Novation of a commercial pledge
1. Summary
The parties to the novation agreement may agree to amend the legal basis or essential provisions of the claim and/or to change the taker or provider of the commercial pledge.
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5 working days (not including the day of submission)*Review
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from 42,68 EURCosts
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Can be done electronicallySubmit documents
* 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:
- the application - it shall be submitted by completing the application form on the commercial pledge e-Service site https://komerckila.ur.gov.lv - the application shall be electronically signed by the commercial pledgee and the commercial pledgee or authorised persons;
- novation contract - an electronic document or an electronic copy of a paper document;
- framework contract - If the secured claim is amended, the text of the amendments to the contract (from which the secured claim arises) (for example, amendments to the loan, credit agreement) shall be appended. The text of amendments to the framework contract shall be submitted as an electronic document or as an electronic copy of the paper document;
- authorisation to sign 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);
- a questionnaire for inclusion of information in the Register of natural persons of a foreigner (foreigner) who has a legal link with Latvia on the basis of which mutual rights and obligations in the field of commercial activities and taxes are formed or have developed, but no personal identity number of the Republic of Latvia has been granted;
- information regarding the payment made is indicated in the application (or a receipt or a copy thereof appended to the application, or a printout of the Internet bank payment, or information regarding payment of the State fee);
- if a property subject to registration is pledged (vehicle, tractor technique, herd or trade mark, patent, design) - a document (information) shall be appended which certifies that the specified fee for registration of a commercial pledge note in the Register of files subject to registration has already been paid in advance, or it shall be entered in the application. If the subject matter of the commercial pledge is supplemented by new units of property subject to registration, the additional State fee (CSDD; VTUA; LDC; Patent Office) shall be paid for the new unit, but no fee shall be repaid for the units already pledged.