The following terms and phrases – wherever they appear in these rules – shall have the meanings indicated next to them unless the context requires otherwise:
Rules: The operational rules of the Entrustment and Liquidation Center.
The Center: Entrustment and Liquidation Center.
The Committee: A committee formed by the Executive President responsible for studying registration requests.
Service Provider: The person licensed to provide technical services related to liquidation.
Entrusted Party: Service provider to whom tasks and works related to liquidation are assigned.
Sale Committee: A committee formed by the Executive President responsible for applying all rules and procedures approved by the Center on the sale process and supervising it.
Operations Committee of the Entrustment and Liquidation Center: A committee formed by the Executive President responsible for receiving, opening, and analyzing offers technically and financially, and for submitting its recommendations for awarding to the Executive President.
Parties to the Relationship: The executor, the executed against, the service provider, and the Entrustment and Liquidation Center.
Competent Authorities: Courts and all government agencies.
The Entrusting Authority: Governmental and semi-governmental entities, the private sector, and individuals.
Entrusting Sale and Liquidation Works to the Center: The reliance of judicial and governmental authorities and stakeholders on the Entrustment and Liquidation Center as an independent public administrative entity for all necessary works and tasks of partition or liquidation and sale.
Heirs: Any entitled person to the estate whose name appears in the Determination of Heirs document.
Exit Agreement: An agreement among the heirs to leave some of them their share – the full and known share from the estate not encumbered by debts – to others in exchange for a known compensation.
Waiver: An agreement among the heirs to leave some of them their share or part of it known to them from the estate to others without compensation or to a third party.
The rules apply to all service providers, including, for example:
2.1 Sales Agent.
2.2 Resident.
2.3 Engineer.
2.4 Attorney.
2.5 Certified Accountant.
2.6 Judicial Custodian.
2.7 Judicial Receiver.
2.8 Enumerator.
2.9 Administrative Consultant.
2.10 International/External Service Provider.
The following conditions must be met by the registration applicant:
3.1 Must be licensed by the competent authority.
3.2 Submit a registration application through the center's dedicated platform and fulfill the requirements outlined on the registration platform.
The center may, when necessary, engage an unregistered or unlicensed service provider, provided that the engagement is justified.
A committee shall be formed at the center - by a decision of the Chief Executive Officer - to undertake the following:
5.1 Study the registration claims submitted to the center, examine them, and raise the necessary recommendations regarding their acceptance or rejection.
5.2 Inquire from the claimant, or from the relevant parties, as needed - when studying the registration claim - for any information or clarifications regarding the submitted claim; so that it can raise the necessary recommendations regarding the acceptance or rejection of the registration claim based on that.
5.3 Submit to the competent authority a request for the issuance of a temporary license for an unlicensed service provider that necessitated contracting with.
A special register is established at the center for each service provider registered with it, and the register shall include the following:
6.1 Copies of the certificates and licenses submitted upon registration, updated when the register data is modified.
6.2 Previous projects and their evaluation.
6.3 License status.
6.4 Penalties and warnings imposed on it and the date of their imposition.
The service provider has the right to request the amendment of the data contained in its record, in accordance with the approved form.