债权人的代位（subrogation）权，指的是因债务人怠于行使其到期债权，对债权人造成损害的，债权人可以向人民法院请求以自己的名义代位行使债务人的债权，但该债权专属于债务人自身的除外。

债权人的撤销（cancellation）权，指的是因债务人放弃其到期债权或者无偿转让财产，对债权人造成损害的，债权人可以请求人民法院撤销债务人的行为。

债权人的代位权和撤销权的区别：

1、代位权的行使是为了防止债务人的财产不当减产；而撤销权的行使是为了恢复债务人的财产。

2、代位权的诉讼时效必须在债权履行期届满后三年内行使，并可适用时效中止、中断的规定；而撤销权应自债权人知道或者应当知道撤销事由之日起一年内行使，自债务入的行为发生之日起5年内没有行使撤销权的，该撤销权消灭。

相关双语法规：

《合同法》第七十三条：

因债务人怠于行使其到期债权，对债权人造成损害的，债权人可以向人民法院请求以自己的名义代位行使债务人的债权，但该债权专属于债务人自身的除外。

代位权的行使范围以债权人的债权为限。债权人行使代位权的必要费用，由债务人负担。Where the obligor is remiss in exercising its due creditor's right, thereby harming the obligee's interests, the obligee may petition the People's Court for subrogation in its own name,except that the creditor's right exclusively belongs to the obligor.

The extent to which the subrogation rights can be exercised is limited to the obligee's rights. The expenses necessary for the obligee to exercise such subrogation rights shall be borne by the obligor.

《合同法》第七十四条：

因债务人放弃其到期债权或者无偿转让财产，对债权人造成损害的，债权人可以请求人民法院撤销债务人的行为。债务人以明显不合理的低价转让财产，对债权人造成损害，并且受让人知道该情形的，债权人也可以请求人民法院撤销债务人的行为。

撤销权的行使范围以债权人的债权为限。债权人行使撤销权的必要费用，由债务人负担。Where the obligor waives its creditor's right against a third party that is due or assigns its property without reward, thereby harming the obligee's interests, the obligee may petition the People's Court for cancellation of the obligor's act. Where the obligor assigns its property at a low price which is manifestly unreasonable, thereby harming the obligee's interests, and the assignee is aware of the situation, the obligee may also petition the People's Court for cancellation of the obligor's act.

The extent to which the right to cancel can be exercised is limited to the rights of the obligee. The expenses necessary for the obligee to exercise the right to cancel shall be borne by the obligor.

《合同法》第七十五条：

撤销权自债权人知道或者应当知道撤销事由之日起一年内行使。自债务人的行为发生之日起五年内没有行使撤销权的，该撤销权消灭。

The right to cancel shall be exercised within one year form the date the obligee knows or should have known of the matter for cancellation. Such right to cancel shall lapse if the obligee fails to exercise such rights within five years from the date of the occurrence of such act.

参考双语例句：

Questions of contract law not dealt with in these Principles such as consumer protection, incapacity, authority of an agent, set-off, assignment of other rights than intellectual property rights, legal subrogation, multitude of debtors and compensation between them as well as obligations arising from pre-contractual relationships shall be governed by the law applicable by virtue of the rules of private international law of the forum State.

本通则未规定之契约法问题，诸如消费者保护、欠缺行为能力、代理人之权限、抵销、非属智慧财产权之其他权利之让与、代位权、多数债务人及其内部之求偿、与因先契约关系而生之债，应依法院地国之国际私法，定其应适用之法律。

To provide an initial response to the Law Society of Hong Kong (Law Soc)’s submission dated 27 June 2003, in particular paragraph 4 of the submission on “Subrogation rights”, as soon as practicable so as to enable Law Soc to comment on the Administration’s initial response before the tenth Bills Committee meeting on 17 July 2003.

尽快就香港律师会(下称“律师会”)2003年6月27日的意见书作出初步回应，特别是该意见书第4段与“代位权”有关的内容，以便律师会可在法案委员会于2003年7月17日举行第十次会议之前，就政府当局的初步回应提出意见。