How long does a registration remain effective in the Movable Property Registry System?

The period of registration is determined by the information contained in the financing statement which reflects the security agreement between the debtor and the secured creditor. It can be for a period of time or for a perpetual period. However if the collateral is described as consumer goods in the financing statement, this period of time cannot exceed 5 years. The period of registration does not need to be the same as the duration of the loan. This is common when the secured creditor expects to renew the loan.