter is a document that is used mostly in situations such as business bankruptcy and insolvency. It is a legal document which can be presented in courts when handling different cases. Examples of scenarios whereby this paper comes in are when a business owner is assigning a portion of his or her assets to a trustee for selling purposes and also when assigning specific rights to another person such as collecting payment on your behalf.

Assignment Letter

Sample personal business letter - 9+ documents in pdf, word, sample thank you letter to boss - 22+ free documents download ..., sample trademark assignment form - 7+ examples in pdf.

Our assignment templates get designed in the best way possible to usher you properly when creating one. An assignment letter template may also be said to be a Professional Letter of assignment or an assignment letter sample.

Salary Assignment Letter

Size: 130 KB

The top of the page should have the name of the person or the entity issuing the letter together with their personal information such as the telephone number, email address, and the postal address. Below that it should indicate that it is a letter of assignment to give the form an identity. Next should be the full names of the people or entity in the agreement alongside their personal information.

After that, mention the duration of the assignment and the location of where the deal takes place. The body of the document should be concluded by listing all the details of the money that they parties will be handling. Finally, the parties involved should sign the paper to seal the agreement.

Appraisal Assignment Letter

Size: 38 KB

The top of the form should read that the document is an appraisal assignment letter for easier identification. The name plus the postal address of the person or company issuing the appraisals should be listed next. After that, a declaration statement mentioning the names of the parties involved in the agreement should be put down saying who has assigned rights to the other.

The agreement should always comply with the standards set by law. Other acknowledgments that each party is supposed to heed to should also get listed in this document. The model should conclude by stating the period when the agreement will be active.

Voided Assignment Letter

Size: 37 KB

The top of the model should read that it is a voided assignment letter for quick identification of the form. After that, on the left, the name of the person of corporate who is going to receive the document is listed together with other personal information such as a postal address and an email address.

The right should have the date of when the paper gets published. Finally, the reasons as to why there is a voided assignment letter must be on it and signatures of the parties involved should also be given to show that they agree with the stated reasons.

Incentive Assignment Letter

Size: 42 KB

The name of the company issuing the letter should be the first thing on the document and the date below that. Next should be the name and personal details of the person or entity meant to receive it. The incentive assignment should be listed giving all crucial information about it and contacts which the receiver can contact for further negotiations. Finally, it concludes with a short formal message to the receiver.

Professional Assignment Letter

Size: 355 KB

Buddy Assignment Letter

Size: 155 KB

Friendly Assignment Letter

Size: 31 KB

Sample Assignment Letter

Size: 137 KB

Assignment Letter from Trainee

Volunteer Assignment Letter

Size: 52 KB

What are the Advantages of Having our Assignment Letter Templates?

One may lack sufficient knowledge on what to include when forming this document; therefore, the main benefit of having our template is that it gives you the proper guidance on which information to include in your paper and an order of how to put it down.

Another advantage is that our templates are files which you can save on you PC; thus, you can make references from the file again in future when forming assignment letters. Finally, our templates are always designed to help you create one as per the standard legal requirements. You may also see  Sample Personal Letters

How Have We Made our Assignment Letter Templates the Best for you?

Our models get worked on by the experts whom we have interviewed thoroughly and proven that they are talented. We also ensure that they have sufficient experience in the field for our templates to be as effective for you as possible. Another way we have made our templates the best for you is by making them editable such that you can do any modifications you prefer on them. Finally, they are printable for you to be able to make as many copies as you want. You may also see  Friendly Letters

Which are the Most Crucial Aspects that I Should Entail in my Assignment Letter?

Always list the name of parties in the agreement and also sufficient personal information about them. Never forget to indicate the date you publish the model and the period of how long the contract will be valid. Ensure that both parties agree on what gets stated on the Professional Letters then seal the deal with signatures of each. Finally, since it is a legal document, always ensure that your agreement complies with the provisions of the law to avoid awful penalties.

We ensure that we meet the requirements of all our customers according to their needs. Those that would want a fully customed model can always communicate to us so that we can direct you to our experts to help them understand what kind of make you want. We have customer care agents that are always available to tend to all the inquiries you may have and the consultations you may need. Consider acquiring our accessible and affordable assignment letter template today, to guide you while creating the document you need.

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Notice of Assignment

Practical law standard document 2-508-6945  (approx. 11 pages), get full access to this document with a free trial.

