[Question] Cession Form

[M G Marais]

I need to draw up a Cession Form. It need to state that the equipment for the project are stored on our premises and that it is bounded and marked for this project and can be inspected at any time. Can someone please assist me with this.

[Nickolai Naydenov]

Excuse me but I don't understand what are you trying to do? Do you owe money for that equipment to the bank or what?

[Blurock]

You may have to get legal advice on this one. I may be wrong, but I understand a cession to be a transfer of a right between two parties. E.g. the right to collect an amount from a debtor, a contract, agreement etc.

Where movable property is concerned, a notarial bond or some contractual obligation is required, not a cession. Where equipment is on lease, loan or some other agreement, the terms of the agreement should determine the use and location of the equipment.

Maybe our legal friends will have a better answer.