Creation of pledge

Under Uzbekistan law, any validly created pledge shall be enforceable and opposable to third parties. A pledge is validly created on the basis of a pledge contract or by law (e.g., when the owner of the pledged property changes). The entering into a pledge contract is obligatory. Only a valid pledge contract shall create an enforceable pledge. A pledge contract shall be valid from the date of its execution unless there are requirements of the law as to its notarisation and/or registration. Therefore, it is not necessary to notarise and/or register a pledge contract unless it is required by law.

In order for a security interest to be validly created, there must be a number of fundamental provisions in the security document such as the:

(a) &...

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Creation of pledge

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