La assignment of credits is transaction through which credits are transmitted or derechos incorporeal of a part - he assignor – regarding a third ceded, to another person call assignee. to transaction through which credits are transmitted or derechos incorporeal of a part - he assignor – regarding a third ceded, to another person call assignee.
Participants in a assignment of credits
The participants involved in a assignment de credit are the following:
- Assignor: Creditor original of the loan.
- Assignee: New creditor that will be able to recover the financing.
- On loan: Debtor of the credit.
Main characteristics of the assignment of credits
The main features of the assignment of credits are the following:
- It is not necessary the consent of the debtor to make the transfer of the loan.
- Es Useful when a company requires cash in the short term Plazo and cannot wait to recover the financing granted.
- Some obligations They cannot be transferred like the derechos de foods. These must be paid only from Parents to their minor children.
- El price paid by the assignee depends on value present financing. This is calculated using a type de interest that reflects the risk of the transaction.
- If sujeto ceded is defaulter In other institutions, for example, the probability of default is Most. Thus, a discount code with a type de interest higher and the value present of loan will be lower. The same thing happens when the debt It is very long Plazo.
- The transfer is usually formalized before a notary. Of that crafts, is registered the respective contract de assignment credits. The responsibilities assumed by the participants are detailed there.
- Shipping Costs resource: If debtor is declared in insolvency, the assignor will be exempt from all responsibility. That is, the new creditor can not claim al lender original due to the borrower's default.
- With resource: If debtor does not return the loan within the agreed timeframes, the assignor shall be held accountable to the assignee. In other words, there is a responsibility solidarity.
Categories of assignment of credits
The types of assignment of credits are two:
Law School Dominican
La assignment of credits and others derechos incorporeal is a operación legal system established and regulated by the provisions of our Code Civil law in its articles 1689 and following.
"The assignment de credit produces effects direct between the assignor o creditor original, assignee o creditor ceded and the debtor; generating a linkage direct between the debtor and the assignee, from the moment the notification is made to the debtor of the contract de assignment, since from that time on act, the assignee have the right to start the persecution of the credit, benefiting from the same guarantees granted to the creditor original to recover their credit, without being able to demand more derechos that those transferred; corresponding to the debtor el fulfillment of the legal obligation required to be released.»
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