What is secured transaction?
It is where you come to file notices of security interests in movable property (collateral) and to search for notices of security interests. If you have agreed to take a security interests in movable property of someone (the debtor) who has an obligation to you, often an obligation to repay money, you may file a notice here to inform others of your security interests. In order to check for prior security interests in collateral that is offered to you as security for an obligation, you may search the Filing Office's records through the Official Solomon Islands Secured Transactions Filing Office website
The reasons for registering a notice of a security interest is to warn prospective creditors and buyers of collateral that there may be a security interest in the property. The reason for searching registry records is to discover whether there may be a security interest in the property of a debtor.