Convention on International Interests in Mobile Equipment

General Information

Category

Sub category

Groups

What is it about?

The Convention provides an international legal regime for the creation, perfection and priority of security, title retention and leasing interests in aircraft equipment, railway rolling stock and space assets, which will be underpinned by an International Registry. It has been estimated that such a regime could save very large sums of money annually in financing charges and open up to developing countries access to finance at reasonable cost.

Why is it relevant?

Prior to this Convention, interests in mobile equipment of high unit value regularly crossing national boundaries were exposed to risk and uncertainty created by differences in national laws governing security and related interests. This Convention removes some of this uncertainty, and encourages trade with developing countries.

Additional Information

A Protocol specifically addressing questions related to aircraft equipment was adopted in 2001. There is also an official commentary.

Related treaties

Download