Jetrader - Summer 2014 - 23
CAPE TOWN:
Global Treaty Expands Thanks to Benefits
Offered, Advanced Information Base
ISTAT among those helping mobile-assets treaty
improve efficiency in aircraft trading
I
In less than 10 years, the unique global
treaty on leasing and financing of commercial aircraft known as the Cape Town
Convention has become the centerpiece of
international aircraft trading and a driving force in attracting more capital to the
aviation space.
Since it came into full force and effect
in 2006, the Convention, as the treaty covering commercial mobile assets including
aircraft, spacecraft and rail equipment is
formally known, and its specific Aircraft
Protocol, have created a legal framework
that expands the sources for aircraft
financing and reduces costs by minimizing legal risks in countries ratifying it (see
Chart 1: Cape Town: A Global Treaty for
Global Business on page 24).
In essence, the combination offers lenders confidence around their aircraft-secured
investments by standardizing legal procedures for transactions involving movable
property. This includes providing standards
for registering sales contracts, security
liens, leases and conditional sales contracts as well as various legal remedies
to deal with defaults including repossession and the bankruptcy effects in particular jurisdictions.
"Cape Town is among the most successful commercial law treaties ever and
is fundamentally shaping how aircraft
transactions are done around the world,"
said Scott Scherer, Boeing Capital
Corporation's vice president for strategic
regulatory policy and an early advocate of
the global agreement.
Scherer, an ISTAT member, also served as
co-chairman for the Aviation Working Group
(AWG), a not-for-profit financing industry
association that promotes the treaty and
other issues important to global aircraft
financing infrastructure.
In addition to its lender risk reductions, user benefits in Cape Town's early
days were more focused around fee discounts available to buyers in ratifying
countries who used export credit agency
Jetrader * Summer 2014 23
Jetrader - Summer 2014
Table of Contents for the Digital Edition of Jetrader - Summer 2014
Q&A: John Slattery
ISTAT Asia Focuses on Challenges, Opportunities of the Region
State of the Regions: Asia Pacific
Cape Town: Global Treaty Expands Thanks to Benefits Offered, Advanced Information Base
ISTAT Americas 2014
In Memory of Gilbert W. Speed
A Long Overdue Thank You
Bundle…Down
East Meets West in Istanbul
A Message from the President
Calendar/News
ISTAT Foundation
Aviation History
Aircraft Appraisals
Advertiser.com
Advertiser Index
Jetrader - Summer 2014 - cover1
Jetrader - Summer 2014 - cover2
Jetrader - Summer 2014 - 3
Jetrader - Summer 2014 - 4
Jetrader - Summer 2014 - A Message from the President
Jetrader - Summer 2014 - 6
Jetrader - Summer 2014 - 7
Jetrader - Summer 2014 - 8
Jetrader - Summer 2014 - Calendar/News
Jetrader - Summer 2014 - 10
Jetrader - Summer 2014 - Q&A: John Slattery
Jetrader - Summer 2014 - 12
Jetrader - Summer 2014 - 13
Jetrader - Summer 2014 - ISTAT Asia Focuses on Challenges, Opportunities of the Region
Jetrader - Summer 2014 - 15
Jetrader - Summer 2014 - 16
Jetrader - Summer 2014 - 17
Jetrader - Summer 2014 - 18
Jetrader - Summer 2014 - 19
Jetrader - Summer 2014 - State of the Regions: Asia Pacific
Jetrader - Summer 2014 - 21
Jetrader - Summer 2014 - 22
Jetrader - Summer 2014 - Cape Town: Global Treaty Expands Thanks to Benefits Offered, Advanced Information Base
Jetrader - Summer 2014 - 24
Jetrader - Summer 2014 - 25
Jetrader - Summer 2014 - ISTAT Americas 2014
Jetrader - Summer 2014 - 27
Jetrader - Summer 2014 - 28
Jetrader - Summer 2014 - 29
Jetrader - Summer 2014 - 30
Jetrader - Summer 2014 - 31
Jetrader - Summer 2014 - 32
Jetrader - Summer 2014 - 33
Jetrader - Summer 2014 - 34
Jetrader - Summer 2014 - 35
Jetrader - Summer 2014 - 36
Jetrader - Summer 2014 - 37
Jetrader - Summer 2014 - 38
Jetrader - Summer 2014 - In Memory of Gilbert W. Speed
Jetrader - Summer 2014 - 40
Jetrader - Summer 2014 - 41
Jetrader - Summer 2014 - A Long Overdue Thank You
Jetrader - Summer 2014 - 43
Jetrader - Summer 2014 - 44
Jetrader - Summer 2014 - Bundle…Down
Jetrader - Summer 2014 - 46
Jetrader - Summer 2014 - ISTAT Foundation
Jetrader - Summer 2014 - Aviation History
Jetrader - Summer 2014 - 49
Jetrader - Summer 2014 - 50
Jetrader - Summer 2014 - 51
Jetrader - Summer 2014 - 52
Jetrader - Summer 2014 - Aircraft Appraisals
Jetrader - Summer 2014 - 54
Jetrader - Summer 2014 - 55
Jetrader - Summer 2014 - 56
Jetrader - Summer 2014 - East Meets West in Istanbul
Jetrader - Summer 2014 - Advertiser Index
Jetrader - Summer 2014 - cover3
Jetrader - Summer 2014 - cover4
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