The Romanian National Register of Movable Publicity

What movable publicity is

The National Register of Movable Publicity is the public record in which security interests and other operations over movable assets are registered. It runs electronically, under the authority of the Ministry of Justice, and entries are made through authorised operators and their agents.

The register took over the role of the former Electronic Archive of Movable Security Interests. Anyone still searching for “AEGRM” is in fact looking for this.

What registration achieves

A security interest that is not registered binds only the parties who signed it. Registration is what makes it enforceable against third parties — what makes it count against everyone, not only against the debtor.

The second effect matters just as much: the order of registration sets the rank. Where several security interests bear on the same asset, whoever registered first is paid first. Between two valid securities, the difference is the date and hour of the entry.

That is why registration is not an administrative formality that can wait. It is the moment a security interest genuinely becomes one.

What is registered

The register does not cover movable mortgages alone. Among other things, it records:

• mortgages over movable assets — equipment, inventory, receivables, bank accounts, shares in limited liability companies;
• retention of title, in sales paid by instalments;
• leasing operations;
• assignments of receivables;
• fiduciary arrangements;
• other operations for which the law requires movable publicity.

If you are unsure whether your operation falls into these categories, the question is worth asking before the contract is signed, not after.

What we do

The firm handles the whole path, from reviewing the contract to making the entry and following it over time.

We do not stop at the technical operation: we first check whether the security is drafted so that registration will mean what you expect it to. A correct entry over a badly drafted security protects you from nothing.

Checking before you buy or lend

The register is public. Before buying a movable asset of any value, or extending credit, you can check whether the asset already carries a security interest and in whose favour.

It is a check we run often, and one we recommend to anyone about to pay for machinery, inventory or a block of company shares.