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.
Common Types of Personal Property That May Be Used as Collateral
- Motor Vehicles
- Cars, trucks, buses, motorcycles, utility vehicles, trailers, construction vehicles, agricultural vehicles, and other motorized equipment.
- Equipment
- Machinery, tools, computers, office equipment, manufacturing equipment, medical equipment, and other assets used in business operations.
- Heavy Equipment
- Construction machinery, excavators, bulldozers, cranes, forklifts, generators, and similar industrial equipment.
- Inventory
- Goods held for sale, lease, or distribution, including raw materials, work-in-process, and finished products.
- Accounts Receivable
- Amounts owed to a business for goods sold or services rendered.
- Agricultural Products
- Crops, livestock, poultry, fisheries products, agricultural inputs, and other farm-related assets.
- Fixtures
- Goods attached to real property that may be subject to a security interest under applicable law.
- Deposit Accounts and Cash Collateral
- Bank accounts, deposits, and other cash-based assets to the extent permitted by law.
- Proceeds
- Property, funds, receivables, or other assets derived from the sale, lease, collection, or disposition of collateral.
- Intellectual Property
- Patents, trademarks, copyrights, industrial designs, trade secrets, and other intellectual property rights.
- Investment Property
- Shares of stock, bonds, securities, investment accounts, and similar financial assets.
- Chattel Paper
- Records evidencing both a monetary obligation and a security interest in, or a lease of, specific goods.
- Leases of Goods
- Rights and interests arising from financial leases and operating leases.
- Rights Arising from Contracts
- Contractual rights that have economic value and may be assigned or used as collateral.
- Consumer Goods
- Personal, family, or household items, including appliances, furniture, electronics, jewelry, and personal vehicles.
- Warehouse Receipts and Documents of Title
- Warehouse receipts, bills of lading, and other documents representing rights to goods.
- Other Personal Property
- Any movable tangible or intangible property that may be the subject of a security interest under Republic Act No. 11057 and its Implementing Rules and Regulations.
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 |
