(EN) connector assembly (400) for connecting a pair of formwork panels (200)with each other is disclosed. The connector 5 assembly (400) includes a basecomponent (402) having an arm, a first opening (602) formed on the arm, and alocking portion (406) formed at an end of the arm and adapted to be removablyinserted in a second opening formed by alignment of respective slots (204) of thepair of formwork panels (200). The connector assembly (400) further includes a10 handle component (404) adapted to be partially disposed in the base component(402) through the first opening (602) formed on the arm. The handle component(404) is adapted to be operated to rotate the arm such that the locking portion(406) is rotated within the first opening (602) to partially lock the base component(402) in the first opening (602) for connecting the pair of formwork panels (200).