Personal Property Security Act (RA 11057)

Republic Act (RA) No. 11057, otherwise known as the “Personal Property Security Act (PPSA),” was signed into law on 17 August 2018.

PPSA aims to promote economic activity by increasing access to least cost credit, particularly for micro, small, and medium enterprises (MSMEs), by establishing a unified and modern legal framework for securing obligations with personal property.

PPSA aims to strengthen the secured transactions legal framework in the Philippines, which shall provide for the creation, perfection, determination of priority, establishment of a centralized notice registry, and enforcement of security interests in personal property and for other purposes.

This is the primary site for the public consultation on the drafting of the Implementing Rules and Regulations (IRR) of the PPSA.