LAW OF THE REPUBLIC OF MOLDOVA

of December 21, 2017 No. 304

About entering of amendments into some legal acts

The Parliament adopts this organic law.

Art. I. – The civil code of the Republic of Moldova No. 1107/2002 (2002, Art. No. 82-86, 661), with subsequent changes and amendments, to add the official monitor of the Republic of Moldova with Article 1245-1 of the following content:

"Article 1245-1. Concession of the agreement of the credit

(1) the Creditor can yield the agreement of bank loan to bank with the location or department in the Republic of Moldova without the consent of other agreement party. Along with concession of the agreement of bank loan the creditor can yield partially or in full also the providing and other accessory rights established in connection with obligations assumed under the agreement of bank loan without the consent of other agreement party and/or the third parties who identified them.

(2) To the cessionary the rights and obligations following from the agreement of bank loan, and the providing and other accessory rights yielded together with it in the form of their existence pass to date of change of the agreement party. The initial creditor is exempted from the obligations before the yielded agreement party from the moment of the notice on change of the agreement party according to part (4) this Article.

(3) the Yielded agreement party has the right to apply any remedies to which it could resort concerning the initial creditor to the cessionary.

(4) For presentation of the rights the creditor assignor informs on concession other agreement party and the third parties who established the providing and other accessory rights connected with the obligations assumed under the agreement of bank loan within ten calendar days from the date of the conclusion of the agreement on concession by means of the registered mail with the assurance of receipt.

(5) This Article is not applied to the agreements concerning only concession of the requirement or only acceptance of debt to which provisions of Articles 556-571 of this Code are applied.

(6) the Concession of the agreement of bank loan cannot cause damage to the rights of the debtor or make its obligation more paid.".

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