Making Security Interests Public

Downes, Santiago Croci; Hennig, Betina Tirelli; Alvarez de la Campa, Alejandro

Making Security Interests Public

2012

Downes, Santiago Croci | Hennig, Betina Tirelli | Alvarez de la Campa, Alejandro

Movable assets tangible or intangible often account for most of firm's capital stock. Thus it is important for jurisdictions to develop adequate laws on secured transactions to allow borrowers and lenders to recognize movable assets as collateral, supporting financing secured with such assets. Though the legal and regulatory framework is essential to any secured transactions system, the efficacy of a secured transactions law also requires an effective registration mechanism for interests in movable property. This report focuses on analysis of such institutions, highlighting the importance of a publicly accessible registry where information on interests in movable assets can be registered. The main goals of collateral registries are to provide public notice of interests in movable assets and to establish priority in the assets described in the notice for secured creditors. This report also addresses the different registration mechanisms for security interests in movable property and their effectiveness in achieving the two goals stated above. It does so using the results of a 2010 World Bank Group survey on collateral registries. The report emphasizes the practices and features available in different registries and key characteristics of effective collateral registries. The experiences of jurisdictions that have instituted best practice registries show how technology can improve the efficiency of collateral registries.

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AGROVOC Keywords

accounting advisory services agricultural products banks best practice best practices businesses capacity building commerce common law corruption debt decentralization economic development entrepreneurs equipment financial institutions fixed costs free trade income information technology international trade jurisdiction legal frameworks liability mortgages notary open access operating costs personal property private sector protocols repayment results risk management salaries stocks tracking systems

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Other Subjects

Intellectual property; Financial intermediation; Judgments; Buyers; International trade law; License; Lending decisions; Financial instruments; Institutional framework; Geographical areas; Chattel mortgage; Unsecured creditors; Movable property; Transaction; Financial sector; Registry of pledges; Barrier; Registry systems; Derivative products; Mortgage; Certificates; Regulatory reforms; Registered security; Transactions systems; Loan agreement; Physical presence; Regulatory environment; Return; Personal property securities; Derivative; Private parties; Regulatory framework; Registry system; Possessory pledges; Creditor right; Electronic registration; Chattel mortgages; Access to credit; Day-to-day operations; Security devices; Joint stock companies; Technology specialists; Model laws; Insolvency; Potential lenders; Registration statement; Transactions law; Registration of security; Secured debt; Central registry; Customs; Model law; Pledges; Immediate access; Private sector development; Registration system; Registry reform; Loan agreements; Telephone; Personal property registry; Lending techniques; Jurisdictions; Transactions system; Stamp duties; Regulatory authority; Registration systems; Inventory; Users; Online system; Serial number; Human error; Business law; Companies registry; Banking practices; Financial services; International interests; Incorporated companies; Result; Creditors; Online registrations; Functionality; Documentation requirements; Turnover; Liens; Registration fee; Registration process; Financial infrastructure; Receipt; Security interests; Creditor rights; Legal experts; Movable property registry; Financial institution; Transaction law; Registration fees; User; Access points; Future assets; Collateral for loans; Access to the internet; Certificate; Priority rights; Business model; Security holder; Securities; Buyer; Debit card; Transaction laws; Contact information; Legal reform; Operational costs; Legal framework; Company registry; Developing economies; Movable goods; Credit risk; Web; Financial resources; International finance; General public; Registry regulations; E-mail; Broadcast; Debtors; Searches; Financial crisis; Business entities; Loan; Claim; Creditor; Lenders; International best practices; Transactions laws; Creation of registry; Broad access; Phone; Security interest; Electronic platform; Movable collateral; Intangible; Institutional frameworks; Accounts receivable; Economic activity; Regional technical assistance; Possessory pledge; Intangible property; Regulatory infrastructure; Interface; Development bank; Sovereign entities; Account receivable; Electronic data; Legal mechanisms; Identification number; International standards; Search; Capital stock; Harmonization; Advice to governments; Interested parties; Bill of sale; Character string; Private law; Debtor; Search results; Investment securities; Conflict of law; Collateral registry; Futures; Stamp duty; Number of debtors; Fraudulent acts; Id; Accounts receivables; Online systems; Transaction systems; Movable assets; Bank account; Registry office; Cash payments; Type of debtor; Loan officers; Finance corporation; Online registration; Security agreement; Collateral registries; Lending technique; Collateral

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English

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Making Security Interests Public

2012

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