Small fishfarmers do not usually own properties and land to cultivate, relying only on leased fishpond areas covered by Fishpond Lease Agreements (FLAs) issued to them by the government. While the provision of FLAs primarily encourage the development of the country's aquaculture areas, the non-valuation of banks proved to be discouraging to prospective fishfarmers who want to avail of financing for their aquaculture development projects. This paper discusses the issue of the non-acceptability of FLAs as loan collateral and provide some recommendations.
