The International Convention on Maritime Liens and Mortgages

The International Convention on Maritime Liens and Mortgages is a treaty that establishes rules regarding the rights of those who lend money or provide services to ships. It ensures that if a shipowner fails to pay debts or obligations, creditors can claim a lien—essentially a legal right to take possession of the ship or its value. The convention aims to create a standardized approach across countries, making it easier for businesses in the shipping industry to understand their rights and obligations in financial matters related to maritime commerce.