Model Law on Secured Transactions

The Model Law on Secured Transactions is a legal framework designed to simplify and harmonize the way secured loans are handled across different jurisdictions. It outlines rules for creating, registering, and enforcing security interests in personal property, ensuring that lenders can reclaim assets if borrowers default. By standardizing these processes, the Model Law aims to increase access to credit, reduce risks for lenders, and promote fair treatment for borrowers. It encourages transparency and efficiency in secured transactions, benefiting both businesses and consumers in the credit market.