This note begins the model-theoretic study of local real closed SV-rings of finite rank; to this end, a structure theorem for reduced local SV-rings of finite rank is given and branching ideals in local real closed rings of finite rank are analysed. The class of local real closed SV-rings of rank is elementary in the language of rings and its -theory has a model companion ; models of are -fold fibre products of non-trivial real closed valuation rings with isomorphic residue field . The -theory is complete, decidable, and NIP. After enriching with a predicate for the maximal ideal, models of have prime extensions in models of , and is the model completion of in this enriched language. A quantifier elimination result for is also given. The class of those local real closed SV-rings of rank which are -fold fibre products of non-trivial real closed valuation rings along surjective morphisms onto a non-trivial domain is elementary in the language of rings, and its -theory is also complete, decidable, and NIP; after enriching with predicates for the maximal ideal and the unique branching ideal, is model complete.

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