Making Security Interests Public : Registration Mechanisms in 35 Jurisdictions

Making Security Interests Public : Registration Mechanisms in 35 Jurisdictions

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 collate...

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Bibliographic Details
Main Authors:	Downes, Santiago Croci, Hennig, Betina Tirelli, Alvarez de la Campa, Alejandro
Format:	Report
Language:	English en_US
Published:	International Finance Corporation, Washington, D.C. 2017
Subjects:	ACCESS POINTS ACCESS TO CREDIT ACCESS TO THE INTERNET ACCOUNT RECEIVABLE ACCOUNTING ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLES ADVICE TO GOVERNMENTS ADVISORY SERVICES AGRICULTURAL PRODUCTS BANK ACCOUNT BANKING PRACTICES BANKS BARRIER BEST PRACTICE BEST PRACTICES BILL OF SALE BROAD ACCESS BROADCAST BUSINESS ENTITIES BUSINESS LAW BUSINESS MODEL BUSINESSES BUYER BUYERS CAPACITY BUILDING CAPITAL STOCK CASH PAYMENTS CENTRAL REGISTRY CERTIFICATE CERTIFICATES CHARACTER STRING CHATTEL MORTGAGE CHATTEL MORTGAGES CLAIM COLLATERAL COLLATERAL FOR LOANS COLLATERAL REGISTRIES COLLATERAL REGISTRY COMMERCE COMMON LAW COMPANIES REGISTRY COMPANY REGISTRY CONFLICT OF LAW CONTACT INFORMATION CORRUPTION CREATION OF REGISTRY CREDIT RISK CREDITOR CREDITOR RIGHT CREDITOR RIGHTS CREDITORS CUSTOMS DAY-TO-DAY OPERATIONS DEBIT CARD DEBT DEBTOR DEBTORS DECENTRALIZATION DERIVATIVE DERIVATIVE PRODUCTS DEVELOPING ECONOMIES DEVELOPMENT BANK DOCUMENTATION REQUIREMENTS E-MAIL ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ELECTRONIC DATA ELECTRONIC PLATFORM ELECTRONIC REGISTRATION ENTREPRENEURS EQUIPMENT FINANCE CORPORATION FINANCIAL CRISIS FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIATION FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SERVICES FIXED COSTS FRAUDULENT ACTS FREE TRADE FUNCTIONALITY FUTURE ASSETS FUTURES GENERAL PUBLIC GEOGRAPHICAL AREAS HARMONIZATION HUMAN ERROR ID IDENTIFICATION NUMBER IMMEDIATE ACCESS INCOME INCORPORATED COMPANIES INFORMATION TECHNOLOGY INSOLVENCY INSTITUTIONAL FRAMEWORK INSTITUTIONAL FRAMEWORKS INTANGIBLE INTANGIBLE PROPERTY INTELLECTUAL PROPERTY INTERESTED PARTIES INTERFACE INTERNATIONAL BEST PRACTICES INTERNATIONAL FINANCE INTERNATIONAL INTERESTS INTERNATIONAL STANDARDS INTERNATIONAL TRADE INTERNATIONAL TRADE LAW INVENTORY INVESTMENT SECURITIES JOINT STOCK COMPANIES JUDGMENTS JURISDICTION JURISDICTIONS LEGAL EXPERTS LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL MECHANISMS LEGAL REFORM LENDERS LENDING DECISIONS LENDING TECHNIQUE LENDING TECHNIQUES LIABILITY LICENSE LIENS LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN OFFICERS MODEL LAW MODEL LAWS MORTGAGE MORTGAGES MOVABLE ASSETS MOVABLE COLLATERAL MOVABLE GOODS MOVABLE PROPERTY MOVABLE PROPERTY REGISTRY NOTARY NUMBER OF DEBTORS ONLINE REGISTRATION ONLINE REGISTRATIONS ONLINE SYSTEM ONLINE SYSTEMS OPEN ACCESS OPERATING COSTS OPERATIONAL COSTS PERSONAL PROPERTY PERSONAL PROPERTY REGISTRY PERSONAL PROPERTY SECURITIES PHONE PHYSICAL PRESENCE PLEDGES POSSESSORY PLEDGE POSSESSORY PLEDGES POTENTIAL LENDERS PRIORITY RIGHTS PRIVATE LAW PRIVATE PARTIES PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PROTOCOLS RECEIPT REGIONAL TECHNICAL ASSISTANCE REGISTERED SECURITY REGISTRATION FEE REGISTRATION FEES REGISTRATION OF SECURITY REGISTRATION PROCESS REGISTRATION STATEMENT REGISTRATION SYSTEM REGISTRATION SYSTEMS REGISTRY OF PLEDGES REGISTRY OFFICE REGISTRY REFORM REGISTRY REGULATIONS REGISTRY SYSTEM REGISTRY SYSTEMS REGULATORY AUTHORITY REGULATORY ENVIRONMENT REGULATORY FRAMEWORK REGULATORY INFRASTRUCTURE REGULATORY REFORMS REPAYMENT RESULT RESULTS RETURN RISK MANAGEMENT SALARIES SEARCH SEARCH RESULTS SEARCHES SECURED DEBT SECURITIES SECURITY AGREEMENT SECURITY DEVICES SECURITY HOLDER SECURITY INTEREST SECURITY INTERESTS SERIAL NUMBER SOVEREIGN ENTITIES STAMP DUTIES STAMP DUTY STOCKS TECHNOLOGY SPECIALISTS TELEPHONE TRACKING SYSTEMS TRANSACTION TRANSACTION LAW TRANSACTION LAWS TRANSACTION SYSTEMS TRANSACTIONS LAW TRANSACTIONS LAWS TRANSACTIONS SYSTEM TRANSACTIONS SYSTEMS TURNOVER TYPE OF DEBTOR UNSECURED CREDITORS USER USERS WEB
Online Access:	http://documents.worldbank.org/curated/en/821191468340824013/Making-security-interests-public-registration-mechanisms-in-35-jurisdictions http://hdl.handle.net/10986/27088

Description
Summary:	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.