Key Benefits:
967 OF 2005
(July 13)
Official Journal No. 45.970 of 15 July 2005
By means of which the "Convention Relating to International Guarantees on Elements of Mobile Equipment" and its "Protocol on Specific Issues of the Elements of Aeronautical Equipment, of the Convention Relating to Guarantees" are approved. International on Mobile Equipment Elements ", signed in Cape Town on the sixteen (16) November of two thousand one (2001).
THE CONGRESS OF THE REPUBLIC
Having regard to the texts of the "Convention Relating to International Guarantees on Elements of Mobile Equipment" and its " Protocol on Specific Issues of the Elements of Aeronautical Equipment, of the Convention Relating to Guarantees International on Mobile Equipment Elements ", signed in Cape Town on the sixteen (16) November of two thousand one (2001), which to the letter say:
(To be transcribed: photocopies of the integrated texts of the mentioned International Instruments are attached).
BILL NUMBER 234 OF 2005 SENATE
by means of which the "Convention Relating to International Guarantees on Elements of Mobile Equipment" and its "Protocol on Specific Issues of the Elements of Aeronautical Equipment, of the Convention Relating to Guarantees" are approved. International on Mobile Equipment Elements ", signed in Cape Town on the sixteen (16) November of two thousand one (2001).
THE CONGRESS OF THE REPUBLIC
Having regard to the texts of the "Convention Relating to International Guarantees on Elements of Mobile Equipment" and its " Protocol on Specific Issues of the Elements of Aeronautical Equipment, of the Convention Relating to Guarantees International on Mobile Equipment Elements ", signed in Cape Town on the sixteen (16) November of two thousand one (2001), which to the letter say:
(To be transcribed: photocopies of the integrated texts of the mentioned International Instruments are attached).
CONVENTION ON INTERNATIONAL GUARANTEES ON MOBILE EQUIPMENT ITEMS
Signed in Cape Town on November 16, 2001
COPY CERTIFIED AS BEING IN CONFORMITY WITH THE ORIGINAL
THE SECRETARY-GENERAL
HERBERT KRONKE
CAPE TOWN
16 NOVEMBER 2001
CONVENTION ON INTERNATIONAL GUARANTEES ON MOBILE EQUIPMENT ITEMS
States Parties to this Convention,
Aware of the need to acquire and use mobile equipment of great value or particular economic importance and to facilitate the financing of the acquisition and use of such equipment efficiently,
Recognizing the benefits of guaranteed asset and lease financing for that purpose, and with the desire to facilitate those types of transactions by setting clear rules for governing them,
Aware of the need to ensure that guarantees on that equipment are universally recognized and protected,
Wishing to offer broad and reciprocal economic benefits to all stakeholders,
Convinced that such rules should reflect the principles underlying asset-guaranteed financing and leasing, and encourage the autonomy of the parties needed in these transactions,
Aware of the need to establish a legal framework for international guarantees on such equipment and, to this end, create an international registration system to protect these guarantees,
Taking into account the objectives and principles set out in the existing Conventions relating to that equipment,
Have agreed to the following provisions:
SCOPE AND GENERAL PROVISIONS
In this Convention, unless the context requires otherwise, the following terms are used with the following meaning:
a) "Contract" designates a surety contract, a contract with a domain reservation, or a lease;
(b) "Cession" means a contract which, by way of security or otherwise, confers on the transferee the right to accessories, with or without the transfer of the corresponding international guarantee;
(c) "ancillary rights" means all rights to payment or other form of execution by a debtor under a contract and which are guaranteed by or related to the object;
(d) "Start of insolvency proceedings" means the time when insolvency proceedings are deemed to be initiated under the applicable insolvency law;
e) "Conditional Buyer" designates a buyer under a domain reservation contract;
f) "Conditional Seller" designates a seller under a domain reservation contract;
g) "Sale Contract" designates a contract for the sale of an object by a seller to a buyer, but is not a "contract" as defined before in (a);
(h) "Court" means a judicial, administrative or arbitral jurisdiction established by a Contracting State;
(i) "Creditor" means a secured creditor under a surety contract, a conditional seller under a contract with a domain reservation or a lessor under a lease;
(j) "Debtor" means a grantor under a surety contract, a conditional buyer under a contract with a domain reservation, a tenant under a lease or a person whose right to a lease the object is taxed by a non-contractual right or guarantee that is eligible for registration;
(k) "insolvency manager" means a person authorised to administer the reorganisation or liquidation, including a person provisionally authorised, and includes a debtor in possession of the object if the insolvency law permits applicable;
(l) "insolvency proceedings" means bankruptcy, liquidation or other collective judicial or administrative proceedings, including provisional procedures, in which the debtor's property and business are subject to control or to the supervision of a court for the purposes of reorganisation or liquidation;
m) "Interested persons" means:
i) The debtor;
(ii) Any person who, for the purpose of ensuring compliance with one of the obligations in favour of the creditor, of or extends a bond or a guarantee to the view or a standby letter of credit or any other form of credit insurance;
iii) Any other person who has rights to the object;
(n) "Internal Transaction" means a transaction of one of the types listed in paragraphs (a) to (c) of Article 2 (2) or (2), where the place where the interests of all parties are concentrated in that transaction is located, and the the relevant object is found (as specified in the Protocol), in the same Contracting State at the time the contract is concluded and when the guarantee created by the transaction has been entered in a national register in that State a Contracting Party which has made a declaration pursuant to paragraph 1 of Article 50;
(o) "International guarantee" means a guarantee of which a creditor is a holder and to which Article 2o; applies.
