Admission and Registration of Naval Mortgages and Delivery of Certificates

The admission and registration of naval mortgages is a process regulated by specific laws and regulations. Vessel owners must meet certain requirements and submit the necessary documentation to the Ministry of Industry, Commerce, and Mipymes (MICM) to initiate the application. Obtaining a naval mortgage certificate is crucial for protecting the owner’s rights.

Legal and Juridical Framework of Naval Mortgages in the Dominican Republic

The legal and juridical framework of naval mortgages in the Dominican Republic is established by precise laws and regulations. It’s important to know these legal provisions to ensure a secure transaction and protect the rights of vessel owners.

Laws and Regulations Applicable

In the field of naval mortgages, various laws and regulations apply. Some of the main laws are Nos. 603 and 688 from 1977 regarding the admission of maritime mortgages, which establish the procedures and requirements for carrying out a valid registration of a naval mortgage.

Moreover, other legal provisions such as the Commercial Code and the Navigation Law must be considered.

Admission and Registration Process of Naval Mortgages

This process is a procedure that involves specific requirements and necessary documentation to ensure the rights and obligations of both the vessel owner and the competent authority.

Here is a step-by-step outline of the process, including associated deadlines and costs.

Requirements and Necessary Documentation

Identification of the vessel owner, with copies of their valid identity card.
Properly registered title of the vessel.
Detailed information about the vessel, such as its name, registration number, and technical characteristics.
Affidavit from the owner regarding the ownership of the vessel and the existence of other mortgages or encumbrances.
No encumbrance certificate issued by the General Directorate of Internal Taxes (DGII).
Evaluation and appraisal of the vessel by an authorized expert.

Application and Registration Procedure

Online Procedure

Access the MICM virtual window.
Select the service of interest, enter data, and upload the required documentation.
Follow up on the application through the virtual window.

In-Person Procedure

Submit the complete file at the MICM Customer Service Division.
A customer service assistant will help you create your user on the online platform of the virtual window.
Follow up on the application through the virtual window.

Naval Mortgage Certificates

Naval mortgage certificates play a fundamental role in protecting the rights of the vessel owner. These certificates are legal documents that verify the existence of a naval mortgage on the vessel and establish the rights and obligations of both the owner and the creditors.

Types of Certificates and Their Importance

There are different types of naval mortgage certificates, each with its specific features and applications. The main types of certificates include:

Mortgage Registration Certificate: This certificate accredits the registration of the naval mortgage in the Registry of Ships and Naval Artifacts.
Mortgage Cancellation Certificate: This certificate is used to cancel a previously registered naval mortgage.
Mortgage Extension Certificate: If it is necessary to extend the term of the naval mortgage, this certificate authorizes the extension for a period agreed upon by the parties.

Our Services Include:

Legal advice in the collection of documents and requirements necessary for the application for registration.
Preparation and drafting of the naval mortgage certificate application, ensuring that all legal requirements are met.
Submission of the required documents to the MICM.
Follow-up of the evaluation and response process.