SBC
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Overview

The Unified Register for Rights on Movable Property is a government platform dedicated to implementing the procedures of the Movable Property Security Law, issued by Royal Decree No. (M/94) dated 15/04/1441H. The platform enables beneficiaries to register, amend, and terminate security interests on movable property. It also allows searching for existing registrations and the issuance of certified search reports.
 

Purpose

 To register and publish registrations indicating the existence of a security interest over movable property provided as collateral to a secured creditor. This registration grants priority of enforcement to the party who first perfects their security interest in the event the secured debtor (the guarantor) defaults on the secured obligation. Priority is determined based on the date and time of registration and prevails over any competing security interests in the same collateral.

Objectives

Goal one image
To register security interests on movable property, enhancing transparency and reducing the risk of undisclosed interests. 
Goal two image
To notify the existence of a security interest over movable property to avoid legal disputes.
Goal three image
To assist financiers of all types in making informed decisions regarding financing and purchases.
Goal four image
To determine priority over other security interests on movable property based on the chronological order of registration.

 

 

 

 

 

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