The Convention on Maritime Liens and Mortgages

The Convention on Maritime Liens and Mortgages is an international treaty that establishes rules regarding liens (legal claims) and mortgages related to ships. It aims to protect the rights of those who provide services or loans related to maritime activities. For instance, if a shipowner borrows money or a supplier provides goods, this convention helps clarify how their claims on the ship are prioritized and enforced if the owner defaults. By standardizing these rules across countries, the convention seeks to promote fairness and predictability in maritime commerce and financing.