The Framework Law on Collaterals governs: a) the establishment, registration, right of priority and enforcement of lien; b) the registration, right of priority and enforcement of foreign rights in the form of collaterals; and c) the registration and right of priority of related rights, special ownership rights, previously acquired rights and foreign rights in the form of special ownership rights; and d) the organization and manner of operation of the Collaterals Register. “Collateral” means the right in rem to property established in accordance with the provision referred to in Article 4 (1). of the Framework Law on Collaterals, which was acquired by the lienee as a means of securing one or more existing or future receivables.
Pursuant to the Framework Law on Collaterals, the collateral comes into existence following the fulfillment of the four conditions, regardless of the order in which they were fulfilled: a) that there is a registration in the Collateral Register relating to that collateral; b) that the persons designated as the lienee and the secured creditor in the registration referred to in point a) have concluded a collateral agreement; c) that the person designated as the lienee in the registration referred to in point a) is the owner of the property designated as security by the collateral agreement referred to in point b) of this paragraph; and d) that the person designated as the secured creditor in the registration referred to in point a) of this paragraph, or another person in accordance with the collateral agreement referred to in point b) of this paragraph or a related contract, has given or is obliged to give a loan to the person designated as the lienee in the registration referred to in point a) of this paragraph or to a third party.
As this office has been assigned a user account by the Collateral Registry, this office is fully authorized to register, make changes or deletions to the registration created by the use of its User Account.
The Rulebook on collaterals regulates the operation of the Collateral Register and issues related to the enforcement procedure referred to in the Framework Law on Collaterals. The Collateral Register will receive and process applications for registration, if all the prescribed conditions are met.
In order to ensure the proper fulfillment of obligations under the “Agreement on Conditional Transfer of Shares, Exit of the Existing Member and Accession of a New Member to the Company” of 10 November 2022, OPU-IP: 1301/2022, the lienee shall pledge to the secured creditor a cash deposit / funds in the amount of BAM 650,000.00 (in words: BAM six hundred and fifty thousand) from the dedicated sub-account of the lienee opened with Sparkasse bank d.d. BiH. Based on the agreement, this office registered the lien on the cash deposit /funds in the Collateral Register in accordance with the Framework Law on Collaterals and the Rulebook on Collaterals for the benefit of the secured creditor.
If you need advice on the subject of Establishment, Registration, Right of Priority and Enforcement of a Lien under the Framework Law on Collaterals or you need a commercial law attorney in Sarajevo for your company or for your business idea, then you are in the right place with us and you can contact our corporate law attorneys directly by phone (+387 62 342 463), WhatsApp, Viber or e-mail (firstname.lastname@example.org).