p) "International registration" means the international registration offices established for the purposes of this Convention or of the Protocol;
q) "Lease Agreement" means a contract for which a landlord grants the right to own or control an object (with or without an option to purchase) a tenant in exchange for a rental or other form of payment;
(r) "National Guarantee" means a guarantee on an item of which a creditor is a holder and created by an internal transaction within a declaration provided for in Article 50;
s) "non-contractual law or guarantee" means a right or a guarantee granted under the law of a Contracting State which has made a declaration under Article 39 to ensure compliance with an obligation, including a an obligation on a State, a State entity or an intergovernmental or private organisation;
t) "Notice of national guarantee" means a notice entered or entered in the International Register that a national guarantee has been created;
u) "object" means an object belonging to a category to which Article 2o; applies.
v) "pre-existing law or guarantee" means a right or a guarantee of any kind on an object which is created or which is born before the date on which this Convention takes effect, as defined in paragraph 2 (a) of the Article 60;
w) "Compensation products" means the products of monetary or non-monetary compensation of an object, arising from the loss or physical destruction of the object, or its confiscation, expropriation or requisition, whether these are total or partial;
x) "Future Cession" means an assignment that is expected to be performed in the future, subject to the occurrence of an express event, whether or not it is certain to occur;
and) "Future international guarantee" means a guarantee that is intended to be created or constituted on an object as an international guarantee in the future, subject to an express event (which may include the acquisition of a right on that the debtor's object), whether or not it is certain to take place;
z) "Future Sale" designates a sale that is expected to be made in the future, subject to an express occurrence, whether or not it is certain to occur;
aa) "Protocol" means, in respect of any category of objects and ancillary rights to which this Convention applies, the Protocol relating to that category of objects and accessories;
bb) "Enrolled" means registered in the International Register under Chapter V;
cc) "Registered Guarantee" means an international guarantee, a right or a non-contractual guarantee that is eligible for registration or a national guarantee specified in a national guarantee notice entered under Chapter V;
(dd) "Non-contractual law or guarantee eligible for registration" means a right or a guarantee that can be registered under a declaration deposited in accordance with Article 40;
ee) "Registrar" means, in respect of the Protocol, the person or body designated by the Protocol or appointed in accordance with paragraph 2 (b) of Article 17;
(ff) "Regulation" means the regulation established or approved by the Supervisory Authority in accordance with the Protocol;
gg) "Sale" designates a transfer of ownership of an object under a sales contract;
hh) "Guaranteed obligation" means an obligation that is secured by a guarantee right;
(ii) "Contract of guarantee" means a contract by which the licensor gives or agrees to give to the secured creditor a right (including a right of ownership) on an object to ensure compliance with a present obligation or future of the grantor or a third party;
jj) "guarantee law" designates a right created by a surety contract;
kk) "Supervisory Authority" means, in respect of the Protocol, the Supervisory Authority referred to in paragraph 1 or Article 17;
ll) "Contract with domain reservation" designates a contract for the sale of an object with the stipulation that the property will not be transferred until the conditions set out in the contract are met;
mm) "Non-registered guarantee" means a contractual guarantee or a right or a non-contractual guarantee (which is not a guarantee to which Article 39 applies) which has not been registered, whether or not eligible for registration under the present Convention; and
nn) "Written" designates a record of information (including teletransmitted information) that exists in tangible or other form and may be reproduced in a tangible form thereafter, and which indicates by reasonable means the approval of a person.
ARTICLE 2o. INTERNATIONAL WARRANTY.
1. This Convention provides for a regime for the constitution and the effects of international guarantees on certain categories of elements of mobile equipment and ancillary rights.
2. For the purposes of this Convention, an international guarantee on movable equipment is a security lodged in accordance with Article 7o on an unambiguously identifiable object of one of the categories of such listed objects. in paragraph 3 and designated in the Protocol:
(a) Given by the licensor under a surety contract;
b) Corresponding to a person who is the conditional seller under a contract with a domain reservation; or
c) Corresponding to a person who is the lessor under a lease.
A guarantee referred to in paragraph (a) may not also be included in subparagraph (b) or (c).
