(2) The notice of assignment shall be in substantially the following form: NOTICE OF ASSIGNMENT. An assignment for the benefit of creditors is one of the vehicles utilized to liquidate a failed or no longer viable business under state law.I have gone pretty long without turning in an assignment. Probably 1 month and a half in a current elective course I have. An AOB gives the third party authority to file a claim, make repair decisions and collect insurance payments without your involvement. 1. Read through the Assignment of Benefits agreement carefully.