Common use of Registration of the collateral Clause in Contracts

Registration of the collateral. 1. The collateral under the must be registered legally and the two parties should handle collateral registration with related materials and the contract in 7 bank business days since the contract is signed ; the contract comes into force on the date it is registered. On the request of the mortgagee, the mortgager should also handle notary of compulsory enforcement effect in the authority designated by the mortgagee and the mortgager accepts the compulsory enforcement voluntarily. 2. The collateral under the contract does not belong to legal compulsory registration requirements, the two parties should handle collateral registration with related materials and the contract in 7 bank business days since the contract is effective since it is signed. 3. If there is collateral must be registered in accordance with laws as well as collateral be registered voluntarily, different collaterals should be handled registration procedures according to regulations for above two clauses and the contract comes into force on the date the mortgage registration for the contract is finished. 4. If the mortgagee and debtor have reached agreement on extending the term for the fulfilling term, it does not need to get the agreement of mortgager. The mortgagee should handle renewal registration in original registration authority together with mortgagee within 30 bank business days before due of liability fulfillment term with extending related agreement , original Registration Certificate of Enterprise Movables Collateral and other related statement documents (if any). The extending related agreement comes into force on the date that the mortgagee reacquires the Registration Certificate of Enterprise Movables Collateral and other certificate documents. 5. The mortgager should hand over the various documentations, certificate documents, and mortgage registration documents related to the collateral to mortgagee for storage.

Registration of the collateral. 1. The collateral under the must be registered legally and the two parties should handle collateral registration with related materials and the contract in 7 bank business days since the contract is signed ; the contract comes into force on the date it is registered. On the request of the mortgagee, the mortgager should also handle notary of compulsory enforcement effect in the authority designated by the mortgagee and the mortgager accepts the compulsory enforcement voluntarily. 2. The the collateral under the contract does not belong to legal compulsory registration requirements, the two parties should handle collateral registration with related materials and the contract in 7 bank business days since the contract is effective since it is signed. 3. If there is collateral must be registered in accordance with laws as well as collateral be registered voluntarily, different collaterals should be handled registration procedures according to regulations for above two clauses and the contract comes into force on the date the mortgage registration for the contract is finished. 4. If the mortgagee and debtor have reached agreement on extending the term for the fulfilling term, it does not need to get the agreement of mortgager. The mortgagee should handle renewal registration in original registration authority together with mortgagee within 30 bank business days before due of liability fulfillment term with extending related agreement , original Registration Certificate of Enterprise Movables Collateral and other related statement documents (if any). The extending related agreement comes into force on the date that the mortgagee reacquires the Registration Certificate of Enterprise Movables Collateral and other certificate documents. 5. The mortgager should hand over the various documentations, certificate documents, and mortgage registration documents related to the collateral to mortgagee for storage.