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We are currently working on a cession managing system. The basis of the system is completed. We still need to complete the module for compensation (cession).
Cession is a business term that refers to a right of the first creditor (person A) to transfer their credits to another creditor (person B). It is ‘the formal giving up of rights, property, or territory.
The module involves the following elements:
- Person A - A legal entity that transfers (cedes) his claim,
- Person B - A legal entity which becomes the new creditor in whose favor is transferred (Ceded) claim,
- Person C - A legal entity - the borrower (cezus) who takes a new creditor to whom the debt is settled.
The algorithm/module should be able to provide you informations with whom you can make cessions and create them.
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