Possibilities of the electronic auction site have expanded

Upon broadening the possibilities of the electronic auction site and increasing the popularity thereof, as well as in order to increase incomes earned from auctions, additional services are offered on the auction site.

In order to make the auction site even more convenient for users thereof and activities thereof more efficient, the subscription of the monitoring service of announcements registered on the auction site is provided, as well as provision of information to the crediting services providers from the Register of Executive Cases regarding executive cases of natural and legal persons is ensured.

Monitoring of auctions provides receipt of information in the user's account of the auction site or e-mail regarding auctions published on the auction site. This service enables the user to define the preferred selection criteria and in case if a new auction is published on the site, corresponding with the defined criteria, the system notification will be sent to the user on that. Thus the persons, who will subscribe for the service, will be able to be sure that they will not miss any auction they are interested in.

Besides, taking into account the fact that currently crediting service providers and credit information offices do not receive information on cases of debt recovery, reaching sworn bailiffs, the auction site provides information from the Register of Executive Cases regarding executive cases of natural and legal persons for assessment of creditworthiness.

The service will provide an opportunity for crediting service providers and credit information offices on the electronic auction site in the online regime to request and receive information about the executive cases of the person registered in the Register of Executive Cases (debtor, amount of debt, registration number of the executive case, further progress of the executive case, number of executive cases and sworn bailiff), where the person is registered as a debtor, in order to be able to assess the ability o the consumer to repay the credit, in compliance with the provisions of Section 8, Paragraph 4.1 and 4.2 o the Consumer Rights Protection Law.

Besides, legal acts were amended with regards to organization of auctions on the electronic auction site, providing to broaden the range of organizers of auctions on the electronic

auction site - auctions organized by the SJSC Valsts nekustamie īpašumi (State Real Estate) and others are expected as of 2019, therefore it will be possible to participate in auctions, organized not only by sworn bailiffs and administrators of the insolvency proceedings, but also other subjects on the electronic auction site.

This year the auction site was visited for more than 9,274,127 times. That shows that the site has gained big popularity and visibility during these three years and persons visit it regularly, in order to become acquainted with the latest publications of auctions.

Electronic auction site is a module of the Register of Executive Cases, which is a state information system, while the Court Administration is the controller and holder thereof. The electronic auction site works since 1 July 2015 and successfully provides placement of auction announcements, registration of participants of auction, collection of information regarding the registered participants of the auction, authorization of registered participants of auction for participation in the announced auction, as well as a set of technological tools for making bids and registration.