An assignment agreement is a legal act by which one party (the assignor) transfers their rights over an asset, a right, or a claim to another party (the assignee), without changing the nature of that right. In other words, the assignor cedes (transfers) a right they hold, and the assignee becomes the new holder of that right.
Examples of frequent situations:
- Assignment of a claim (Cesiunea de creanță): The assignor (for example, a supplier) transfers the right to collect a debt from a debtor to the assignee (for example, a debt recovery company). Effect: The debtor will pay the assignee, not the assignor.
- Assignment of shares / equity interests (Cesiunea de părți sociale / acțiuni): In a company (SRL, SA), a shareholder can assign (sell or donate) their shares to another person. Effect: The assignee becomes the new shareholder.
- Assignment of copyright (Cesiunea drepturilor de autor): An author (writer, artist, photographer) transfers the patrimonial rights over a work to a company or another person. Effect: The assignee can commercially exploit the work (sell, distribute, etc.), under the conditions set out in the contract.
Essential elements in an assignment agreement:
- Parties: The assignor and the assignee.
- Object of the assignment: The right or asset being transferred (claim, shares, copyright, etc.).
- Price (if it is an onerous assignment).
- Payment method (if applicable).
- Effective date.
- Obligations of the parties.
- Notification of third parties (for example, the debtor must be informed in the case of a claim assignment).