1. What is the Collateral Registry?

The Collateral Registry is a central database that records all registrations of securities over movable property or collaterals created by lenders to secure credits provided to borrowers. Any other type of obligation secured by movable property may also be registered.

2. What is the object of the Collateral Registry?

The main object of the Registry is to register securities over movable property/collateral(s) created on movable property to secure credit facilities provided by lenders or any other obligation provided by any person.

3. What is a collateral?

A collateral is defined as movable assets/properties that is subject to a securities interest.

4. What are the functions of the Collateral Registry?

It registers security interest over movable property/collateral(s).

It provides information on the existing securities as they relate to specific movable property.

An avenue has also been created to enable searches to be conducted on the database of the Registry to ascertain if there are prior security interests existing collateral.

It improves significantly the mechanism for enforcing credit agreements.