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What is a Notice of Assignment?

• Ultimate Invoice Factoring Guide
• What is a Notice of…

A factoring contract can contain many parts, but few are as important as the Notice of Assignment.

What are the parts of a notice of assignment.

A notice of assignment contains a few standard parts. First, it informs your customers that you are factoring your invoices and that your factoring company has been assigned as the payee for your accounts receivables. Next, a notice of assignment provides your customer with an updated remittance address for all current and future payments to be sent to. Third, it contains explicit instructions that all payments should be made to the factoring company’s remittance address only, and that no other payments should be made to any other address without explicit permission from the factoring company. It also contains verbiage that states that payments made in conflict to this notice of assignment will not be considered to have discharged a customer’s obligation for payment to the factoring company. Lastly, the factoring client signs the notice of assignment to prove it is valid.

Why do my customers need to know that I’m factoring?

The right to receive payments for amounts owed is one of the main protections a factoring company has in the factoring process. It is an essential part of almost every factoring program. In order to assure that payments are directed appropriately, a factoring company must contact a customer to verify that the notice of assignment has been accepted and the remittance address has been updated.

Why does my factoring company receive payments for invoices that weren’t factored?

A notice of assignment gives your factoring company the right to collect for ALL payments owed to you by your customer. Some factoring companies require that you factor every invoice for your customers, making this a non-issue. However, if you are working with a factoring company that allows you to pick and choose which invoices to factor for a customer, your factoring company will also receive payments for those unfactored invoices.

This happens for two reasons. First, allowing multiple remittance addresses for a payee exponentially increases the chance of a misdirected payment being made. Second, asking the customer to shoulder the additional workload of keeping track of which payments should be made to which remittance address would make invoice factoring unattractive for many customers, and thus limit the number of companies willing to work with a business that was factoring. All factoring companies have policies to efficiently deal with unfactored payments when they arrive.

What happens if I receive a payment that should have been sent to my factoring company?

Most factoring companies understand that accidents happen, and mistakes will be made. If an error in payment occurs in good faith, factoring companies have processes in place to deal with the issue. Firstly, it is important that a factoring client does not deposit the payment into their account, but rather they should immediately notify their factoring company of the errant payment and send it immediately to their factoring company. If a factoring client fails to do so, or attempts to hide the payment from their factoring company, then that client will be responsible for a misdirected payment, which often carries heavy penalties in the factoring contract.

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What is a Notice of Assignment?

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When you enter a factoring contract, you agree to sell your invoices, or accounts receivable, to a factoring company or third party that gives you a cash advance. This third party will then become your company’s collection department on these invoices. To notify your clients of this change of invoice ownership, the financial provider will send them a Notice of Assignment (NOA).

If you’re considering factoring your accounts receivable, you may be wondering what an NOA contains and what effects it may have on your customers and business. In this guide, we’ll cover the components of an NOA, how your factoring company sends them, and their role in the factoring process.

What is a NOA in Factoring?

A notice of assignment is a simple letter from a third party to your customers. It legally explains that a change of invoice ownership has occurred, informing your clients that a third party (bank, factoring company, financing company) will now manage and collect accounts receivable. The NOA will provide a remittance address so customers can update their payment information. The purpose of this communication is to notify your customers of a change in the collection process.

What Is a Notice of Assignment?

Understand how implementing a Notice of Assignment with Porter Capital’s factoring services can fast-track your receivables!

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How Do Factoring Companies Notify Your Customers?

Factoring is more common than ever and clients range from NYC modeling agencies and namesake branded product line manufacturers, to small startup companies selling gourmet food items. No company is too large or too small to factor their invoices and many work with big box stores that demand longer payment terms to have products on their shelves. These 90 to 120 day payment terms can make factoring a necessity for smooth cash flow.

Your customers will receive the NOA as a letter in the mail to sign and return. Your business will also receive a copy of this letter. Ensure you fully understand the language used in the NOA and your responsibilities in the transition process. Sometimes business owners worry about their customers’ reactions to receiving an NOA. Invoice factoring is becoming an increasingly popular and acceptable means for financing businesses across many industries, so your customers may already be accustomed to the process. You can alert your clients about a coming NOA, proactively resolving any questions or concerns that may arise.

Why Is a NOA in Factoring Important?

