/ˈsɛʃənərɪ/ – Noun
Definition: 1. người nhượng quyền chủ nợ;
2. (Scot) người được nhượng quyền chủ nợ.
A more thorough explanation: A cessionary is a person or entity to whom a right or property interest has been transferred or assigned by way of cession, which is the act of transferring or assigning rights, property, or claims from one party to another.
Example: The cessionary is the party to whom the rights to a contract have been transferred.