3. The categories mentioned in the preceding paragraphs are:
a) Aircraft cells, aircraft engines and helicopters;
b) Rail rolling stock; and
c) Space equipment assets.
4. The applicable law determines whether a guarantee to which paragraph 2o applies is contained in subparagraph (a), (b) or (c) of that paragraph.
5. An international guarantee on an object extends to the compensation products of that object.
1. This Convention applies where, at the time of the conclusion of the contract which creates or provides for the international guarantee, the debtor is situated in a Contracting State.
2. The fact that the creditor is located in a non-Contracting State does not affect the applicability of this Convention.
ARTICLE 4. PLACE WHERE THE DEBTOR IS LOCATED.
1. For the purposes of paragraph 1 of Article 3o, the debtor is situated in any Contracting State:
a) Under whose law has been constituted or formed;
b) Where it has its registered office or its statutory seat;
c) What your central administration has; or
d) Where you have your establishment.
2. In paragraph (d) of the preceding paragraph, the reference to the establishment of the debtor means, if he has more than one establishment, his principal establishment or, if he has no commercial establishment, his habitual residence.
ARTICLE 5o. APPLICABLE INTERPRETATION AND LAW.
1. The interpretation of this Convention shall take into account its aims, as set out in the preamble, its international character and the need to promote its uniform and predictable application.
2. Questions relating to matters governed by this Convention and which are not expressly resolved therein shall be resolved in accordance with the general principles on which it is founded or, in the absence of such principles, in accordance with the provisions of this Convention. applicable law.
3. References to the applicable law are references to the rules of domestic law applicable under the rules of private international law of the State of the court that knows the case.
4. When a State encompasses several territorial units, each of which has its own legal rules regarding the matter to be decided upon, and where there is no indication of the relevant territorial unit, the law of that State decides which is the territorial unit whose rules will govern. In the absence of such rules, the law of the territorial unit with which the case has a narrower nexus shall apply.
ARTICLE 6o. RELATIONSHIP BETWEEN THE CONVENTION AND THE PROTOCOL.
1. This Convention and the Protocol should be considered and construed as a single instrument.
2. In the event of any disagreement between this Convention and the Protocol, the Protocol shall prevail.
CONSTITUTION OF INTERNATIONAL GUARANTEES
ARTICLE 7o. FORM REQUIREMENTS.
A guarantee is constituted as an international guarantee under this Convention when the agreement that creates or provides for it:
a) It is written;
b) This is related to an object from which the grantor, conditional seller, or lessor may dispose;
c) Allows you to identify the object in accordance with the Protocol; and
d) In the case of a surety contract, it allows the determination of the guaranteed obligations, but without the need to declare an amount or a maximum guaranteed quantity.
MEASURES TO BREACH OF OBLIGATIONS
ARTICLE 8o. SECURED CREDITOR MEASURES.
1. In the event of the non-compliance provided for in Article 11, the secured creditor may, in so far as the licensor has consented to it at any time and subject to any declaration that a Contracting State may make in accordance with with Article 54, one or more of the following measures:
a) Take possession or control of any object taxed to its advantage;
b) Sell or lease that object;
c) To receive or receive any income or benefit from the management or exploitation of that object.
2. The secured creditor may also choose to apply to the court for a decision authorising or ordering any of the acts referred to in the preceding paragraph.
3. Any measure provided for in paragraph 1 (a), (b) or (c) or in Article 13 shall apply in a commercially reasonable manner. A measure shall be deemed to be applied in a commercially reasonable manner where it is applied in accordance with the clauses of the guarantee contract, unless such clauses are manifestly excessive.
4. Any secured creditor who, in accordance with paragraph 1, proposes to sell or lease an object must give notice in advance of reasonable and written notice to:
(a) The persons concerned specified in paragraphs (i) and (ii) of paragraph (m) of Article 1o; and
(b) The persons concerned specified in paragraph (iii) of Article 1 (m) or who have given notice of their rights to the secured creditor at reasonable time for sale or for the lease.
5. Any amount collected or received by the secured creditor as a result of any of the measures provided for in paragraph 1 or 2 shall be charged to the payment of the amount of the guaranteed obligations.
6. Where the amounts collected or received by the secured creditor as a result of any of the measures provided for in paragraph 1 or 2 exceed the amount guaranteed by the right of guarantee and the reasonable costs incurred due to one of those measures, and unless the court decides otherwise, the secured creditor shall distribute the surplus among the holders of the lower-ranking guarantees which have been entered or which he has been informed of, by order of priority, and will pay the remaining balance to the grantor.
ARTICLE 9o. TRANSFERRING THE OBJECT AS AN OBLIGATION SATISFACTION; RELEASE.
1. At any time after the non-compliance provided for in Article 11, the secured creditor and all interested persons may agree that the property of an object taxed by the right of guarantee (or any other right of the licensor on that object) is transferred to that creditor in order to satisfy all or part of the guaranteed obligations.
