Abstract
This essay is intended to explain the main provisions of the Colombian Secured Transactions Law in order to give national, foreign lawyers and investors a general sense of the current legal framework for secured transactions in Colombia. The present article is based mainly on the Colombian Secured Transactions Law, Law 1676/2013, yet, other sources were analyzed and consulted to explain the main provisions of the Colombian law, namely the Organization of American States' Model Inter-American Law on Secured Transactions, which was one of the main sources of the Colombian Secured Transactions Law. Even though the Colombian Secured Transactions Law was passed recently, some statistics provided by the Registry of Movable Property Security Interests suggest that creditors and debtors have widely accepted the new centralized registry. The Colombian Secured Transactions Law is a well-achieved law; however, some further actions need to be taken in order to produce a real revolution in access to credit in Colombia.
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