When you enter a factoring contract, you agree to sell the intangible financial rights to your invoices and receive cash up front for those invoices. Because the rights are intangible, factoring companies need legal language that outlines ownership of the AR. Once the NOA is completed, a business receives the cash advance while the factor waits for invoice payments. The NOA is a critical part of the financial relationship and protects the financing provider in the event of misdirected payments. An NOA ensures all parties are aware of their responsibilities throughout the factoring process so everyone can enjoy the benefits.

Components of a NOA Document

The NOA document will contain a few vital pieces of information, including:

• Notification that accounts receivable have been assigned and is payable to a third party
• An updated payment address.
• An explanation of customer liability in the event of a misdirected payment.

Each component of the NOA ensures the factoring relationship runs smoothly by giving customers the information they need to make correct payments. It may also outline steps for your company to take if you receive a misdirected payment.

Contact Porter Capital for a Factoring Quote

When you need to improve your cash flow, consider invoice factoring with Porter Capital. With over 30 years in the business, we can offer you and your customers the reliable and trustworthy services you expect and deserve. We will help you find the best solutions for your specific business demands, enabling you to enjoy greater stability and flexibility.

Work with a trusted factoring company to expand your business, get ahead of the competition and increase customer satisfaction. Contact us online today to receive a quote for our factoring services.

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Learn About Notice of Assignment for Invoice Factoring

In a  factoring  relationship, you agree to assign your selected receivables to the factoring company. By advancing your  cash  against your invoices, the factor has purchased the right to collect amounts due from your customers. The Notice of Assignment is a critical part of your factoring paperwork as it reflects the change in invoice ownership.

What is a Notice of Assignment?

The Notice of Assignment is a simple letter the factoring company sends to your customers whose invoices you are factoring. In writing, the notice informs your customers that the accounts receivable is assigned, and future payments should be made payable to the factoring company. The notice will also include a remittance address so your customer can change their payment information.

The Notice of Assignment legally explains to your customers that any payments they make to you instead of the factor will not satisfy their obligation. The factoring company may hold your customers liable for misdirected amounts. This may occur if your customers choose to ignore the notice or fail to update payment information.

Many factors will require your customers to sign and return a copy of the notice to acknowledge receipt. This is not always required, though. Instead, the Notice of Assignment may include language that considers your customer’s continued use of your services to constitute an agreement to the notice. In addition, the factor may only revoke a Notice of Assignment if they send a signed and notarized release notification to your customers. They will do so if you choose not to factor that account any longer or you end your factoring relationship. In either case, the account must have no outstanding balance.

What Programs Don’t Use a Notice of Assignment?

Financing programs that do not use a notice of assignment include non-notification factoring and sales ledger financing.

Non-notification factoring is similar to regular factoring, but with a few key differences. Instead of sending a conventional Notice of Assignment to customers, the factoring company informs them of a new payment address using the company’s regular letterhead. This allows the customer to still send payments to the new address without being aware that it belongs to the factor. To qualify for non-notification factoring, companies typically need to have monthly revenues of at least $300,000, a track record of over a year, reliable financial reports, and no serious financial difficulties.

Sales ledger financing operates like a line of credit based on outstanding receivables. Companies can access up to 90% of their outstanding receivables at any given time without the need to submit a factoring schedule of accounts for each transaction. Although the finance company still handles payments, the customer does not receive a Notice of Assignment. Instead, they receive a letter indicating a change in the payment address. Sales ledger financing offers greater flexibility compared to non-notification factoring, with daily rates allowing for better cost control. The qualification requirements for sales ledger financing usually include monthly revenues of at least $300,000, a track record of 1-2 years, reliable financial reports, good receivables management systems, and no serious financial difficulties.

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Why do Factoring Companies Notify Your Customers?

The Notice of Assignment is a vital form of protection for a factoring company. It protects the factor in case the  business owner  (the factor’s client) receives the payment instead of the factoring company.

In a best-case scenario, the notice serves to inform every party in a factoring transaction of their rights and responsibilities. It also gives your customer the appropriate address to make account payments, allowing your factoring relationship to continue smoothly.

In a worst-case scenario, a factor can recover unpaid amounts from your customer should they continuously pay over notice or not pay at all. A Notice of Assignment is evidence in any legal proceeding — from a demand letter for payment to a full-fledged lawsuit — that asserts the factor’s standing and rights to payment.