2. The court may order, at the request of the secured creditor, that the property of an object taxed by the right of guarantee (or any other right of the grantor on that object) is transferred to that creditor to satisfy all or part of the the guaranteed obligations.
3. The court shall make a request pursuant to the preceding paragraph only where the amount of the guaranteed obligations to be met by the transfer corresponds to the value of the item, taking into account the payments the secured creditor is required to make any of the persons concerned.
4. At any time after the non-compliance provided for in Article 11 and before the sale of the subject matter or before the provisions of paragraph 2o are ordered, the licensor or any interested person may cancel the right of guarantee. paying in full the guaranteed amount, subject to any lease granted by the creditor guaranteed under paragraph (b) of paragraph 1 of Article 8 or ordered in accordance with paragraph 2 of Article 8. Where, after the non-compliance, a person concerned who is not the debtor makes full payment of the guaranteed amount, that person subrogates the secured creditor in his rights.
5. The property or any other right of the licensor transferred for the purpose of the sale provided for in paragraph 1 (b) of or in accordance with paragraphs 1 or 2 of this Article is free from any other guarantee in respect of the the guaranteed creditor's right of guarantee takes precedence under the provisions of Article 29.
ARTICLE 10. MEASURES OF THE CONDITIONAL SELLER OR THE LANDLORD.
In the event of non-compliance in a contract with a domain reservation or a lease as provided for in Article 11, the conditional seller or the lessor, as the case may be, may:
(a) Subject to any declaration that a Contracting State may formulate in accordance with Article 54, terminate the contract and take possession or control of the object to which the contract relates; or
(b) Ask the court for a decision authorising or ordering any of the above.
ARTICLE 11. MEANING OF DEFAULT.
1. The debtor and the creditor may agree in writing at any time which cases constitute non-compliance or permit the application of the measures and the exercise of the rights set out in Articles 8 to 10 and 13.
2. Where the debtor and the creditor have not agreed, for the purposes of Articles 8 to 10 and 13, 'non-compliance' means a breach that substantially deprives the creditor of what he has the right to expect under the contract.
ARTICLE 12. ADDITIONAL MEASURES.
Any additional measure permitted by applicable law, including any measure agreed upon by the parties, may be exercised to the extent that it is not incompatible with the mandatory provisions of this Chapter, as set out in Article 15.
ARTICLE 13. PROVISIONAL MEASURES SUBJECT TO THE FINAL DECISION.
1. Subject to any declaration which may be made in accordance with Article 55, any Contracting State must ensure that the creditor who submits proof of non-compliance with the obligations of the debtor can obtain promptly from a court, prior to the final decision of his or her claim and to the extent that the debtor has consented to it at any time, one or more of the following measures, as requested by the creditor:
a) The preservation of the object and its value;
b) The possession, control or custody of the object;
c) The quiesce of the object; and
(d) The lease or management of the object except in the cases referred to in paragraphs (a) to (c), and the income thus produced.
2. When ordering a measure referred to in the preceding paragraph, the court may impose the conditions it deems necessary to protect the persons concerned if the creditor:
(a) When complying with an order imposing such a measure, it does not comply with any of its obligations to the debtor under this Convention or the Protocol; or
b) You cannot support your claim, in whole or in part, when making a final decision on that claim.
3. Before issuing an order in accordance with paragraph 1, the court may require that any person concerned be notified of the request.
4. None of the provisions of this Article affect the application of paragraph 3 of Article 8 or limit the possibility of obtaining other provisional measures, apart from those provided for in paragraph 1.
ARTICLE 14. PROCEDURE REQUIREMENTS.
Subject to paragraph 2 of Article 54, any measure provided for in this Chapter shall be applied in accordance with the procedure prescribed by the law of the place to be applied.
In your reciprocal relations, two or more of the parties mentioned in this Chapter may at any time, by written agreement, not apply or modify the effects of any of the foregoing provisions of this Chapter, except for paragraphs 3 to 6 of Article 8, paragraphs 3 and 4 of Article 9 or paragraph 2 of Article 13 and Article 14.
INTERNATIONAL ENROLLMENT SYSTEM
ARTICLE 16. INTERNATIONAL RECORD.
1. An International Register shall be established for the registration of:
(a) International guarantees, future international guarantees and non-contractual rights and guarantees that are eligible for registration;
b) Future business and future disposals of international guarantees;
(c) Procurement of international guarantees by legal or contractual subrogation under applicable law;
d) Notices of national guarantees; and
e) Range subordination agreements to the guarantees referred to in the previous paragraphs.
2. Different international registrations may be established for different categories of objects and ancillary rights.
3. For the purposes of this Chapter and Chapter V, the term "registration" includes, where applicable, the modification, extension or cancellation of an entry.
