Common use of Contract Transfer Clause in Contracts

Contract Transfer. 1. The principal shall not have the right to transfer any obligation from the agreement to third parties without the written consent of the supplier. Insofar as the supplier may have given written permission for a contract transfer, the principal shall at all times be jointly liable with such third party for the obligations from the agreement of which these general terms and conditions constitute a part. 2. Furthermore, insofar as the supplier may have given written permission for a contract transfer, the principal shall inform the supplier in advance thereof and the supplier shall have the right to terminate the agreement as per the date on which the transfer comes into effect. The supplier shall not be held to pay any compensation for damages in such an event.