Collateral Registration Already Operating in Honduras
Since last Friday, the Secured Transactions Registry administered by the Chamber of Commerce of Tegucigalpa has become operational.
Monday, January 31, 2011
The Registry will accept machinery, crops, vehicles or any movable and immovable property as collateral for a loan or financing.
A bill has been presented to the Legislature which will regulate the use of inventories, intangible assets and other movable assets as security for financing.
When there aren’t sufficient assets to use as collateral for bank financing, producers are registering their crops in the "Registro de Garantías Mobiliarias" (Movable Collateral Registry - RGM).
The Economic Committee in Congress has agreed to pass a law that will enable collateral such as merchandise or intangible assets such as patents to be used to obtain loans.
The Property Guarantee Registry (RGM) received its first registration for $10 million on Monday.
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