The event was targeted to promote credit access based on secured transactions -at national and international level- by promoting an active dialogue among actors of the export value chain. It was also targeted to generate a debate, within the Free Trade Agreement ambiance, on legal reforms needed for e-commerce and for the financial stability of businesses.
If approved, the Law of Secured Transactions will allow debtors to retain possession of the good or goods submitted as guarantees and, in case of nonperformance, it will also allow creditors to execute their right extra-judicially. A secured transaction is represented by everything having an economic value within the business productive unit, including inventory, accounts receivable, contracts and intellectual property.
The 150 attendees included executives of the banking and financial systems, corporate clients, congressmen, government officials and representatives of the productive sector, interested in the dynamic activity to be generated by the eventual approval and enforcement of the Law of Secured Transactions
Besides promoting the approval in Congress of the Law of Secured Transactions, MCA-Honduras will finance the creation and initial operation of the secured transactions electronic registry included in the Law; will prepare a series of manuals on good practices regarding registry, accounting and commercial matters, and will train professionals in commercial and legal fields in order to secure an effective and successful implementation of this new legislation.
Based on the Mexican, Brazilian, Colombian and Chilean experiences, preliminary estimates project an 8% impact on the Gross National Product in countries were this regulatory legal framework is being adopted and implemented.
Speakers included representatives of the financial and governmental sectors of the United States, Guatemala, El Salvador, Nicaragua, Costa Rica, Honduras, and experts from other cooperation agencies.
Materiales Conferencia Regional Garantías Mobiliarias 28/29 Feb. 2008