Empowering Asset Finance Companies with Robust Legal Support

For asset finance companies operating in Kenya, navigating the legal intricacies of financing movable and immovable assets is crucial for operational success and risk mitigation. Mwenda Njagi & Co. Advocates provides specialized legal services for asset finance companies Kenya, offering tailored solutions to ensure compliance, protect security interests, and facilitate efficient financing operations. Our experienced team is dedicated to supporting your growth and stability in this vital sector.

Key Legal Frameworks for Asset Financing in Kenya

The legal framework governing asset finance in Kenya is multi-faceted, drawing from the Contracts Act, 2015, the Sale of Goods Act, the Hire Purchase Act, and regulations concerning movable property security rights under the Movables Property Security Rights Act, 2017 (MPSR Act). For property-backed finance, the Land Act, 2012 and the Land Registration Act, 2012 are paramount. Understanding and applying these laws ensures that finance agreements, security documentation, and recovery processes are legally sound and enforceable across Kenya.

legal services for asset finance companies Kenya
Mwenda Njagi & Co. Advocates

Our Specialized Legal Offerings for Asset Finance

Mwenda Njagi & Co. Advocates offers a comprehensive suite of legal services for asset finance companies. This includes drafting and reviewing finance agreements, hire purchase agreements, leases, and associated security documents such as charges, chattel mortgages, and pledges. We provide expert advice on perfection and registration of security interests under the MPSR Act through the PPSR (Personal Property Securities Register) and relevant land registries. Our services also encompass debt recovery, advising on regulatory compliance with the Central Bank of Kenya (CBK) where applicable, and handling litigation related to asset finance disputes.

Legal Representation in Kenya

Mwenda Njagi & Co. Advocates provides legal advisory and court representation across Kenya and all 47 counties in Kenya.

Investment in Legal Services: Fees and Strategic Advantages

Legal services for asset finance companies Kenya

The cost of legal services for asset finance companies in Kenya varies based on the complexity and volume of work. For drafting standard finance agreements, fees might range from KES 20,000 to KES 75,000 per agreement. Security perfection services under the MPSR Act may incur registration fees of approximately KES 500 per registration, plus our professional fees which could range from KES 15,000 to KES 50,000 per security. Engaging our firm provides strategic advantages by ensuring robust legal documentation, minimizing default risks, and facilitating efficient recovery, thus optimizing your company's financial performance.

Frequently Asked Questions

The MPSR Act, 2017, revolutionized asset finance by establishing a unified legal framework for security interests in movable property and a public registry (PPSR) for their registration. This enhances transparency and facilitates easier access to credit by making security interests more visible and enforceable.
We assist asset finance companies through pre-legal demand letters, negotiation, and where necessary, initiating court proceedings for repossession and enforcement of securities. Our focus is on swift and legally sound recovery actions, minimizing losses for our clients.
Yes, we provide expert guidance on compliance with relevant Kenyan laws and regulations, including consumer protection laws and any specific directives from regulators like the CBK or industry bodies. Our Nairobi-based team ensures you remain legally sound.