82,891
edits
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
Line 1: | Line 1: | ||
{{a|security|}}The | {{a|security|}}{{dpn|sʌb rɪˈɡeɪʃᵊn|n|}} | ||
The process whereby one person “steps in” to the legal shoes of another to exercise that other’s legal rights against a third party, by way of satisfying a legal claim between the first two. Three places you might expect to see this: when an insurer, having paid out on an insurance claim, prosecutes the insured’s rights against a third party; where a secured creditor exercises the contractual rights under a debt which has been assigned to it by way of security, or where a guarantor assumes a creditor’s rights to take action to recover a debt from a debtor. | |||
{{subrogation setoff}} | {{subrogation setoff}} | ||
{{sa}} | {{sa}} | ||
*[[Interpretation - ISDA Provision|Netting and set-off under an ISDA]] {{premium}} | |||
*[[Guarantee]] | *[[Guarantee]] | ||
*[[Set off]] | *[[Set off]] | ||
{{ref}} | {{ref}} |