Search
The Laws of Fiji
Last Updated: 1 August 2020

[PPS 99] Debtor’s right to redeem collateral99 

99
At any time after the secured party has taken possession of the collateral but before the secured party sells or agrees to sell the collateral or is deemed to have taken the collateral in satisfaction of the obligation secured by it, the debtor and any person who is entitled to receive a notice of disposition under section 93(1) may, unless otherwise agreed in writing after default, redeem the collateral by—
  • (a)tendering fulfilment of the obligations secured by the collateral; and
  • (b)a sum equal to the reasonable expenses of seizing, repossessing, holding, repairing, processing and preparing the collateral for disposition, if those expenses have actually been incurred by the secured party, and any other reasonable expenses incurred by the secured party in enforcing the security agreement.