Share Pledge Agreement Thailand

Apr 12, 2021

Section 760. If, without the consent of the pawnbroker, the pawn giver accepts the mortgaged property or a third party retains custody, he is liable for the loss or damage suffered by the pawned property, including by force majeure, unless he proves that the loss or damage would have occurred in all cases. A universal security agreement can be used to provide guarantees on all assets held in Thailand as part of commercial security under the BSA. The security provider`s agreement is required to register commercial security agreements. Where certain rights are to be provided as operating security under the BSA, the security recipient, if he must obtain the consent of a person before transferring those rights to a third party, must submit a letter from that person that accepts the transfer of the right by the security provider to a third party, along with the application for registration. A written notification or written agreement from the debtor is recommended so that the assignment or innovation is enforceable against the debtor. Section 757. The provisions of this Title XIII apply to deposit contracts with licensed pawnbrokers only to the extent that they are not contrary to the laws or rules governing pawnbrokers. Section 768. If several real estate properties are mortgaged as collateral for a bond, the pawnbroker can sell them as a choice, but he cannot sell more than is necessary to satisfy his right.

Section 751. When a regulatory instrument is mortgaged, such a pledge cannot be fixed against third parties, unless its creation is approved on the instrument. I promise you, it`s not going to work out. A pledge is created when a piece of furniture is delivered by one person (the Pfandgor) to another (the pawnbroker) in order to ensure the performance of an obligation. “delivery,” physical detention by the pawnbroker or by a third party. Thai law provides that a collateral will be extinguished when the mortgaged property is returned to the property of the pen. Stocks and instruments (such as foreign exchange and foreign exchange) can be mortgaged under Thai law. Indeed, promises of action are a common form of security. To impose collateral, an authorized incense must sell the property at a public auction; However, no court decision is required for such a sale. Thai law prohibits parties from entering into agreements before the expiry of a bond that the pawnbroker owns the mortgaged property or sells it in the event of an infringement, with the exception of the public auction. In other words, the obligation to public auction cannot be waived.

Section 766. Notice of entry of an invoice, without the need for prior notification, is being withdrawn on the day of its due date. Lenders should consider several important issues regarding registration requirements for security interests established in Thailand, including a reflection on the date, expenses and consequences of non-registration. For example, failure to register a mortgage – which had a mortgage registration fee – causes the mortgage to be null and private. The sale of shares or certain other instruments must also be registered in the register of shares of the issuing company in order to be applied to a third party and the issuing company. Section 764. When executing the undertaking, the pledgeee must first inform the debtor in writing in order to fulfill the obligation and accessories within a reasonable time to be fixed in the notice of contract.