What Will Your Customers Think?

Customers may have concerns or questions when they receive a letter regarding the use of invoice factoring. It’s understandable that they may be unsure or unfamiliar with this financing tool. As a business owner, it’s important to address these concerns and communicate with your customers effectively.

First and foremost, it’s essential to acknowledge that invoice factoring is a common practice utilized by many small and midsize companies to finance their operations and facilitate growth. Chances are, your customers are already aware of this financing method and how it works.

When discussing invoice factoring with your customers, emphasize the benefits it provides to them. By using factoring, you can offer them extended payment terms, such as 30- to 60-day terms, while still ensuring excellent service. This enables your customers to utilize their available cash resources more effectively. Without factoring, providing extended payment terms might be challenging, especially for businesses experiencing growth.

It’s crucial to assure your customers that little is changing in terms of the services and support your company provides. Reassure them that they will still have the same level of communication and engagement with you and your employees as before. Highlight that despite factoring being implemented, your commitment to their satisfaction remains unchanged.

Address the misconception that factoring indicates financial trouble within your company. Remind your customers that factoring is a versatile tool used to achieve various goals and objectives, just like other forms of financing such as loans or lines of credit. Factoring simply serves to smooth out your cash flow and support your business’s overall financial stability and growth.

Overall, open communication with your customers is key. Provide them with transparency and reassurance, explaining the benefits of factoring and emphasizing that it is a common and established financing practice. By effectively addressing their concerns, you can foster trust and maintain strong relationships with your valued customers.

Why a Notice of Assignment Matters To You

You will receive a copy of the Notice of Assignment that the factor sends to your customers. While the notice is to inform your customers, it also has an important implication for you as well.

As your  factoring agreement  explains, payments your company receives from your customers over notice are payable to the factoring company. Even in the smoothest transition, you may receive payments sent before receipt of the notice or released before your customers’ updated their payment system. There will likely be a provision explaining the procedure for sending misdirected payments to the factor in these cases. Misdirected payments are usually sent by overnight check or via bank transfer.

However, you may be responsible for additional penalties and fees if your customers continue to pay over notice, and you deposit those payments into your account. In addition, you may end up owing more, depending on fee structure, due to the extra time it takes for the factor to receive payment. Some factors include a misdirected payment fee in the  factoring agreement  that you will have to pay if you fail to return misdirected payments to the factor. Therefore, fees may be higher if you are responsible for the misdirection.

As with any legal document, be sure to be fully aware of the language used within the Notice of Assignment. Be mindful of your customers’ responsiveness to the notice. Take action immediately if you realize that any of your customers are not sending their payments on time. This transparency solidifies your factoring relationship, builds trust with your factor, and protects your interests.

What if the Payment is for an Invoice I Didn’t Factor?

When you assign your customers’ receivables to your factoring company, you agree to direct all payments to the factor, even for invoices that you did not factor. This eliminates complications for all parties and ensures that the factoring company receives every payment they should. Without an all-inclusive assignment, your customers would receive a notification every single time you factor an invoice. They would have to retain two addresses on file, increasing the likelihood of misdirected payments.

Your factoring company will have a straightforward procedure in place to address non-factored payments. This may include applying those payments to open invoices and sending you the difference or the total amount in a regularly scheduled reserve release. Stay prepared by asking your factor about their policies surrounding non-factored payments.

Factor Finders can help you find the right factoring company  for your  invoice factoring  needs.  Contact us  to learn more about our factoring services for every industry and to get started today.

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How to write a leave request email (with examples)

You’ve been saving up your annual leave days and you’re ready to take off on that long-awaited holiday. Or maybe you’re having a baby and you’re planning some parental time off. Before you do anything else, there’s one important thing to cross off your to-do list: put in your request for a leave of absence. 

It might sound simple enough, but the way you request your leave can have a big impact on how your employer perceives the request and responds to it. A well-written leave application email submitted with plenty of advance notice is a reflecion of your professionalism and your respect for your employer and colleagues. 

Learn the correct format and content to include in your leave request, to make sure it is clear and appropriately detailed. Read our sample letters and templates, tailored to different types of leave requests, and use them as a practical reference to help you draft your own. Get ready to write a leave letter to an employer that ticks all the boxes for professional courtesy.

