Cape Town Convention

The Cape Town Convention is an international agreement that simplifies the process of buying and financing movable assets like aircraft, ships, and rolling stock. It creates a standardized legal framework, making it easier for lenders to provide funding across different countries by providing clear rules on security interests and recovery. This reduces risks and costs for financiers, encouraging investment in these assets. The Convention also sets out procedures for dealing with default and insolvency, promoting transparency and confidence in international transactions involving movable property. Overall, it aims to facilitate global commerce by harmonizing laws relating to secured transactions.