The commercial pledge manager shall be appointed by the commercial pledge taker. A manager can be both a legal person and a physical person. The administrator shall act as a trustee of the commercial pledgee in accordance with the provisions of the commercial pledge Law. The termination of the powers of the commercial pledge manager shall be registered in the commercial pledge Register on the basis of a written application of the commercial pledge taker. Prior to the expiry of the powers of the commercial pledge manager, the commercial pledgee shall inform the commercial pledgee thereof in writing.

^{* 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;
• a receipt or a copy thereof, or a printout of an Internet bank payment, or information regarding payment of the State fee.