Assumption Agreement for Switzerland

Assumption Agreement Template for Switzerland

A Swiss law-governed Assumption Agreement is a formal legal document that facilitates the transfer of obligations from one party (the Original Obligor) to another party (the New Obligor), with the express consent of the creditor. This agreement is structured in accordance with the Swiss Code of Obligations, particularly Articles 175-183, which govern the transfer of rights and obligations. The document outlines the specific obligations being assumed, the terms of the transfer, any conditions precedent, and the effective date of the assumption. It includes provisions for the release of the Original Obligor and necessary representations and warranties to ensure legal compliance under Swiss law.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Assumption Agreement

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Assumption Agreement?

The Assumption Agreement is a crucial legal instrument used when one party needs to take over the contractual obligations of another under Swiss law. This document is commonly utilized in corporate restructurings, asset purchases, or debt reorganizations where the transfer of obligations is required. The agreement must comply with Swiss legal requirements, particularly the Swiss Code of Obligations, which mandates creditor consent for such transfers. The document specifies the scope of assumed obligations, ensures proper transfer of rights and duties, and typically includes provisions for the release of the original obligor. This type of agreement is essential for maintaining clear contractual relationships and ensuring legal certainty in business transactions where obligations are being transferred from one party to another.

What sections should be included in a Assumption Agreement?

1. Parties: Identification of all parties: Original Obligor, New Obligor (Assuming Party), and Creditor/Counterparty

2. Background: Context of the original obligation and reason for the assumption

3. Definitions: Key terms used throughout the agreement, including 'Assumed Obligations', 'Effective Date', and 'Original Agreement'

4. Assumption of Obligations: Core provision where New Obligor assumes specified obligations of Original Obligor

5. Consent of Creditor: Express consent of the Creditor/Counterparty to the assumption of obligations

6. Effective Date: Specification of when the assumption becomes effective

7. Original Obligor Release: Terms of release of the Original Obligor from the assumed obligations

8. Representations and Warranties: Basic representations regarding authority and capacity to enter into the agreement

9. Governing Law and Jurisdiction: Specification of Swiss law as governing law and jurisdiction for disputes

10. Notices: Contact details and method for formal communications between parties

11. Counterparts: Provision allowing execution in multiple counterparts

12. Language: Specification of the controlling language version of the agreement

What sections are optional to include in a Assumption Agreement?

1. Regulatory Compliance: Required when the assumption involves regulated industries or requires regulatory approvals

2. Security Arrangements: Needed when existing security needs to be transferred or new security is being provided

3. Tax Provisions: Include when the assumption has significant tax implications for any party

4. Conditions Precedent: Required when the assumption is contingent on certain events or approvals

5. Partial Assumption: Include when only certain obligations are being assumed while others remain with the Original Obligor

6. Further Assurance: Optional clause requiring parties to execute additional documents if needed

7. Costs and Expenses: Include when there's a need to specify responsibility for transaction costs

8. Confidentiality: Required when sensitive commercial information is involved

What schedules should be included in a Assumption Agreement?

1. Schedule 1 - Assumed Obligations: Detailed list or description of the obligations being assumed

2. Schedule 2 - Original Agreement: Copy or extract of the original agreement containing the obligations being assumed

3. Schedule 3 - Related Security Documents: List and copies of any security documents related to the assumed obligations

4. Schedule 4 - Required Consents: List of third-party or regulatory consents required for the assumption

5. Appendix A - Form of Notice: Template for notifying relevant third parties of the assumption

6. Appendix B - Completion Requirements: Checklist of actions required to complete the assumption process

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Switzerland

Publisher

Genie AI

Document Type

Agreement Contract

Cost

Free to use
Relevant Industries

Banking and Financial Services

Insurance

Real Estate

Manufacturing

Construction

Healthcare

Technology

Telecommunications

Energy

Infrastructure

Professional Services

Retail

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Development

Mergers & Acquisitions

Corporate Secretariat

Business Development

Contract Management

Relevant Roles

Legal Counsel

Corporate Lawyer

Finance Director

Chief Financial Officer

Risk Manager

Compliance Officer

Corporate Secretary

Treasury Manager

Contract Manager

Business Development Manager

M&A Director

Restructuring Officer

General Counsel

Senior Legal Advisor

Financial Controller

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Standard Form Of Contract In (Construction)

A standardized construction contract template compliant with Swiss law and SIA norms, providing a comprehensive framework for construction projects in Switzerland.

find out more

Non Binding Contract

A Non-Binding Contract under Swiss law that formalizes preliminary agreements while maintaining non-binding status, suitable for various business relationships and negotiations.

find out more

Legal Contract

A Swiss law-governed legal contract providing a structured framework for binding agreements, compliant with the Swiss Code of Obligations.

find out more

Rent Agreement Draft

Swiss-law compliant rental agreement template for residential or commercial properties, aligned with the Swiss Code of Obligations and cantonal requirements.

find out more

Staff Agreement Letter

A formal employment offer letter compliant with Swiss law that outlines key employment terms and conditions while serving as an initial employment contract document.

find out more

Option Contract (Real Estate)

A Swiss law-governed agreement granting the right to purchase or sell real estate at predetermined terms within a specified period, subject to cantonal notarization requirements.

