What is an assignment?
A cession is the change in the debt relationship on the part of the creditor. An assignment is also referred to as an assignment. It is the exchange of the creditor without a change of the debtor and also without the change in the content of the assignment. An assignment always has an asset and is significant as a means of payment and as a hedge. The transferring creditor is also referred to as a cedant. If he transfers the assignment, he loses all claims to this. The recipient creditor, also known as an assignee, acquires all claims. This also includes all rights and ancillary rights belonging to this assignment. The civil legal legal definition of the concept of cession can be found in §398 of the Civil Code.
Admissibility and effect
All claims are assignable, provided they are sufficiently defined. Non-assignable receivables,
- if the assignment is excluded by an agreement with the debtor
- if the assignment can not take place without a change in the content of the claim
- if the claim is impregnable
- if the assignment is legally prohibited.
With the assignment the claim with all its securing and preferential rights passes over to the new creditor. Even after the assignment, the debtor has all the objections to the new creditor which he had against the old creditor.
Assignments can generally be distinguished in two forms.
Silent and open assignment
The cession may be in a silent or open form. The silent assignment is made without informing the debtor so that the old creditor can continue to demand benefits from the debtor. The assignee then has a claim to demand the services received from the old creditor. As a rule, this is done by means of a debit authorization.
The open assignment is accompanied by a notification of the debtor. Thus, the new creditor can, in the case of the open assignment, pay the performance directly at this
Protection provisions for the debtor
An assignment includes some protective provisions for the debtor. So can this
- with a claim which he has against the old creditor, also against the new creditor settle.
- offset payments made to the old creditor against the new creditor in the face of ignorance of the assignment.
- it must also apply the assignment if it has not been carried out at all or not in an effective manner, but only if the assignment is indicated to the debtor
The creditor may, with knowledge of the new creditor, demand proof of the assignment. If this is not done, the debtor is entitled to refuse performance. Likewise, dismissals of the claim or reminders on the claim by the new creditor are ineffective. However, the debtor must immediately reject it. If the old creditor has notified the debtor of the assignment, the presentation of a document is not necessary.
In most cases they used to hedge bank loans.
Such assignments are made for the sake of safety and are referred to as collateral assignment as collateral. The lenders are usually a bank or a credit institution. These conclude with the borrower a security contract, which is a contractual relationship. The security deposit thus includes the assignment of a claim to the lender for its security. The borrower acts as a transferred creditor, while the bank or the credit institution is the creditor received.