This law governs the creation of a non-possessory charge on movable assets and rights in order to secure claims, a charge contract, the rights and obligations of contracting parties, the entry of a charge in a register, its enforcement in favour of the chargee and the termination of a charge.
Movable assets and rights are charged by entering the charge in a register, as established in this law.
The legal relations that are not governed by this law shall be governed by the provisions that regulate obligations, property relations and other provisions.
Charge Contract Article 2
The charge contract obliges the chargor to provide security for the chargee by entering the chargee's claim to the charger's asset in the register (hereinafter referred to as: Charge Register). The chargor may be the debtor or a third party. The charge contract defines the rights and obligations of the chargor and the chargee.
Content and the Form of the Contract Article 3
The charge contract shall in particular contain: the day of entering into the contract, the first and last name of the person or the name of the company; the permanent or temporary residence i.e the seat of the chargee and the chargor, as well as that of the debtor, if they are different persons; the charged asset with the necessary characteristics; and information about the secured claim.
The charge contract shall be in written form.