For business loans, but also increasingly for personal loans, it is common to secure them with a single assignment. This has the advantage for the borrower that there are no further credit costs such as land register entries when mortgaging a property and the bureaucratic effort is reduced.
The single-assignment loan is therefore particularly worthwhile for short-term loans, or smaller loans, in business transactions to compensate for short-term defaults or to avoid having to lend large assets for rather small sums.
A loan with individual assignment means that a fixed value
such as the property, is not lent, but instead a loan is given to the lender against a third party debtor. These can be payment claims against these, eg B. in the form of an unpaid invoice from a customer, or service claims against third parties, eg B. an existing credit or in the form of an investment or capital investment.
When assigning, you should pay attention to several special features of this type of loan. It is important to distinguish between a loan with individual assignment and a loan with global assignment. In the case of a credit with a single assignment, only a single claim against third parties is given as a pledge; with a global assignment, all claims on third parties are granted as a pledge.
In the event of a loan default, this means that the creditor has the right to “rip off” until the outstanding loan amount has been paid, which is associated with a large loss of capital due to the loss of income from the debtor.
The advantage of a single assignment loan
Therefore lies with the borrower, since only a maximum of one claim can be eliminated – this increased risk compared to a global assignment, however, can be paid by most banks with an interest premium.
In the case of a loan with individual assignment, it should also be contractually specified exactly which claim is made to whom and in what amount by the borrower. A partial pledging of a claim is also possible, eg B. if this should be higher than the requested loan amount.
A borrower should also make sure that an individual assignment loan
It is a silent individual assignment and not an open individual assignment. In the case of an open individual assignment, the third-party debtor is informed that the claim to him is now deposited as a pledge with the respective lender – this is not the case with a silent individual assignment, here only lenders and borrowers know about the pledge.
In business transactions and companies in particular, it is often extremely disadvantageous if, as in the case of an open individual assignment, third-party debtors are made aware of a loan, as this has the smack of an insolvency, which can lead to a loss of reputation. Because orders to possibly insolvent companies are of course reluctant to be awarded for self-protection.
In the case of private debtors, this is reflected in an assumed weakness in creditworthiness – if the income is pledged in the form of a loan with an open individual assignment, the employer can also become aware of a financial emergency.
If an individual assignment loan is repaid at the end of the term, the claim to the respective claim is also returned to the borrower. The retransfer of the individual assignment should also be contractually regulated.