ON THE PROTOCOL TO THE CONVENTION ON INTERNATIONAL INTERESTS IN MOBILE EQUIPMENT ON MATTERS SPECIFIC TO AIRCFRAFT EQUIPMENT

Some highlights:

• What?

The protocol shall apply to the agreements about international interests, to contracts of sales of international interests, to prospective international interests, to sales, and to prospective sales; it also includes the matter related with helicopters and airframes.

• Why?
  

This protocol was created to regulate the international interests as regards with the aircrafts equipment, the requirements for making the contracts about international interests, the regulations of the International Registry and the supervisory authority, the jurisdiction in case of conflicts, and the remedies provided to the parties involved.

• Whow?

Requirements for the contract of sale (5). Requirements for the description of aircraft objects (7). Along with the remedies in Chapter III, the creditor has other faculties (9, 10.6). About the reasonable prior notice in matters of sales or leases (9.4). About de-registration and export request authorization (13.2, 13.3). Debtor’s rights (16). About the supervisory authority and the registrar (17). Modifications regarding to the registry provisions (20). About the reservations and declarations (32), the withdrawal of declarations (34), and the denunciations (35). The depositary will be UNIDROIT.

• Strengths:

The registration of a contract of sale remains effective indefinitely. The remedies shall be applied in a commercially reasonable manner (9.3). The contracting States should designate entry points in their territories (19).

• Opportunities:

The protocol contains two alternatives for the exercise of remedies on insolvency (11).

• weaknesses:

The parties in a contract may agree on the law which is to govern their contract (8.3).

• Threats:

About the waivers of sovereign immunity (22). About the articles 10, 11, 21 the State should make a declaration if these articles would be applied in their territories.

• Correlated with:

Convention on the International Recognition of Rights in Aircraft; Convention for the Unification of Certain Rules Relating to the Precautionary Attachment of Aircraft; UNIDROIT Convention on International Financial Leasing; Ley de Aviación Civil; Convenio de Chicago de 1944.para modificar.

* By: Gabriela García Escobar

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