Cape Town Treaty

The Cape Town Convention on International Interests in Mobile Equipment, or Cape Town Treaty is an international treaty intended to standardize transactions involving movable property. The treaty creates international standards for registration of ownership (including dedicated registration agencies), security interests (liens), leases and conditional sales contracts, and various legal remedies for default in financing agreements, including repossession and the effect of particular states' bankruptcy laws.

Three protocols to the convention are specific to three types of movable equipment: Aircraft Equipment (aircraft and aircraft engines; signed in 2001), railway equipment (signed in 2007) and space assets (signed in 2012).

The treaty resulted from a diplomatic conference held in Cape Town, South Africa in 2001. The conference was attended by 68 countries and 14 international organizations. 53 countries signed the resolution proposing the treaty . The Convention portion of the treaty came into force on April 1, 2004, and has been signed by 28 countries. The Protocol (which applies specifically to aircraft and aircraft engines ) took effect on March 1, 2006 when it was ratified by 8 countries: Ethiopia, Ireland, Malaysia, Nigeria, Oman, Panama, Pakistan, and the United States.

Read more about Cape Town Treaty:  Signatures and Ratifications

Other articles related to "cape, town":

Zalma, Missouri - History
... of Major George Frederick Bollinger, who settled on Whitewater and founded Burfordville in Cape Girardeau County ... The next morning, William Nevins, who was a miller there, came to town and with others was surveying the ruins when they discovered the iron bands of a wooden barrel which was supposed to have ... This building was located at the northeast corner of Green and Nora streets, and north of the town cemetery ...

Famous quotes containing the words treaty, cape and/or town:

    There is between sleep and us something like a pact, a treaty with no secret clauses, and according to this convention it is agreed that, far from being a dangerous, bewitching force, sleep will become domesticated and serve as an instrument of our power to act. We surrender to sleep, but in the way that the master entrusts himself to the slave who serves him.
    Maurice Blanchot (b. 1907)

    Round the cape of a sudden came the sea,
    And the sun looked over the mountain’s rim:
    And straight was a path of gold for him,
    And the need of a world of men for me.
    Robert Browning (1812–1889)

    The town is silent. The night boils with eleven stars.
    Oh starry starry night! This is how
    I want to die.
    Anne Sexton (1928–1974)