Rule for enforcement of mortgaging certificate

Have you signed a mortgage agreement on the vehicle in case the commitment hasn't been carried out and isn't the mortgagor following the aggreement terms to deliver you the mortgaged item within a fortnight from your written notification?

You can demand the compulsory enforcement without the court decision

Mandatory requirements for it:

• Apply to Service Agency of MIA for the issue of mortgage certificate;

• Get the mortgage item valued by an expert/audit;

• Pay 1% of the item value - enforcement due and no less than 100 GEL;

• Present the mortgage certificate in NBE enclosed with valuation report, receipt for payment of service due, ID and warrant in case of representation in order to get compulsory enforcement started. The application, that is necessary to get the enforcement document registered, is filled in by a NBE clerk electronically.

A mortgagee is responsible for relevance of the presentation of the mortgage certificate.

Within 5 days after the registration of the the document, NBE delivers a statement to a debtor regarding the presentation of the vehicle to NBE within 7 days. After the deadline, the vehicle is detained by MIA and the item is delivered to a mortgagor.

A statement of the case is drawn up for every single action carried out by an enforcement officer during the process. The relevance of the document is certified by the signatures of eye-witnesses.