ARTICLE 17. SUPERVISORY AND REGISTRAR AUTHORITY.
1. There shall be a Supervisory Authority as provided for in the Protocol.
2. The Supervisory Authority:
a) It shall establish or prevent the establishment of the International Register;
(b) Unless otherwise provided for in the Protocol, the Registrar shall be appointed and shall terminate his/her duties;
(c) Ensure that all rights necessary for the effective and continuous operation of the International Register in the event of a change of Registrar shall be transferred or may be transferred to the new Registrar;
d) After consultation with the Contracting States, it shall dictate or approve regulations on the operation of the International Register under the Protocol and ensure its publication;
e) Establish administrative procedures to present to the Supervisory Authority complaints concerning the operation of the International Register;
f) Monitor the Registrar and the operation of the International Register;
g) At the request of the Registrar, it shall provide the Registrar with the guidance deemed relevant by the Supervisory Authority;
h) Establish and periodically review the tariff structure of the rights to be charged for the services and facilities of the International Registry;
i) Take all necessary steps to ensure the existence of an efficient electronic registration system at the request of the data subject in order to meet the objectives of this Convention and the Protocol; and
(j) It shall regularly inform the Contracting States of the fulfilment of its obligations under this Convention and the Protocol.
3. The Supervisory Authority may conclude the arrangements necessary for the non-performance of its tasks, including any agreement referred to in paragraph 3 of Article 27.
4. The Supervisory Authority shall have all ownership rights to the databases and files of the International Register.
5. The Registrar shall ensure the efficient functioning of the International Register and shall carry out the tasks assigned to it by this Convention, the Protocol and the Regulation.
OTHER ENROLLMENT ISSUES
ARTICLE 18. ENROLLMENT REQUIREMENTS.
1. The Protocol and the Regulation shall specify the requirements, including the criteria for the identification of the object:
(a) Enrollment (which will prevent the prior transmission by electronic means of the consent of any person whose consent is required in accordance with Article 20);
b) Perform queries and issue query certificates; and, subject to this,
c) Ensure the confidential nature of the information and documents of the International Register other than information and documents relating to an inscription.
2. The Registrar shall not be required to verify whether the consent for registration under Article 20 has been given or is valid.
3. Where a guarantee entered as a future international guarantee becomes an international guarantee, no additional registration will be required, provided that the information contained in the registration is sufficient to register a guarantee
4. The Registrar shall provide that the inscriptions are incorporated in the database of the International Register and may be consulted in chronological order of receipt, and in the case shall consist of the date and time of receipt.
5. The Protocol may provide that a Contracting State may designate in its territory one or more entities as access points by means of which the information necessary for the international registration may be transmitted or transmitted to the International Register. registration. A Contracting State making that designation may specify the requirements, if any, to be met before such information is transmitted to the International Register.
ARTICLE 19. VALIDITY AND DATE OF REGISTRATION.
1. An entry shall be valid only if it has been effected in accordance with Article 20.
2. An entry, if valid, will be complete when the required information is incorporated into the international registration database so that it can be consulted.
3. An entry may be consulted for the purposes of the preceding paragraph when:
a) The international registry has assigned to the enrollment a case number according to a sequential order; and
(b) The information in the registration, including the file number, is preserved in a durable manner and can be accessed in the International Register.
4. If a guarantee initially entered as a future international guarantee becomes an international guarantee, such an international guarantee will be considered as registered from the moment of the registration of the future international guarantee, always that the latter registration was still in force immediately before the international guarantee was established in accordance with Article 7o.
5. The above paragraph applies, with the necessary modifications, to the registration of a future transfer of an international guarantee.
6. An entry may be consulted in the database of the International Register in accordance with the criteria prescribed in the Protocol.
ARTICLE 20. CONSENT FOR ENROLLMENT.
1. An international guarantee, a future international guarantee or a transfer or a future transfer of an international guarantee may be entered, and such registration may be amended or extended before its expiry, by any of the parties with the written consent of the other.
2. The subordination of an international guarantee to another international guarantee may be entered by the person whose warranty has been subordinated or with his written consent given at any time.
3. An enrollment may be canceled by the receiving party or with written consent.
4. The acquisition of an international guarantee by legal or contractual subrogation may be entered by the subrogant.
5. A right or a non-contractual guarantee that can be registered may be entered by the holder.
6. The notice of a national guarantee may be entered by the holder of the guarantee.
ARTICLE 21. DURATION OF ENROLLMENT.
The registration of an international guarantee remains valid until its cancellation or until the expiration of the period specified in it.
1. Any person may, in the manner prescribed in the Protocol and the Regulation, consult the International Register or request a consultation by electronic means regarding future international guarantees or guarantees entered in the Protocol.
