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Areas of expertise

Electronic Archive for Security Interests in Movable Property

What is Electronic Archive for Security Interests in Movable Property   ?

 
According to article 1 para. 1 of Government decision No. 802/1999 regarding the Regulation for the Organization and functioning of  Archive for Security Interests in Movable Property and amended by Government decision No. 350/2004, Archive for Security Interests in Movable Property is a single database at the national level which ensures that real guarantees registration and other legal acts referred to in article 2 of title VI o law No. 99/1999 on measures to accelerate economic reforms  aswell as free access to the information registered  regarding the notices of warranty.

Any guaranteed creditor that, in order to obtain the rank of priority, wants to make public the existence of a real guarantee of a good, according to the provisions of title VI  law No. 99/1999 must complete a form notice of warranty on paper or in electronic form (document TED), and to provide, respectively, to forward to a non-authorized agent/archive with the payment of the tax provided by law and the corresponding rate set by the operator.

Briefly, registration of  pledge in electronic archive requires the following procedure:
The guarantee or its representative shall complete a form with the relevant data contained in the contract of real personal security.   The operator shall file in the archive faithfully listing   particulars contained in the form completed by the applicant, without exerting control of legality over them.

According to the law, the registration of notices of warranty in the archive is an obligation, and the 'staff of the archive (archive operators) do not have the right and cannot be kept to take action about the correctness of information entered in the archive',  full responsibility for the data entered into the form  returning to the person asking for the registration.

On the other hand, according to article 29, paragraph 1, of title VI of  law no. 99/1999 'registration in the archive does not confer validity  to a   void real security real ', so that if in reality it doesn't exist a security agreement or the content of warranty notices don't have coverage in provisions of the securuty agreement, such registration will not have any effect. 
The registration in the archive by operators/ authorized agents , by faithfully rendering the content of the  standard form filed  by the applicant for registration, is called notice of warranty.

Our Office offer the following services:

• entry in the Electronic Archive for Security Interests in Movable Property  of warranty notuces;
• checking in Electronic Archive for Security Interests in Movable Property   of any information regarding the real estate guarantees;  
• Electronic Archive for Security Interests in Movable Property  certified extracts; 
• promptness in  resolution of customer requests and to carry out registrations; 
• legal advice for all types of applications provided for by art. 5 para. (1) of the rules of organisation and operation of the Electronic Archive;
  

E-mail: arhiva@ aaida.ro
Tel: 0239.612.514