The Philippines Personal Property Security Registry (PPSR) was established under the Personal Property Security Act (PPSA) of 2018. The PPSA was enacted to modernize the legal framework for securing obligations with personal property, promoting economic activity by increasing access to low-cost credit, particularly for micro, small, and medium enterprises (MSMEs).
The PPSR is an online notice registry that allows individuals and juridical entities to create, perfect, and register security interests over personal property. This centralized system enables the registration and searching of notices on security interests, ensuring transparency and efficiency in secured transactions.
The Land Registration Authority (LRA) is responsible for managing and maintaining the PPSR, ensuring its smooth operation and accessibility to the public. The PPSR aims to support economic growth by providing a unified and modern legal framework for secured transactions, making it easier for businesses and individuals to access credit using movable properties as collateral.
Security Interests in Personal Property
A security interest may be created over all forms of tangible or intangible asset or personal property as defined by the Civil Code, including but not limited to:
- Rights arising form contracts
- Such as Securities, Commodity contracts, Least of goods including financial leases and operating leases
- Equipment
- Tangible assets used in the operation of a business, such as machinery, tools, vehicles, and office equipment.
- Inventory
- Goods held by a business for sale or lease, including raw materials, work-in-progress, and finished products.
- Accounts Receivable
- Money owed to a business by its customers for goods or services provided on credit.
- Intellectual Property
- Intangible assets such as patents, trademarks, copyrights, and trade secrets.
- Agricultural Products
- Crops, livestock, and other farm products that can be used as collateral for agricultural loans.
- Consumer Goods
- Personal items owned by individuals, such as electronics, appliances, and vehicles.
- Investment Property
- Financial assets such as stocks, bonds, and other securities.
- Chattel Paper
- Documents that evidence both a monetary obligation and a security interest in specific goods, such as leases or installment sales contracts.
- Fixtures
- Personal property that is attached to real property in such a way that it becomes part of the real property, like built-in appliances or machinery.
- Proceeds
- Any property acquired upon the sale, lease, or other disposition of collateral, including cash or other assets received in exchange for the original collateral.
HOW TO REGISTER TO PPSR
You must have an account to make and manage your PPSR registrations. However, before creating one, you must determine which type of account is suitable for you.
INDIVIDUAL
Suitable for personal transactions and securing personal loans. Typically used by individuals to register security interests over personal property they own.
- Requirements:
- Requires personal identification details such as name, address, and valid ID.
JURIDICAL
Suitable for business transactions, securing business loans, and managing organizational assets. Used by businesses and organizations to register security interests over personal property they own or manage.
- Requirements:
- Requires corporate or organizational details such as business name, registration number, and authorized representative’s information.
Payment Options and Fees
The Personal Property Securities Register (PPSR) charges fees for various services. In addition to the standard PPSR fees, it is important to note that the bank may impose additional charges depending on the payment method used. For instance,
transactions made through certain banks or payment gateways might incur extra processing fees, which
will be added to the total cost of your PPSR transaction. Here are some of the service fees
charged by each bank:
| PAYMENT OPTION | SERVICE FEE |
| LANDBANK | P 7.00 |
| BPI | P 25.00 |
| UNION BANK | P 25.00 |
| RCBC | P 25.00 |
| PS BANK | P 25.00 |
| ROBINSON BANK | P 25.00 |
| ASIA UNITED BANK | P 25.00 |