Novations financial definition of novations
novation (redirected from novations)
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1. The transfer of a contract from one party to another by mutual consent of the original counterparties
and the concurrence of the new party.
2. See: Rollover
The substitution of one debt with another debt.
The substitution of a new contract, debt, or obligation for an existing one. Usually encountered when a tenant assigns the lease to another,or when a new building owner requires all existing tenants to execute novation agreements.The effect is to extinguish all obligations under the old agreements and replace them with the new obligations.
References in periodicals archive
Developed and tested over a two year period at Ingredion Idea LABS innovation centres across Europe and the USA, the new Novation
Prima 340 starch is easy to use as it requires no pre-cooking, and thus reduces processing requirements.
For more information on Novation
8300 starch, contact the National Starch and Chemical Information Center, One Matrix Drive, Monroe, New Jersey 08831; telephone: 1-800-797-4992; fax: 1-609-409-5699; e-mail: firstname.lastname@example.org.
This makes Novation
Indulge 1720 perfect for the yoghurt market, including Greek-style products that have become increasingly popular.