What happens if information about the debtor or the collateral changes after the original registration?

If information about the debtor changes, the security agreement will often require that the debtor informs the secured creditor of this change as soon as possible. Once informed, the secured creditor will electronically register an amendment to the financing statement through a prescribed form called Form IV. The Filing fee for a Notice of Amendment is K100. It is the secured creditor’s responsibility to ensure that the information in the Movable Property (Security Interest) Registry System is correct.