Financial Leasing (Uniform Law)
Files
Description
The UNIDROIT Convention on International Financial Leasing, 2312 UNTS 195, henceforth UNIDROIT Financial Leasing Convention, was adopted on 28 May 1988, at the conclusion of a Diplomatic Conference convened by the Canadian government, as was its sister convention, the Ottawa Factoring Convention (UNIDROIT Convention on International Factoring of 28 May 1988, 2323 UNTS 373, 27 ILM 943; —> Factoring (uniform law)). Like the International Factoring Convention, the UNIDROIT Financial Leasing Convention entered into force on 1 May 1995. The efforts leading up to the UNIDROIT Financial Leasing Convention go back to 1974, when the UNIDROIT Secretariat submitted to the Governing Council of —> UNID ROIT a proposal for the preparation of a preliminary study looking into whether the elaboration of uniform rules on leasing would be desirable and feasible. Once the Governing Council agreed to this proposal, the efforts towards the creation of uniform rules on leasing became a priority. Over the years, these efforts led to a preliminary report containing a number of policy considerations, which the Governing Council endorsed in 1975. The policy considerations included the exclusion of real estate leasing from the scope of the instrument to be drafted—because of the limited impact of that form of leasing at the international level, and the difficulties the drafters would have faced in attempting to unify at the same time principles of the law of real property and the law of personal property (—> Property and proprietary rights). Tentative drafts were made, as well as various revised drafts, the last of which, still containing reservations regarding certain provisions which were placed in square brackets for decision, was laid before the aforementioned Diplomatic Conference.
Source Publication
Encyclopedia of Private International Law
Source Editors/Authors
Jürgen Basedow, Giesela Rühl, Franco Ferrari, Pedro de Miguel Asensio
Publication Date
2017
Volume Number
1
Recommended Citation
Ferrari, Franco, "Financial Leasing (Uniform Law)" (2017). Faculty Chapters. 562.
https://gretchen.law.nyu.edu/fac-chapt/562
