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BEGINNER'S GUIDE TO THE INTERNATIONAL REGISTRY
01 April 2006
Scott Wilson of Pratt & Whitney discusses some of the practical aspects of dealing with the new international registry now that the Cape Town convention is in force.
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aircraft finance
Aviation
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March 1 2006 was the dawn of a new age in aircraft finance. That day the Cape Town Convention – so far ratified by nine countries – came into force.
Of the numerous benefits bestowed by the convention – formally known as The Convention on International Interests in Mobile Equipment and its Protocol on Matters Specific to Aircraft Equipment – one of the greatest is the creation of an international registry.
The international registry was open for user applications at 1430 GMT on February 21 and was open for the filing of registrations of international interests as required on March 1.
The international registry has been developed to be true to several of the convention's guiding principles: to be high-tech and accessible 24 hours a day, seven days a week; to be notice-based; to require the consent of both sides to a registration; to rely on drop-down lists to the extent feasible; and to be...
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