Register of Charges
A Register of Charges is an official record maintained by a company that lists any charges (i.e., legal claims, rights, or interests) that have been placed on its assets, such as property, equipment, or intellectual property. Charges are typically created when a company borrows money and offers its assets as security for the loan.
Register of Charges – Record Secured Interests in a Company’s Assets
A Register of Charges is an official log maintained by a company, listing legal claims (charges) placed on its assets (e.g., property, equipment, or intellectual property). These charges typically arise when the company uses its assets as security for loans or other financing.
A Register of Charges made in Bind includes:
Company Details
Specifies the legal name, registration number, and registered office of the company, confirming which entity the charges pertain to.
Particulars of Each Charge
Date Created and Date Registered
Indicates when the charge was formed and formally recorded at Companies House.
Charge Reference Number
Offers a unique ID for easy referencing.
Chargor and Chargee
Identifies the party granting the charge (the company) and the party benefiting from the security interest (e.g., a bank).
Property Charged
Describes the secured assets, such as real estate, equipment, or other undertakings.
Amount Secured
Outlines the monetary obligation the charge secures.
Type of Charge
Notes whether it’s a fixed charge (covers specific assets) or floating charge (covers assets generally), or both.
Negative Pledge
Indicates whether the company is restricted from creating further security interests on the assets.
Date of Satisfaction
Records when (and if) a charge has been fully paid off and released.
Certification
Confirms that this record is true and complete, reflecting all charges the company must register.
Bind streamlines creating and updating your Register of Charges, ensuring compliance with legal requirements and easy reference for all stakeholders.
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