What is a request for leave email?

A request for leave email is an email you send your manager asking to take time off from work. It outlines your need to be absent from duties for a specific period and should clearly state the reason for your leave, the dates you plan to be away and, depending on the type of role you have, how you might manage work responsibilities during this time. 

Australian employees get minimum entitlements for different types of paid leave:

• Annual leave: used for any type of leisure time off. Annual leave is usually planned and scheduled weeks or months in advance.
• Sick leave: for when you’re not well enough to perform your duties. Sick leave is unplanned and may require a doctor's note, depending on your employer's policy. Mental health days fall under sick leave, as does carer’s leave, when you need to take care of a sick family member.
• Compassionate leave:  or bereavement leave is to take time off after the death of a loved one.
• Parental leave:  paid and unpaid parental leave when having a baby or adopting a child under 16. 
• Long-service leave: an extended period of time off for employees who have been with the same company for seven to 10 years.
• Community service leave:  for jury duty or an emergency management activity. 
• Family and domestic violence leave:  to attend to matters related to family and domestic violence.

How to write a request for leave email

Before you confirm any personal plans, it’s best to wait until your leave is approved. Writing a polite request for leave email is a handy professional skill to have. Here are the steps to take when writing an email to request leave:

• Start your email by addressing it to the appropriate person. This is usually your direct supervisor or the HR department, depending on your company's policies. Use a polite greeting such as "Dear [Manager's Name]" or "Hello [HR Department's Name]" .
• Clearly state the purpose of your email at the beginning. Specify the type of leave you are requesting (annual, sick, carer’s, etc.) and the exact dates of your planned absence.
• If your leave requires documentation, such as a doctor's note for sick or medical leave, mention that you have attached this to the email. 
• You may opt to include some assurance in your email that you will finalise any major projects before your leave, or hand over important tasks to a colleague. Whether you include this is dependent on your workplace culture and your role at the company.  
• End your email with a professional closing, such as "Best regards" or "Sincerely," followed by your name. 
• Before sending the email, take a moment to proofread it for any spelling or grammatical errors . 

Remember to keep a polite tone and state your request concisely to minimise the potential for misunderstandings.

Tips for writing an email requesting leave

Writing a successful email to request leave requires more than just stating your need for time off. Here are some tips to help you out.

Understand the deadlines and procedures for proper submission

Before drafting your email, refer to your company's leave policies. Check the deadlines for submitting leave requests, especially for planned absences like annual leave, when you likely have to provide a certain amount of advance notice. If your request comes too late, it may not be approved. 

Following organisation-specific guidelines

Different organisations have different guidelines for requesting leave. You might have to use a particular format for your leave email or you may have to submit a leave request through a portal like Workday. Familiarise yourself with your company’s guidelines, so that your request has the best chances of being approved.

Customise your email

Tailor your email to reflect the specific type of leave you are requesting. For instance, a sick leave request is usually more urgent and requires less detail about the absence. A parental leave request email will need more detail around paid and unpaid leave. A request for annual leave might need to be submitted months in advance if it’s around the time of a major seasonal holiday.

Maintain a polite and professional tone

Even if the reason for your leave is personal, maintain a polite and professional tone. Be honest about your reason for taking leave, but limit how much personal information you share, keeping details relevant and appropriate.

Address potential concerns 

While you are fully entitled to your allotted days off, if you’re taking a long period of annual leave, try to mitigate coworker stress by anticipating any potential concerns your absence might cause and addressing them in your email. This could involve offering to provide handover notes for your key responsibilities or committing to finalise major jobs before you leave.  

Request for leave application format

When you need to write a letter of leave from work, using a well-organised and easy-to-read format is essential. This ensures that you include all necessary information and present your request in a way that is easy for your employer to reference in future. Below is a template for a leave letter that can be adapted to various types of leave requests.

Subject: [Type of leave] request 

Dear [Manager’s/Supervisor's name],

I am writing to request [type of leave, e.g., annual, sick, personal, carer’s] leave from [start date] to [end date]. 

[In the second sentence you may provide a small amount of detail, if you feel it is necessary.]

I will ensure that all my current tasks are up to date before my leave begins and will provide handover notes for my duties. [Optional] I have attached [any necessary documentation, e.g., medical certificate, if applicable] to this email for your reference.

