The extinguishment of a commercial pledge shall be applied for if the basis of the commercial pledge has been extinguished. An application for extinguishment of a commercial pledge shall be submitted to the Enterprise Register within five days from the day of termination of the commercial pledge.
* 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 the application https://komerckila.ur.gov.lv shall be electronically signed by the commercial pledgee or authorised person;
- true copy of the court adjudication (if the commercial pledge is extinguished on the basis of a court adjudication);
- authorisation for signing an application (if the application is signed by an authorised person, the authorisation shall be certified notarially or an authorisation shall be appended to the application with a secure electronic signature of the provider thereof).