Provisions of the new civil code on the transfer of creditor's rights

The Civil Code (effective from 202 1, 1, 1 year 10) has the following provisions on the assignment of creditor's rights: 1. Creditors may assign all or part of their creditor's rights to a third party, except in any of the following circumstances: (1) According to the nature of the creditor's rights, they may not assign them; (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. 2. If the creditor transfers the creditor's rights without notifying the debtor, the transfer is not effective for the debtor. The notice of assignment of creditor's rights shall not be revoked, except with the consent of the transferee. 3. Where the creditor transfers the creditor's right, the assignee obtains the subordinate rights related to the creditor's right, except that the subordinate rights belong exclusively to the creditor. The transferee's acquisition of subordinate rights is not affected by the failure to go through the transfer registration formalities or transfer possession of subordinate rights. 4. After receiving the notice of assignment of creditor's rights, the debtor may claim the assignor's defense against the assignee. 5. In any of the following circumstances, the debtor may claim set-off from the assignee: (1) When the debtor receives the notice of assignment of creditor's rights, the debtor has creditor's rights against the assignor, and the debtor's creditor's rights expire before or at the same time as the assigned creditor's rights; (2) The debtor's creditor's rights and the assigned creditor's rights are based on the same contract. 6. The performance fees increased due to the transfer of creditor's rights shall be borne by the transferor.

Legal objectivity:

Article 546 of the Civil Code of People's Republic of China (PRC) * * * If the creditor transfers its creditor's rights without notifying the debtor, the transfer shall not be effective for the debtor. The notice of assignment of creditor's rights shall not be revoked, except with the consent of the transferee. Article 545 of the Civil Code of People's Republic of China (PRC) * * * Creditors may assign all or part of their creditor's rights to a third party, except in one of the following circumstances: (1) According to the nature of the creditor's rights, they may not assign them; (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.