Adam Frankel
General Counsel · Technology & AI
15+ years as General Counsel to technology, cloud & AI companies
Assignment of a Debt Due for a Consideration (India) by OLL
Open Legal LibraryUpdated 19 Oct 2026
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A DEBT DUE FOR A CONSIDERATION
This Deed of Assignment is executed on this __________________ day of __________.
Between Mr.____________________________,
S/o____________________________________,
address_____________________________________________________________________ (hereinafter called "the assignor") which expression shall include his successors, executors and administrators of the one part
And Mr._____________________________________,
S/o_________________________,
R/o_________________________________________________________________________ (hereinafter called "the assignee") which expression shall include his successors, executors and administrators of the other part. Now This Deed Witnesseth As Follows: 1. In consideration in lieu of the sum of Rs.______________ (Rupees ________________________________________________ only) paid by the assignee to the assignor (the receipt of which the assignor hereby acknowledges) the assignor as beneficial owner hereby transfers to the assignee all that debt due and owing to the assignor by his customer Sh. __________,
S/o Sh. ____________________________,
address _____________________________________________.
2. The said debt, which was given by the assignor to his customer, has been acknowledged vide a bond dated_________________ executed favouring the assignor by the customer.
3. addition to the amount in the bond the assignor also transfers to the assignee all interest due and to become due from the bond to the assignor, completely.
4. The assignee as beneficial owner accepts the assignment so granted by the assignor.
5. The assignor hereby agrees with the consents that the said debt is still due and owing to the assignor from his customer. In Witness Whereof, the parties to this deed have appended their signatures at ………………………………………, on the day, month and year first noted above, in presence of: Assignor ___________ Assignee: ____________ Signed.................... Date ......................
Witnesses: 1. 2.
This document is a Deed of Assignment used to transfer a debt from one party to another. It formally allows an assignor to transfer their right to collect a specific debt, including any accrued interest, to an assignee in exchange for a payment.
About this template
What is this template?
This document is a formal deed for the absolute transfer of a debt from an original creditor to a buyer. It is not a loan agreement or a power of attorney, but a full transfer of beneficial ownership of an existing financial obligation.
When should you use it?
Use this when a creditor wants to liquidate a debt by selling it to another person, rather than using a Debt Settlement Agreement which typically involves the debtor directly.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Transfer of Debt | The assignor transfers a debt due from a named customer to the assignee in exchange for a specified amount in Rupees. |
| 2 | Acknowledgment of Debt | Confirms the debt is evidenced by a bond dated and executed by the customer in favor of the assignor. |
| 3 | Transfer of Interest | Assigns all interest due and to become due from the original bond to the assignee completely. |
| 5 | Warranty of Debt | The assignor warrants that the debt is still due and owing from the customer at the time of execution. |
Who it's for
- an individual in India selling a debt owed to them by a customer under a bond
- a party purchasing the right to collect interest and principal on a third-party debt
How long it runs and how it's signed
How long
Used once
Signed by
Assignor, Assignee
Witness
Required
Notarisation
The document doesn't say
Also needed
stamp duty payable
Categories
Jurisdiction
India
Document info
MS Word. Document created on Fri Jul 24th, 2026. Last updated on Mon Oct 19th, 2026.
This document is public
Licensed under CC BY 4.0 (Attribution).
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