Colombia

Colombia’s Law No. 1676 “through which access to credit is fostered and rules on security interests are enacted” was published in the Colombian Official Diary in August of 2013 and entered into effect in February of 2014. The Colombian registry of security interests on personal property was launched in March of 2014.

The Columbian Registry Regulations can be downloaded here.

The Registry of security interests’ webpage in English is available at https://www.garantiasmobiliarias.com.co/Default.aspx

The Law implements the OAS Inter-American Model Law on Secured Transactions and follows the unitary approach under which all types of security devices, whether denominated as pledges, liens or sales of accounts receivable are treated as security interests. The Law excludes security interests in negotiable instruments, investment securities and highly-mobile equipment of the type covered by the Cape Town Convention from its scope. The registry is accessible only electronically and the Law expressly prohibits verification of any information submitted for registration.

“Colombia’s New Law on Security Interest over Movable Assets Comes into Effect”