Saturday, February 04, 2012

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Glossary

REGISTER OF PLEDGES is a public register of pledges over movable property and rights. It is a unique electronic database containing data entered in accordance with the Law on Registered Pledges over Movable Property and Rights („Official Gazette of the Republic of Serbia “ no. 57/03, 61/05).

THE APPLICATION is a form containing data which are entered in the database of the Register of Pledges. The forms are posted on the website of the Business Registers Agency. In order to register a pledge, a form has to be properly filled out and submitted, in accordance with the instructions provided in the form. Depending on whether the applicant wants to request data entry, strike off, or an excerpt from the Register’s database, he shall use one of the following forms:

  • Application for Registration of Pledge
  • Application for Updates or Amendments to Data on a Registered Pledge
  • Application for Registration of Data Entries on Disputes
  • Application for Deletion of Data Entries on Disputes
  • Application for Deletion of Pledges from the Register
  • Application for Excerpt from the Register.

THE LEGAL GROUNDS FOR DATA ENTRY OR STRIKE OFF are the documents submitted along with the application, on the basis of which data are entered in or stricken off the Register (agreement, annex to the agreement, court ruling and similar).

ZL.no. is the number under which the pledge filed in the Register of Pledges (assigned by the Business Registers Agency).

EXCERPT FROM THE REGISTER is an official document of the Register of Pledges containing data on a registered pledge or confirming that the Register contains no data on the a pledge over a certain property or right.

APPLICATION FILING DATE is the date (day, hour and minute) when the Business Registers Agency receives the application. When the application for registration is filed, the registration procedure is set into motion. This information is relevant for establishing right of priority in claim settlements.

THE PLEDGER is the debtor with right of ownership over a movable property or the proprietor of a right which he can freely dispose of, or alternatively a third person providing debt security for someone else.

THE PLEDGE HOLDER is the person who has a right of pledge over a movable property or a right which is the object of the pledge.

A THIRD PERSON, as set forth in Art. 16 paragraph 1 of the Law is the person designated by one or more pledge holders to undertake legal actions to protect and settle the pledged claim. This can be one of the pledge holders or some other person.

A PROXY is a person authorized for representation. If an application is submitted through a proxy, a power of attorney must be provided to show that this person is authorized to undertake legal actions in the Business Registers Agency. If the proxy is not an attorney, then the power of attorney must be by the court or other authority competent for the certification of signatures.

INTERESTED PARTY is a person, who is neither the pledger nor the pledge holder, who has a legal interest in having data entered in or stricken off the Register of Pledges.

THE OBJECT OF THE RIGHT OF PLEDGE which is registered into the Register can be movable property or rights, as well as intellectual property rights.

THE AMOUNT UP TO WHICH THE PRINCIPAL CLAIM IS SECURED is the basic claim set forth in Art. 62 paragraph 1 item 3 of the Law on Registered Pledges on Movable Property. It is an amount expressed in domestic or foreign currency up to which the main claim is secured.

MAXIMUM AMOUNT OF SECURED CLAIM (set forth in Art. 62 paragraph 1 item 3 of the aforesaid Law) is the maximum amount of the claim secured by a pledge and it includes the main debt, interest rate and costs. It can be expressed in domestic and foreign currency.

DEBT MATURITY DATE is the date when the debtor is under the obligation to satisfy liabilities.

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