The secured transactions framework in Belarus is generally governed by Articles 315-338 of the Civil Code. Mortgages in immovables such as real estate are specifically governed by the Law on Mortgages 2008. Security interests in movable property are specifically governed by the 1993 Pledge Law. However, these statutes are sometimes contradictory, and it is unclear which prevails in the case of uncertainty. The Civil Code allows for non-possessory pledges over movable assets. Previously, all of these non-possessory interests were not registered anywhere, and it was up to the borrower to keep track of these. However, this was recently reformed by virtue of a Decree passed in 2016. This made provision for the creation of a notice-based Pledge register. Some of the drawbacks of the current framework is that parties still cannot create security interests based on future assets. Additionally, it is not possible to grant security rights in specific categories of movable assets, but rather, there must be detailed descriptions of the individual subject of the security interest.

Click Here to Access the Register

Click Here to Access the 2016 Decree that creates the Register (Original Language)

Click Here to Access the Civil Code (English)

Further Reading