Group AA-68 Levkivska Lena. PLEDGE is referred to as one of the securities of the discharge of one’s responsibilities.

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Presentation transcript:

Group AA-68 Levkivska Lena

PLEDGE is referred to as one of the securities of the discharge of one’s responsibilities

A debtor (pledger) pledges certain property or a property right as a guarantee of meeting their obligations by concluding a pledge agreement with a creditor (pledgee). Pledge is widely used in banks and pawnshops activities

A pledge agreement (contains information on the sum of a credit, the value of a collateral and the deadline for repaying the credit and the accrued interest) A PLEDGER (usually, a legal A PLEDGEE ( usually, a bank or entity or an individual that borrow a pawnshop that lend money on money from a bank or a pawnshop) credit for a certain period of time)

The current legislation of Ukraine (The Civil Code of Ukraine and the Law of Ukraine “On Pledge”) determines the FOLLOWING TYPES OF PLEDGE: - mortgage - pawn - pledge of goods in turnover or in process - pledge of property rights - pledge of securities

Entities that perform pledge transactions can differ when considering each particular kind of pledge. In order to find out the parties of a pledge agreement taking into account particular kinds of pledge it is necessary to use the following table

№Kind of pledgePledgerPledgee 1. Mortgage Individuals, legal entities (enterprises, institutions, organizations) Legal entities (enterprises, institutions, organizations, pawnshops, banks) 2. Pawn Individuals, legal entities (enterprises, institutions, organizations) Legal entities (enterprises, institutions, organizations, pawnshops, banks) 3. Pledge of goods in turnover or in process Legal entities (enterprises, institutions, organizations) Legal entities (enterprises, institutions, organizations, banks) 4. Pledge of property rights Individuals, legal entities (enterprises, institutions, organizations, banks) Legal entities (enterprises, institutions, organizations, banks), The National Bank of Ukraine 5. Pledge of securities Individuals, legal entities (enterprises, institutions, organizations, banks) Legal entities (enterprises, institutions, organizations, banks), The National Bank of Ukraine

In general pledge takes place in finance and credit institutions’ activities namely pawnshops and banks that give credits to individuals and legal entities. Besides, particular kinds of pledge such as pledge of property rights and pledge of securities can be used in case The National Bank of Ukraine provides commercial banks with credits Accounting records of pledge transactions are kept by both parties of a pledge agreement (pledgers and pledgees) except individuals CONCLUSIONS

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