2. When receiving a request for consultation, the Registrar shall issue, in the form prescribed by the Protocol and the Regulation, a certificate of consultation of the register by electronic means with respect to an object:
a) In which all the information entered relating to the object and the date and time of registration of such information is recorded; or
b) On the record that there is no information about the object in the International Register.
3. A certificate of consultation issued in accordance with the preceding paragraph shall indicate that the creditor referred to in the registration information has acquired or intends to acquire an international guarantee on the subject, but shall not indicate whether the which is registered is an international guarantee or a future international guarantee, even if this can be verified on the basis of the relevant registration information.
ARTICLE 23. LIST OF DECLARATIONS AND NON-CONTRACTUAL RIGHTS OR GUARANTEES DECLARED.
The Registrar will maintain a list of statements, withdrawals of statements and of the categories of rights and non-contractual guarantees communicated to the Registrar by the Depositary as they have been declared by the Contracting States of compliance with Articles 39 and 40 and the date of each declaration or withdrawal of declaration. Such a list shall be registered in such a way as to be consulted by the name of the reporting State and shall be available to any person requesting it, in accordance with the modalities prescribed in the Protocol and the Regulation.
ARTICLE 24. CERTIFICATE VALUE OF THE CERTIFICATES.
A document with the form prescribed in the regulation, which is presented as a certificate issued by the International Register, constitutes initial proof:
a) That it was issued by the International Register; and
b) Of the facts mentioned in that document, including the date and time of an inscription.
ARTICLE 25. CANCELLATION OF ENROLLMENT.
1. Where the obligations secured by a registered guarantee right or the obligations arising from a non-contractual right or guarantee which are subject to registration have been extinguished, or where the conditions for the transfer of ownership under a contract with registered domain reservation have been satisfied, the holder of such guarantee shall cancel the registration, without undue delay, before the written request of the debtor delivered or received in his address indicated in the enrollment.
2. Where a future international guarantee or future transfer of an international guarantee has been entered, the future creditor or the future transferee shall cancel the registration, without undue delay, before the written request of the future debtor or a transferor delivered or received at the address indicated in the registration before the future creditor or transferee forward funds or has committed to do so.
3. Where the obligations guaranteed by a national guarantee specified in a registered national guarantee notice have been extinguished, the holder of the guarantee shall cancel the registration, without undue delay, before the written request of the debtor delivered or received at his address indicated in the registration.
4. Where registration is not due or incorrect, the person on whose behalf the registration was made shall cancel or amend, without undue delay, the written request of the debtor delivered or received at his/her address. in the enrollment.
ARTICLE 26. ACCESS TO INTERNATIONAL REGISTRATION OFFICES.
No one shall be denied access to the registration and consultation offices of the International Register for any reason, except for failure to comply with the procedures prescribed in this Chapter.
SUPERVISORY AND REGISTRAR AUTHORITY PRIVILEGES AND IMMUNITIES
ARTICLE 27. LEGAL PERSONALITY; IMMUNITY.
1. The Supervisory Authority shall have international legal personality in the event that it no longer owns it.
2. The Supervisory Authority and its officials and employees shall enjoy immunity from judicial or administrative proceedings as specified in the Protocol.
3. (a) the Supervisory Authority shall enjoy tax exemption and other privileges provided for by agreement with the host State;
(b) For the purposes of this paragraph, "Host State" means the State in which the Supervisory Authority is situated.
4. The goods, documents, databases and archives of the International Register shall be inviolable and shall not be subject to abduction or to any judicial or administrative proceedings.
5. For the purposes of any complaint against the Registrar pursuant to paragraph 1 of Article 28 or Article 44, the claimant shall have the right of access to the information and documents necessary to enable him to make his reclamation.
6. The supervisory authority may give effect to the inviolability and immunity conferred by paragraph 4.
LOGGER RESPONSIBILITY
ARTICLE 28. FINANCIAL LIABILITY AND GUARANTEES.
1. The Registrar shall be responsible for the compensatory allowance for the loss of a person as a direct result of an error or omission by the Registrar, and of his officials and employees, or of the malfunction of the registration system. international, except where the malfunction is caused by an unavoidable and irresistible fact, which cannot be avoided by the use of best practices currently in use in the field of design and operation of the electronic records, including those relating to backup copies and to security and network operation of the systems.
2. The Registrar shall not be liable, in accordance with the preceding paragraph, for the factual inaccuracy of the information received by the Registrar or transmitted by the Registrar in the manner in which it was received, or for acts or circumstances of which neither the Registrar and its officials and employees are responsible, prior to the receipt of the information regarding the registration in the International Register.
3. The compensation provided for in paragraph 1 may be reduced to the extent that the injured person has caused the damage or contributed to it.
4. The Registrar shall contract insurance or a financial guarantee covering the liability referred to in this Article to the extent determined by the Supervisory Authority in accordance with the Protocol.
EFFECTS AGAINST THIRD PARTIES OF INTERNATIONAL GUARANTEES
ARTICLE 29. RANGE OF CONCURRENT WARRANTIES.
