novation (0 synonym found)

We don't have synonyms for novation yet — it may be a rare, specialized, newly coined, or misspelled word. The closest thesaurus entries we have are location, nation and notion.

We don't have any synonyms for novation yet.

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location  ·  nation  ·  notion  ·  innovation  ·  notation  ·  vocation

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Definition of novation:

°Replacement of a contract with one or more new contracts, in particular in financial markets the replacement of a contract between a particular buyer and seller with contracts between the clearing house and each party.
"Netting by novation will occur immediately upon registration of the transaction in the SCM's name. — London Clearing House submission to the CFTC"
°A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.
"An example of a novation is where an original debt which was payable in two instalments is novated to become payable in five installments."
Definition of novation:

°Replacement of a contract with one or more new contracts, in particular in financial markets the replacement of a contract between a particular buyer and seller with contracts between the clearing house and each party.
"Netting by novation will occur immediately upon registration of the transaction in the SCM's name. — London Clearing House submission to the CFTC"
°A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.
"An example of a novation is where an original debt which was payable in two instalments is novated to become payable in five installments."
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