Registry of Movable Guarantees

Overview

Consultation of the Registry of movable collateral. RGM is an API business service that seeks to increase access to credit for businesses, especially SMEs, will operate through a file system in terms of the law, forms the initial registration, modification, extension, termination and enforcement of security interests.

Availability

Registry of Movable Guarantees is currently available in:

🇨🇴 Colombia

Benefits

Verification of Ownership

Movable guarantees often involve assets like vehicles, machinery, or inventory. Checking the registry ensures that the person or business claiming ownership of these assets is indeed the rightful owner, preventing fraud or misrepresentation of asset ownership.

Preventing Fraudulent Collateral Claims

Individuals or businesses may attempt to use the same asset as collateral for multiple loans (double pledging). The registry of movable guarantees helps prevent this by allowing institutions to verify whether an asset has already been pledged as collateral elsewhere.

Assessing Borrower Creditworthiness

A borrower’s creditworthiness can be affected by existing liabilities, including movable guarantees. By reviewing the registry, lenders can assess the borrower’s financial obligations tied to movable assets, providing a more accurate picture of their ability to repay loans.