1. A registered guarantee takes precedence over any other registered post and on an unregistered warranty.
2. The priority of the guarantee referred to first in the preceding paragraph applies:
(a) Even if the guarantee mentioned above has been constituted or registered with knowledge of the other guarantee; and
(b) Even as regards any advance of funds made by the holder of the guarantee referred to first having such knowledge.
3. Buyer of an object acquires rights over this:
(a) Gravered by guarantees already entered at the time of acquisition of their rights; and
b) Free of any unregistered warranty, even if you have knowledge of it.
4. The conditional buyer or tenant acquires rights to that object:
(a) Gravised by the guarantees entered before the registration of the international guarantee of which the conditional seller or the lessor are holders; and
b) Free of any warranty not entered on that date, even if you have knowledge of it.
5. The range of collateral or rights under this Article may be modified by agreement of the holders of such guarantees, but a subordination agreement does not oblige the transferee of a subordinated guarantee, unless in the the time of the assignment is a subordination of rank relative to that agreement.
6. Any priority given by this Article to a guarantee on an item is extended to compensation products.
7. This Convention shall:
a) It does not affect the rights that a person has on an item, which is not an object, prior to the installation of the item on an object if the rights continue to exist after the installation under applicable law; and
b) Does not prevent the creation of rights to an item, which is not an object, previously installed on an object, when those rights are created under applicable law.
ARTICLE 30. EFFECTS OF INSOLVENCY.
1. In insolvency proceedings against the debtor, an international guarantee has an effect if the guarantee was entered before the commencement of such proceedings and in accordance with this Convention.
2. None of the provisions of this article decreases the effectiveness of an international guarantee in insolvency proceedings when such collateral has an effect under applicable law.
3. None of the provisions of this article affect:
(a) The rules of law applicable in insolvency proceedings relating to the invalidation of a transaction through a preferential arrangement or a transfer in fraud of the rights of creditors
or(b) Rules of procedure relating to the enforcement of property rights under the control or supervision of the insolvency administrator.
ASSIGNMENT OF INTERNATIONAL ACCESSORIES AND GUARANTEES; SUBROGATION RIGHTS
ARTICLE 31. EFFECTS OF THE ASSIGNMENT.
1. Unless otherwise agreed by the parties, the transfer of ancillary rights pursuant to Article 32 shall also transfer to the transferee:
a) The corresponding international guarantee; and
(b) All rights of the transferor and his/her rank under this Convention.
2. None of the provisions of this Convention precludes a partial transfer of the ancillary rights of the transferor. In the case of a partial transfer, the transferor and the transferee may agree on their respective rights related to the corresponding international guarantee given under the preceding paragraph, but not to adversely affect the debtor without their consent.
3. Subject to paragraph 4, the applicable law shall determine the exceptions and the rights of compensation which the debtor may invoke against the transferee.
4. The debtor may waive at any time, by written agreement, all or any of the exceptions and the rights of compensation referred to in the preceding paragraph other than exceptions arising from fraudulent acts of the transferee.
5. In the case of an assignment for a guarantee, the ancillary rights transferred back to the transferor, to the extent that they still exist, when the obligations guaranteed by the transfer are cancelled.
ARTICLE 32. REQUIREMENTS IN THE FORM OF THE ASSIGNMENT.
1. The transfer of ancillary rights transfers the relevant international guarantee only when:
a) It is written;
b) Allows you to identify the ancillary rights to the contract in which they originate; and
(c) In the case of a transfer by way of security, it is possible to determine the obligations secured in accordance with the Protocol, but without the need to declare an amount or a maximum guaranteed quantity.
2. The transfer of an international guarantee as collateral shall not be valid unless some or all ancillary rights related to it are also given.
3. This Convention does not apply to an assignment of ancillary rights which does not have the effect of transferring the international guarantee related thereto.
ARTICLE 33. DEBTOR ' S OBLIGATION TO THE TRANSFEREE.
1. To the extent that the ancillary rights and the corresponding international guarantee have been transferred in accordance with Articles 31 and 32, the debtor of the obligation in relation to those rights and that guarantee is bound by the transfer and must pay the transferee or execute another obligation for the transferee, but only when:
(a) The debtor has been given written notice of the transfer, either directly by the transferor or with the consent of the latter; and
b) The warning is identified as the accessory rights.
2. The payment or enforcement of the obligation shall release the debtor if they are made in accordance with the preceding paragraph, without prejudice to any other form of payment or execution that is equally liberatory.
3. None of the provisions in this article will affect the range of concurrent disposals.
ARTICLE 34. MEASURES IN CASE OF NON-EXECUTION OF AN ASSIGNMENT FOR A GUARANTEE.
