Wednesday, July 18, 2018

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The Register of Pledges on Movable Property and Rights

The Pledge Register started its activities within the Serbian Business Registers Agency on 15 August 2005. It is an integrated centralized electronic database of data on pledge rights on movable property and assets, which are subject to registration according to the Law.

A right of pledge is acquired through registration with the Pledge Register, whereas the priority of creditors who have registered their pledge right is determined according to the time of receipt of their application for registration of the pledge right with the Serbian Business Registers Agency.

All changes of data on registered pledge rights, data entries on the beginning of the settlement procedure, on disputes, as well as on other fact and documents relevant for legal operations in connection with the registered pledge.

Once a pledge right is registered, nobody can claim not to have known about the data contained in the Register’s database.

The fact that a pledge right is registered does not constitute proof of ownership or of any other rights of the pledger over a particular movable property or right, or that the secured claim or pledge is valid, and the Serbian Business Registers Agency does not guarantee that there are no other pledge rights over the same movable property or rights that are not registered in the Register.

Contractual, judicial and legal pledges are subject to registration.

Mandatory data:

1. exact time of receipt of the application for registration (day, hour and minute);

2. data on the pledger, pledgee and debtor (when the debtor and pledger are not the same person), specifically:

a) for natural persons:

  • name and surname;
  • personal ID number - JMBG (number of passport and country of issue, for foreign nationals);
  • address of place of residence.

b) for legal persons:

  • registered business name;
  • registration number (code in the foreign register and name of the register for foreign legal entities);
  • registered address.

3. data describing in detail the pledged asset/right;

4. basic data on the legal grounds of the right of pledge specifying the type of pledge right (contractual, judicial, legal);

5. principal and maximum amount of secured claim.

Optional data:
The Register may contain other data relevant for the registered pledge right, such as data on the owner, i.e. holder of the pledged movable asset, data on restrictions with respect of the use or disposal of the pledged asset/right, and similar.
  
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