Model Law on Secured Transactions of the United Nations Commission on International Trade Law

A/RES/71/136No PDF available

Who created this mandate?

A Resolution of the General Assembly, under agenda item 76Report of the United Nations Commission on International Trade Law on the work of its 49th session, published in 2016.

What subjects does this mandate have?

3 topics

International Commercial Transactions International Trade Law Model Laws

What does this mandate say?

5 operative paragraphs

Expresses its appreciation to the United Nations Commission on International Trade Law for completing and adopting the Model Law on Secured Transactions;

Requests the Secretary-General to publish the Model Law, including electronically, in the six official languages of the United Nations, and to disseminate it broadly to Governments and other interested bodies;

Recommends that all States give favourable consideration to the Model Law when revising or adopting legislation relevant to secured transactions, and invites States that have used the Model Law to advise the Commission accordingly;

Also recommends that, where necessary, States continue to give favourable consideration to the UNCITRAL Guide on the Implementation of a Security Rights Registry when revising relevant legislation, administrative regulations or guidelines, and to the UNCITRAL Legislative Guide on Secured Transactions and the Supplement on Security Rights in Intellectual Property when revising or adopting legislation relevant to secured transactions, and invites States that have used the guides to advise the Commission accordingly;

Further recommends that all States continue to consider becoming parties to the United Nations Convention on the Assignment of Receivables in International Trade,1 the principles of which are also reflected in the Model Law, and the optional annex to which refers to the registration of notices with regard to assignments.

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