find out more

Common Agreement

A flexible legal agreement governed by Swiss law, suitable for establishing various types of contractual relationships between parties under Swiss jurisdiction.

find out more

Agreement To Lease

A Swiss-law governed agreement establishing terms and conditions for property lease between landlord and tenant, compliant with Swiss federal and cantonal requirements.

find out more

Professional Services Agreement

Swiss law-governed Professional Services Agreement establishing terms between service provider and client, compliant with Swiss Code of Obligations.

find out more

Bilateral Contract

A Swiss law-governed bilateral contract establishing mutual rights and obligations between two parties, structured according to Swiss legal requirements.

find out more

Legal Agreement Between Two Parties

A Swiss law-governed bilateral agreement template for establishing contractual relationships between two parties, compliant with the Swiss Code of Obligations.

find out more

Legal Binding Contract

A Swiss law-governed binding contract establishing enforceable rights and obligations between parties under the Swiss Code of Obligations.

find out more

Written Agreement

A formal contract document governed by Swiss law that establishes legally binding obligations between parties, following Swiss Code of Obligations requirements.

find out more

Simple Agreement

A basic contractual document under Swiss law designed to formalize straightforward business arrangements between parties.

find out more

Side Agreement

A Swiss law-governed supplementary agreement that modifies or clarifies specific terms of an existing main agreement while maintaining the original contract's core structure.

find out more

Mutual Agreement Between Two Parties

A Swiss law-governed mutual agreement establishing bilateral obligations and rights between two parties, compliant with the Swiss Code of Obligations.

find out more

Incorporation Agreement

A legal document governed by Swiss law that establishes the framework for creating a new company, defining shareholder relationships and corporate structure.

find out more

Casual Worker Contract

A Swiss law-governed Casual Worker Contract establishing flexible working arrangements with no guaranteed hours, compliant with Swiss employment regulations.

find out more

Business Transfer Agreement

A Swiss law-governed agreement documenting the complete transfer of a business, including assets, employees, and liabilities, from one entity to another.

find out more

Boilerplate Agreement

A Swiss law-governed template agreement providing a standardized framework for commercial relationships, compliant with Swiss legal requirements.

find out more

Amended Contract

A Swiss law-governed document that formally modifies an existing contract while maintaining its core structure and legal validity.

find out more

Representation Agreement

A Swiss law-governed agreement establishing the terms and scope of authority for a representative to act on behalf of a principal.

find out more

Preliminary Agreement

A Swiss law-governed framework document outlining terms and conditions for negotiating a potential transaction or business relationship, including both binding and non-binding provisions.

find out more

Notary Rent Agreement

A notarized lease agreement under Swiss law that establishes a formal rental relationship between parties, with legal verification through notarial authentication.

find out more

Model Tenancy Agreement

A standardized residential lease agreement template compliant with Swiss tenancy law and federal regulations.

find out more

Prenuptial Agreement

A notarized agreement under Swiss law that establishes property rights and financial arrangements between prospective spouses before marriage.

find out more

Commercial Lease Form

Swiss law-governed commercial lease agreement for business premises, incorporating federal and cantonal requirements for commercial property rental.

find out more

Simple Car Sale Agreement

Swiss law-governed agreement template for vehicle sales, covering essential terms for transfer of ownership and registration under Swiss regulations.

find out more

Contra Agreement

A Swiss law-governed agreement establishing terms for the exchange of goods or services between parties without monetary payment.

find out more

Catering Contract

Swiss law-governed agreement establishing terms and conditions for catering services, incorporating federal and cantonal requirements for food service provision.

find out more

Employment Contract Form

Swiss-law compliant employment contract template establishing key terms and conditions of employment relationship under Swiss jurisdiction.

find out more

Contractual Agreement

A Swiss law-governed agreement establishing binding obligations between parties, structured according to Swiss Code of Obligations requirements.

find out more

Security Agreement Form

A Swiss law-governed agreement establishing security interests over assets, detailing terms of pledge or assignment and enforcement rights under Swiss law.

find out more

Labour Contract Agreement For Construction Of House

Swiss-law governed labor contract agreement for house construction projects, incorporating federal labor laws and cantonal building regulations.

find out more

Partnership Agreement

A Swiss law-governed agreement establishing a partnership between two or more parties, defining their rights, obligations, and business relationship.

find out more

Business Cooperation Agreement

Swiss-law governed agreement establishing terms and conditions for business cooperation between multiple parties, including scope, responsibilities, and mutual obligations.

find out more

Employee Training Reimbursement Agreement

A Swiss-law agreement setting out terms for employer-funded professional training and employee reimbursement obligations.

find out more

Tenancy Agreement

Swiss law-compliant agreement establishing terms and conditions for property rental in Switzerland, governed by the Swiss Code of Obligations and cantonal regulations.

find out more

Confidentiality And Non Disclosure Agreement

Swiss law-governed confidentiality agreement protecting sensitive business information exchange between parties, compliant with Swiss legal requirements.

find out more

Rental Contract

A legally binding agreement under Swiss law governing property rental arrangements, outlining rights and obligations of landlords and tenants in Switzerland.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now