NOTARY CHAMBER OF GEORGIA PRESENTATIONMUNICH October 2010

General Information Civil notaries since 1996 Full member of UINL since 2007 Number of notary seats 300 Number of Practicing notaries 214 Approximately Notary Acts per month

Latest Changes   The procedure of taking the position of a notary was modified   The procedure of appointment the substitute notary became easier   Territorial limitation of notary bureaus is cancelled   The professional insurance of the liabilities of the notary was enacted   Private Pension Insurance

Changes in the Notary Fees Act A notary shall have the right to define the fee under agreement with a client: a) If he/she carries out the notary act, for which the fee is not directly defined under the law or b) If he/she carries out one of the notary acts, for which the right of agreement on fee with a client is directly envisaged under the law, but no more the limit defined by the same law. For the notary act, for which the fee is envisaged by the law, the notary shall be obligated to take the fee only by the fixed amount.

Every notary was switched in the Electronic Notary Registry since September, 2009, using strictly protected modern IT technologies. All notary acts are registered in the Electronic Notary Registry and awarded with individual, unique registration number.

ADVANTAGES OF ELLECTRONIC REGISTRY To increase the level of confidence of the notary documents; To exclude the risk of falsification of the notary documents; To record the data on alteration or invalidation of the notary acts; To carry out the common notary registry of notarial powers of attorney and control the cases of invalidation of the power of attorney acts by the principal; To carry out the general electronic registries of probate cases and testaments, formation of general databases on testators and heirs; To carry out exchange of data between the notaries via electronic way; To carry out archiving of the notary documents in the digital format; To generate automatically statistical database of notary acts.

Scanned versions of Notary Acts verified after July 1, 2010 are available via online on the official web page of Notary Chamber of Georgia It should be clarified that all the aforementioned shall be achieved through exclusion of unauthorized access to the confidential information about the client and the transaction.

DATABASES ACCEPTABLE TO THE NOTARIES VIA ELECTRONIC MEANS Public (Real Estate) Registry Civil Registry Vehicle Registry Pledge Registry State Archives Registry of Entrepreneurs Registry of Non-entrepreneurial Legal Entities Registry of Debtors Registration of the transactions to the Registers can be made electronically from Notary’s Office.

“ONE STOP SHOP” Innovations in Notary Activities Technologies of the XXI century One Stop Shop Quick, effective and valuable service

Consultation of Notary certification of statements, powers of attorney acts, and the minutes of meetings of the managements of the legal entities Service of Notary is available for all Georgian Citizens throughout the world ONLINE SERVISES

Online Services Electronic communication provides the availability of direct visual contact of a party of the transaction and the notary The identity of the transaction party is known to the notary or identification of the transaction party is available via the pictured electronic database of the Agency of Civil Registry of Georgia Attendance of two witnesses is mandatory Notary has to record the electronic way of certification of notary acts as video-files, which are kept in the notary archive

Two and more notaries verifying contracts via online Notary In Batumi Notary in Tbilisi Seller Buyer Notary fee shall be equally divided on notaries, if not otherwise agreed between them

The writ of Execution From the Notary NOTARY Out of court proceeding Starting from April 1, 2010 the notarized pledge and mortgage agreements were awarded with the executive power Creditor Writ Of Execution

Money Laundering and Countering the Financing of Terrorism Transaction report obligation above GEL ( Euro) Moving on the new automatic way of sending the required information to the Financial Monitoring Service via electronic notary registry

THANK YOU