A Step Closer to a Personal Property and Security Registry
Back in 2018, the Congress enacted Republic Act No. 11057, or the Personal Property Security Act (“PPSA”). The enactment of the PPSA is in line with the State’s policy “to promote economic activity by increasing least cost credit, particularly for micro, small, and medium enterprises (MSMEs), by establishing a unified and modern legal framework for securing obligations with personal property.”
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