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DOF sets PPSA registry fee rates

The Department of Finance (DOF) has set in motion the full implementation of the Personal Property Security Act (PPSA) with its recent issuance of the rates for the fees on the use of the electronic registry mandated to be established under the law. Republic Act (RA) No. 11057 or the PPSA aims t

PPSA law to expand MSMEs, farmers access to credit

MANILA - The Department of Finance (DOF) has set in motion the Personal Property Security Act (PPSA) with its recent issuance of the rates for the fees on the use of the electronic registry mandated to be established under the law. Republic Act (RA) No. 11057 or the PPSA aims to promote economic activity among micro, small and medium enterprises (MSMEs) as well as farmers and fisherfolk by establishing a unified modern legal framework for securing obligations with personal property. It allows MSMEs and small farmers and fisherfolk to offer movable properties as loan security collateral to encourage lenders to extend more credit to these sectors. "This law will benefit MSMEs along with small farmers and fisherfolk as the establishment of a modern and unified legal framework for personal property security will now let them use their movable properties as collateral for their loans, in keeping with President (Rodrigo) Duterte's goal of expanding the ordinary Filipinos access to e

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