poolte kokkulepe ühe võlasuhte asendamise kohta teisega ühtede ja samade isikute vahel; võlasuhte lõppemise alus
agreement whose purpose is to extinguish an obligation and create a new obligation in its place, ... novation may be defined as a juridical act, which extinguishes an obligation by creating a new obligation which it substitutes for it ...
The competent authorities may recognize as risk-reducing the following types of contractual netting: (i) bilateral contracts for novation between a credit institution and its counterparty under which mutual claims and obligations are automatically amalgamated in such a way that this novation fixes one single net amount each time novation applies and thus creates a legally binding, single new contract extinguishing former contracts;
