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.

Prensalibre.com adds, "The law which creates the Register aims to boost access to credit in the financial system by expanding to property, rights or shares which may be subject to warranty."

More on this topic

El Salvador: Secured Transactions Act

September 2013

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 law will facilitate the process for natural and legal persons to apply for loans using collateral such as their properties, tools, patents, trademarks and merchandise.

Secured Transactions Law for Costa Rica

February 2013

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.

A statement from the MEIC reads:

San Jose, February 7, 2013. In order to increase access to credit, particularly for SMEs, the financial sector, the private sector and the Government, with the help of international consultants, over the last few months have been working on the basis for a proposed Law on Secured Transactions.

Increased Use of Crops as Collateral

November 2012

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).

Prensalibre.com reports that "Of the 400 entries of movable items from January to November in the RGM, at the Ministry of Economy (Mineco), more than 150 correspond to crops of gold and pergamine coffee.”'

Guarantee Registry already operating in Guatemala

January 2009

The Property Guarantee Registry (RGM) received its first registration for $10 million on Monday.

According to prensalibre.com "Erasmo Velasquez, vice minister of Economy, confirmed that the Nuevos Almacenes S.A. company, which runs the Cemaco stores, registered a guarantee for its warehouse stock, in order to request a loan from a bank abroad."

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