A commercial pledge is the right of pledge registered in the Commercial Pledge Register under the procedure laid down in the Commercial Pledge Law.
The subject of a commercial pledge may be:
- a tangible or an intangible asset (including the right to claim) owned by a merchant or other legal person;
- assets subject to registration, including the company as an aggregation of assets, stocks, shares and bonds may constitute the subject of a commercial pledge, regardless of the owner of these assets.
The subject of a commercial pledge may not be a ship, financial instruments entered on a financial instruments account, credit claims within the meaning of the Financial Collateral Law, financial resources, and a claim arising out of a cheque or a bill of exchange.