In the event of non-compliance with the transferor with respect to its obligations under the transfer of ancillary rights and the corresponding international guarantee under guarantee, Articles 8, 9 and 11 to 14 apply in the relations between the the transferor and the transferee (and, in respect of the ancillary rights, apply to the extent that those provisions can be applied to intangible assets) as if the references:
(a) The guaranteed obligation and the right of guarantee are references to the obligation guaranteed by the transfer of the ancillary rights and the corresponding international guarantee and the right of guarantee created by the transfer;
b) The secured creditor or creditor and the grantor or debtor were references to the transferee and the transferor;
(c) The holder of the international guarantee shall be references to the transferee; and
(d) The object is references to the assigned ancillary rights and to the corresponding international guarantee.
ARTICLE 35. RANGE OF CONCURRENT DISPOSALS.
1. Where there are concurrent transfers of ancillary rights and at least one of the disposals includes the corresponding international guarantee and is registered, the provisions of Article 29 apply as if the references to a guarantee registered references to the transfer of the ancillary rights and the corresponding international guarantee and as if the references to a registered or non-registered guarantee were references to an entry entered or not registered.
2. Article 30 applies to a transfer of ancillary rights as if the references to an international guarantee were references to a transfer of ancillary rights and the corresponding international guarantee.
ARTICLE 36. PRIORITY OF THE TRANSFEREE WITH RESPECT TO ANCILLARY RIGHTS.
1. The transferee of ancillary rights and of the corresponding international guarantee whose disposal has been registered has, pursuant to paragraph 1 of Article 35, on another transferee of the ancillary rights only:
a) If the contract on which the accessorial rights are sourced establishes that they are guaranteed by the object or related to the object; and
b) To the extent that the accessory rights are related to the object.
2. For the purposes of paragraph (b) of the preceding paragraph, the ancillary rights are related to an object only to the extent that they consist of rights to the payment or to the execution of the obligation relating to:
a) An advanced quantity used for the purchase of the object;
(b) An amount advanced and used for the purchase of another item on which the transferor had another international guarantee, if the transferor transferred that guarantee to the transferee and the transfer has been entered;
c) The price to be paid for the object;
d) The rentals to be paid for the object; or
e) Other obligations that originate in a transaction mentioned in any of the preceding paragraphs.
3. In all other cases, the range of concurrent disposals of the ancillary rights shall be determined by applicable law.
ARTICLE 37. EFFECTS OF THE INSOLVENCY OF THE TRANSFEROR.
The provisions of Article 30 apply to the insolvency proceedings of the transferor as if the references to the debtor were references to the transferor.
1. Subject to paragraph 2o, none of the provisions of this Convention affect the acquisition of ancillary rights and the corresponding international guarantee for legal or contractual subrogation under the applicable law.
2. The holders of a right in the preceding paragraph and of a concurrent right may modify the range of their respective rights by written agreement, but the transferee of a subordinated guarantee is not bound by an agreement of the subordination of that guarantee, unless a subordination relating to that agreement has been registered at the time of the transfer.
RIGHTS OR WARRANTIES SUBJECT TO STATEMENTS BY CONTRACTING STATES
ARTICLE 39. NON-ATTACHED RIGHTS THAT HAVE PRIORITY.
1. A Contracting State may at any time declare in a declaration deposited with the Depositary of the Protocol in general or specifically:
(a) categories of rights or non-contractual guarantees (other than a right or guarantee to which Article 40 applies) which under the law of that State have on a guarantee relating to an object a priority equivalent to that of the the holder of an international guarantee entered and who shall have priority over an international guarantee entered, in the framework of insolvency proceedings or not; and
(b) That none of the provisions of this Convention shall affect the right of a State or a State entity, an intergovernmental organization or other public service provider to seize or detain an object under the laws of the State or entity. of that State for the payment of the amounts due to that entity, organisation or supplier in direct relation to those services in respect of that object or other object.
2. A statement made in accordance with the preceding paragraph may be expressed in such a way as to include the categories created after the deposit of that declaration.
3. A non-contractual right or guarantee has priority over an international guarantee only if they are of a category contained in a declaration deposited prior to the registration of the international guarantee.
4. Without prejudice to the provisions of the preceding paragraph, a Contracting State may, at the time of ratification, acceptance or approval of the Protocol, or accession thereto, declare that a right or a guarantee of a category of a declaration made pursuant to paragraph 1 (a) or shall take precedence over an international guarantee entered before the date of ratification, acceptance, approval or accession.
ARTICLE 40. NON-CONTRACTUAL RIGHTS AND GUARANTEES WHICH ARE SUBJECT TO REGISTRATION.
A Contracting State may at any time, in a declaration deposited with the Depositary of the Protocol, submit a list of the categories of non-contractual rights or guarantees which may be registered under this Convention. in respect of any category of objects as if those rights or guarantees are international guarantees, and shall be regulated as such. Such a declaration may be amended periodically.