Please let me know if there are any concerns or if further information is required.

[Your full name]

[Your position]

[Your contact information]

Request for leave letter example

While the above example is a generic letter that can be tailored to any type of leave, here are more specific examples for a leave request letter you can use for inspiration for your own email.

Personal leave request example

Subject: Personal leave request 

Dear Chris,

I am writing to request compassionate leave from 14 March to 15 March due to a death in the family. [Colleague’s name] will take care of my most urgent projects while I’m away. I have also prepared notes and instructions to assist the team.

I appreciate your understanding and support during this time.

Sick leave request example

Subject: Sick leave notification 

I’m writing to let you know that I will be taking a sick day today due to illness [11/10/24]. I anticipate being able to return to work tomorrow, but will confirm early tomorrow morning. 

Annual leave request email example

Subject: Annual leave request 

I would like to request annual leave from 23/6 to 1/8 for an overseas holiday.  

I will ensure that all my major projects for the month are complete before I leave, and will provide notes for the team to refer to during my absence. 

Carer's leave sample letter

Subject: Carer’s Leave Request 

I am writing to inform you that unfortunately an immediate family member is unwell and I will need to take carer’s leave from tomorrow (3/4). I anticipate being able to return to work by Friday (5/4).

Please let me know how I can assist with handing over my duties to the team temporarily.

Why is a request for leave email important?

In a professional setting, the way you communicate your need for leave is just as important as the leave itself. Here are some reasons why it’s worth getting right. 

Ensures a smooth transition

By providing specific dates for your leave, as well as arrangements for covering your responsibilities, you help your manager prepare for your absence. This minimises disruptions to the team ensures your duties can be done while you’re away.

Minimises misunderstandings

Your leave request email should make the details of your absence clear: the dates, whether it’s paid or unpaid, and if you will be providing any documentation. It sets clear expectations and helps your employer plan accordingly. 

Provides a documentation trail for records

A formal leave request email serves as an official record of your absence. This is important for both you and your employer, as it ensures that your leave is accounted for and managed in line with company policies. 

Complies with organisational policies

Many organisations have specific policies and legal requirements regarding employee leave. A formal leave request email ensures that you are complying with these policies. 

Provides necessary details for successful leave approval

A leave request email should include all the necessary details required for your employer to approve and record your leave. This includes the type of leave, the duration, the reason (if appropriate), and potentially how your responsibilities will be managed in your absence. Providing all this information upfront increases the likelihood of a smooth approval process.

If your job requires you to write a leave request email when you take time off, bookmark this page so you can refer back to the template whenever the need arise. Customise it to your situation, keep a polite tone, proofread it, and send it off with the appropriate amount of advance notice, and you will have mastered an important component of professional etiquette.  

What information should I include in my leave letter?

In your leave letter, you should include the type of leave you are requesting (such as annual, sick, personal or carer’s leave), the specific dates of your planned absence, a brief reason for your leave and any supporting documentation. This information ensures that your manager has a clear understanding of your needs and can prepare for your absence.

How should I state the reason for my leave request? 

The reason for your leave request should be stated clearly but concisely. For personal or annual leave, a brief mention of the reason (like travel or personal commitments) is all that is needed. For sick leave, include a general statement about your health condition without going into too much detail. Always maintain a professional tone and only share details that are necessary and relevant.

What level of detail is necessary in a leave letter? 

The level of detail in a leave letter should be enough to convey your request clearly without oversharing personal information. Include specific dates, the type of leave and a brief reason for your absence. If you have made arrangements to cover your work, mention this as well. The goal is to provide enough information for your employer to understand and process your request efficiently.

How much notice should I give before requesting leave?

The amount of notice you should give before requesting leave depends on the type of leave and your company's policy. For annual leave, it helps to give as much notice as possible, up to months in advance. For sick leave or emergencies, give notice as soon as you can. Failing to call or email before a certain time when you are sick can be recorded as a ‘no show’ or unauthorised absence, which could result in a verbal or written warning. Always refer to your company's leave policy to comply with any specific requirements.

What should I do if my leave request is denied?

If your leave request is denied, you can ask for a meeting or a discussion with your supervisor or HR to clarify any issues. Depending on the reason, you might be able to negotiate alternative dates or make adjustments to your request. Always remain professional and explore different options to address both your needs and your company’s requirements.

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