More than 1300 movable property securities registered in the first semester of 2011
Tegucigalpa.- Six months after its implementation, the Law for Movable Property has enabled the registering of 1345 movable property guarantees of individuals and companies wishing to secure the returns of their credits or investments.
The creation of the Movable Property Registry is encouraging credit in the national financial system through the enhancing of the list of goods, rights or shares that may be used as collateral.
In conformance with the law created with the technical and financial support of the Millennium Challenge Account - Honduras, movable property guarantees may be constituted with any good or service with market value, such as inventory, accounts receivables, equipment, contracts and intellectual property, among others.
Six months after its implementation, the Law for Movable Property has enabled the registering of 1345 movable property guarantees of individuals and companies.
With the Movable Property Registry, national farmers may have access to funding to increase their production.
With the creation of this law, it is also expected to keep supporting the farmers benefitted by the Millennium Challenge Account in 16 of the 18 departments of the country.
From date of its implementation the following goods have been registered: title deeds (1), clinics (1), companies (3), vehicles (1323), warehouse and stores inventories (5), machinery (10) and licenses (2). Aline Flores, President of the Tegucigalpa´s Chamber of Commerce and Industries reported that the goal is having 10,000 guarantees registered by the end of the year.
The registry price is 200 lempiras for each good placed as collateral; the funds and registration are being managed by the Registry of the Tegucigalpa Chamber of Commerce and Industries.
With the creation of this law, it is also expected to keep supporting the farmers benefitted by the Millennium Challenge Account in 16 of the 18 departments of the country, as with this legal framework, access to credit is being stimulated, creating better opportunities for farmers.
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