Prohibition on assignment between companies no longer allowed

What changes?

Prohibition on assignment will be banned. Companies are no longer allowed to agree on non-assignment clauses. Suppliers may transfer or pledge any monetary claims they have outstanding with their customers, to banks and other lenders as security for a loan.

Prohibition on assignment clauses occur with some regularity in contracts that companies conclude with each other. This way they want to prevent unknown debtors from reporting. This will no longer be allowed.

For whom?

• companies that want to pledge their claims as a security for a loan
• companies that are indebted to their suppliers
• banks and other lenders

When?

It is not yet known when this change in law will come into force

Please note: The effective date of this measure is not yet final. Entry into force is subject to its passing through the upper and lower houses of parliament or proclamation of the Order in Council (Algemene Maatregel van Bestuur, AMvB) or ministerial decree and publication in the Staatsblad or Staatscourant(in Dutch).