Aircraft Object Security Agreement

1. When obligations guaranteed by registered securities interest or commitments that give rise to a registered non-consensual interest or interest are met or if the conditions for transfer of ownership are met in the context of a registered property reserve, the holder of that interest immediately acquires the discharge of the registration upon written request of the debtor who delivered at his address indicated in the registration or whose address has recorded. the practical application of this Convention and its effectiveness in facilitating the financing and leasing by assets of assets under its terms; 1. This Convention enters into force on the first day of the month following three months after the third ratification instrument is tabled; 6. An applicant who requests the dissubation and export of an aircraft in accordance with paragraph 1 is an international contract designed to standardize transactions involving personal property. The agreement establishes international standards for the registration of sales contracts, security interests and leasing contracts and provides remedies for late payment in financing contracts, including withdrawal and the effects of bankruptcy and insolvency laws. There are three protocols to the Convention that are specific to three types of mobile equipment: aircraft equipment, railway equipment and space installations. If the creditor wishes to obtain the disinscribing of the aircraft and obtain the export and physical transfer of the aircraft object, the civil registry authority and the administrative authorities of a contracting state cooperate quickly with these remedies and assist them in carrying out these corrective measures within five working days of the date on which the creditor informs these authorities that he has the right to obtain these remedies in accordance with the at the convention.

Updated: April 8, 2021 — 6:01 am