If the client . B is in default with the secured debt by not paying the credit, the assignee has the right, on that date, but not before, to realize his guarantee by exercising his recourse to recover the main debt and use the proceeds to settle the secured debt. Whether the underwriter can do so with the debt guaranteed before the debt is delayed is, as noted above, a question of fact that must be determined by the terms of the commitment agreement. We believe it is clear that health professionals should not legitimately suspend the transfer of accounting debts (or, in this case, any security rights that a bank may enjoy). We believe that it is not unpleasant for a practitioner to withdraw the accounting debts of the company`s debtors from the company`s bank account from the transfer bank and then use the proceeds to pay the company`s operating and rescue costs. However, it is completely inappropriate for the practitioner to redirect the funds recovered by the debtors to a bank account with another bank. Can the transfer of accounting debts be suspended in accordance with section 136, paragraph 2, point (a)? The main parties to any divestment agreement are the transferor and the transferee. The debtor is not a party to the transfer agreement, the debtor is content to fulfill his obligations. It is of course important to inform the debtor of any transfer agreement when the undertaking is due, otherwise he will perform the benefit to the wrong party.
Under South African law, surrender is a bilateral legal act whereby a Cedent, by appointment, transfers its rights to a ceding company because of an underlying cause. There are two types of assignment, namely a transfer and a deposit and an abcession in securitatem debiti. The theoretical problem with divestment is that it covers two branches and does not fit easily into the two branches. This created conceptual confusion in the interpretation of the transfer agreements. In practice, the transfer process can be summed up as follows: the transfer of unannounced rights is a legal principle under which large sums of money are liquidated on the South African market. As noted above, the SCA has established that a transfer is a bilateral legal act by which the Cedent transfers its rights to the members of the assignment. No formality is required for the agreement of commitment or the deed of surrender itself, although the parties may agree on formalities to which the assignment must be completed.