The National Lien System (SNG) manages financial restrictions on the vehicles – cars motorcycles or trucks – that are used as guaranties on credit operations across Brazil. SNG was developed to make the process of creating guaranties in the financial system more agile and more secure.
SNG allows banks, finance companies, leasing companies and purchasing pool administrators to investigate any restrictions there might be on a vehicle offered as guaranty, before entering into a credit transaction.
Inclusion of the lien: the financial institution enters its registration with B3, receives a login and password and, whenever it finances a vehicle or accepts a vehicle as the guaranty of a loan, registers it with SNG, describing the conditions – fiduciary ownership transfer or leasing, for example.
Consultations: whenever entering into a credit transaction, the financial institution consults the SNG data bank. The system posts, online and in real time, whether the vehicle is free of encumbrances, has legal or judicial restrictions against it or is linked to another financing arrangement.
Lien cancellation: when the contract expires, the institution registers cancellation of the financial restriction at the SNG, in such manner that the consumer can sell the vehicle or offer it as guaranty in another credit agreement.