Credit safety device in the sense of right means all legals form, whose principal purpose is the increase of the probability that the creditor of a demand comes to its right, is it that the debtor of its obligation to perform follows, is it that another fulfills the debt, is it that the creditor can access for the purpose of the satisfaction of his requirement certain fortune articles, whose value is reserved to a certain extent for the fulfilment of the requirement of the creditor.

Legal aspects

Institutes for right of the credit safety device are thus above all:

• Pledge rights at mobile things and properties (mortgage, reason and annuity charge, perpetual charge)
• Endorsement and debt entry
• Retention of title
• Transfer by way of security and safeguard assignment.

For the credit safety device it is characteristic that for the purpose of the safety device of its requirement against the debtor further rights are granted to the creditor. These further rights can be directed either against the debtor or the creditor safety device can straight of the fact consist that the creditor can take third up for the purpose of the satisfaction of his requirement against the debtor.

Because of the functional equivalence of the different institutes for right of the credit safety device a general survey can be productive.

Distinctions

• Person versus special collateral
• accessory versus abstract collateral

Bank-usual credit collateral

The following credit collateral use finds bank usual:

Mortgage liens

As a rule land charges are used for the safety device by credits. Hypotheken do not play a large role in bank practice, since this as accessory collateral for the safety device of additional credits cannot be used.

With smaller amounts also negative clarifying application find.

In the context of the financing of ships the ship mortgage is used.

Endorsements

Endorsements are to be prevented in a set of situations usual collateral around fortune shifts debited to the creditor:

• Endorsement partners/managing director for its GmbH.
• Endorsement of the marriage partner for debts of the other marriage partner (spouse endorsement)

Further endorsements of relative application find, if the soil quality of the respective applicant for the credit is not sufficient.

Within the firm customer range play endorsements, warranties and between connected enterprises an important role.

Assignments

In the private customer range a wage and a content transfer are mostly trained into the credit agreements. Frequently requirements from insurance benefits are retired:

• Capital screen end life insurance for the repayment of the credit
• Temporary life insurance for the cover of the death risk
• Fire insurance with the financing of real estates
• All risks insurance on vehicles with the financing of KFZ

Agreed for the security of a credit frequently a Restschuldversicherung (and retired), those the risk of death, illness and if necessary unemployment takes off.

With the financing of self-employed persons, independent ones and enterprises an assignment of a claim is often agreed upon. Thus a physician e.g. retires his demands against the cash-medical combination to the bank as security for his practice financing.

Frequently a is made by security stocks (e.g. in the context of a Effektenlombardkredites).

of real values find less with bank financings than rather with pawn shops application.

In the range of the KFZ financing a transfer by way of security of the KFZ often takes place. The car license II (in former times KFZ letter) remains thereby in the possession of the bank.

In the firm customer range transfers by way of security of inventory and machines are usual (e.g. in form of a space safeguard contract or a global assignment)

Further credit collateral

Apart from the collateral mentioned also further, here from space reasons mentioned, collateral application can find.

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