Colombian Commercial Code - Decree 410 of 1971 - Book III - Of Commercial Property - Title III - Securities - Chapter V - Different species of Securities - Section V - Certificate of Deposit and Bono Pledge - From: Art 757 By: Art 766
COLOMBIAN COMMERCIAL CODE
Section V
Certificate of deposit and bonus pledge
Article 757 .- The bonded warehouses may be issued as a result of deposit
Certificates of deposit incorporate the rights of the depositor of the
goods deposited and are intended to serve as an instrument of transfer,
transferring to the buyer any such rights.
The garment features a bonus credit of lien on the goods covered by
certificate of deposit and itself confer rights and privileges of the
garment.
Article 758 .-
The certificate and, where appropriate, form of bond will be delivered
by the warehouse at the request and expense of the depositor.
Article 759 .- In addition to general requirements, the certificate of deposit and pledge bond shall contain:
1. The mention of being a "certificate of deposit" and "bonus pledge" respectively;
2. The appointment of warehouse, storage place and date of issue of the document;
3.
A detailed description of the goods deposited, with all the necessary
data for identification or indication, where appropriate, that is
generally designated goods;
4. The record of having made the deposit;
5. The concept of storage fees and other benefits due to him the warehouse;
6. The amount of insurance and the insurer's name;
7. The term of the deposit, and
8. Any other requirements required by the regulations.
Paragraph .- The certificate of deposit will also contain the estimated value of the goods deposited.
Article 760 .- The pledge bond shall also contain:
1. The name of the beneficiary, if any;
2. The amount and maturity of the credit in the pledge bond is incorporated. This data is entered on the certificate to be issued the bond;
3. Indication that it is in the certificate the recording of the bond issue and
4. The signature of the holder of the certificate and the store that was involved in the operation.
Article 761 .- The title loan maturity shall not exceed the term of the deposit.
Article 762 .- If record is not made on the bond the interest agreed, it is understood that the amount has been discounted.
Article 763 .- Both the certificate and the bond will be nominal, to order or bearer.
Article 764 .- The certificate of deposit and negotiable pledge bond will jointly or separately.
Article 765 .-
The holder of the certificate that has been the inventory credit, will
be in the same status as the acceptor of a bill of exchange or grantor a
promissory note negotiable.
The
general store to sign the certificate of deposit and the pledge bond
guarantees the existence of the goods, they meet the requirements of
Articles 183 and 1187, and force in accordance with Articles 1181, 1182,
1189 and 1190.
.- Section 766
shall apply to the certificate of deposit and the bonus pledge, as
applicable, the provisions on the bill of exchange or promissory note
negotiable.
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