International Convention on the Rights of Secured Transactions

The International Convention on the Rights of Secured Transactions establishes uniform rules for creating, registering, and enforcing security interests (like collateral) across different countries. It aims to make cross-border transactions safer and more predictable by providing clear legal standards. This helps businesses and lenders know their rights and obligations when using assets as collateral internationally, reducing uncertainties and legal risks involved in financing global trade. Essentially, it standardizes how security interests are handled across borders, facilitating smoother international commercial activities.