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THE ENTITIES THAT KEEP ACCOUNTING RECORDS OF PLEDGE

THE ENTITIES THAT KEEP ACCOUNTING RECORDS OF PLEDGE. Group AA-68 Levkivska Lena. PLEDGE is referred to as one of the securities of the discharge of one’s responsibilities.

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THE ENTITIES THAT KEEP ACCOUNTING RECORDS OF PLEDGE

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  1. THE ENTITIES THAT KEEP ACCOUNTING RECORDS OF PLEDGE Group AA-68Levkivska Lena

  2. PLEDGE is referred to as one of the securities of the discharge of one’s responsibilities

  3. A debtor (pledger) pledges certain property or a property right as a guarantee of meeting their obligations by concluding a pledge agreement with a creditor (pledgee). Pledge is widely used in banks and pawnshops activities

  4. A pledge agreement (contains information on the sum of a credit, the value of a collateral and the deadline for repaying the credit and the accrued interest) A PLEDGER (usually, a legal A PLEDGEE ( usually, a bank or entity or an individual that borrow a pawnshop that lend money on money from a bank or a pawnshop) credit for a certain period of time)

  5. The current legislation of Ukraine (The Civil Code of Ukraine and the Law of Ukraine “On Pledge”) determines the FOLLOWING TYPES OF PLEDGE: - mortgage • pawn - pledge of goods in turnover or in process - pledge of property rights - pledge of securities

  6. Entities that perform pledge transactions can differ when considering each particular kind of pledge. In order to find out the parties of a pledge agreement taking into account particular kinds of pledge it is necessary to use the following table

  7. CONCLUSIONS • In general pledge takes place in finance and credit institutions’ activities namely pawnshops and banks that give credits to individuals and legal entities. • Besides, particular kinds of pledge such as pledge of property rights and pledge of securities can be used in case The National Bank of Ukraine provides commercial banks with credits • Accounting records of pledge transactions are kept by both parties of a pledge agreement (pledgers and pledgees) except individuals

  8. THANK YOU FOR ATTENTION! HAVE A NICE DAY!

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