Identifying the assets under the Protocol to the Convention on international interests in mobile equipment on matters specific to mining, agricultural and construction equipment

Abstract

The purpose of this article is to analyze the specifics of qualification of objects, the regulation of rights to which is devoted to the new Protocol to the Convention on international interests in mobile equipment on matters specific to mining, agricultural and construction equipment. Methodology: After the analysis, the study uses generalization method to compile comprehensive view on approaches enshrined in the Convention and the Protocol. Results: Protocol to the Convention on international interests in mobile equipment on matters specific to mining, agricultural and construction equipment establishes a new flexible approach, taking into account the specifics of the regulation of rights to these types of equipment, namely, introducing a special category “immovable-associated equipment”. This approach makes it possible to establish a balance between the international interest in the equipment and the interest arising under the internal law of the state where the equipment is located. Conclusions: The Protocol on matters specific to mining, agricultural and construction equipment contains a flexible approach to qualifications for mining, agricultural and construction machines, which could help reduce the number of conflicts of laws and improve the conditions for cross-border commercial activities in this area.