The commercial pledgee cedes the secured claim. The transferor (commercial pledgee) and the transferee (third party) enter into a contract by which all rights of the transferee (unless otherwise agreed by the parties) are transferred to the transferee (third party), namely the transferee.

^{* The statutory time limit for examining documents may be extended on the basis of Section 64, Paragraph two of the Administrative Procedure Law.}

Documents to be submitted:

• application - it shall be submitted by completing the application form on the commercial pledge e-service site https://komerckila.ur.gov.lv;
• assignment contract - an electronic document or an electronic copy of a paper document;
• a receipt or a copy thereof, or a printout of an Internet bank payment, or information regarding payment of the State fee.