cession of claim

Legal analysis: assignment of creditor's rights, also known as "assignment of creditor's rights". Refers to the transfer of creditor's rights between different subjects. Generally speaking, an agreement must be reached between the original creditor and the new creditor. It takes effect when an agreement is reached. However, the transfer of creditor's rights arising from internal inheritance or administrative orders does not require the consent of both parties.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 545 Creditors may assign all or part of their creditor's rights to a third party, except in any of the following circumstances:

(a) according to the nature of the creditor's rights shall not be transferred;

(two) according to the agreement of the parties shall not be transferred; 、

(3) It shall not be transferred according to law.

If the parties agree that the non-monetary creditor's rights cannot be transferred, they may not confront a bona fide third party. If the parties agree that the creditor's rights are not transferable, they may not oppose a third party.