Unidroit Convention on International Financial Leasing

 

Article 17

This Convention does not prevail over any treaty which has already
been or may be entered into; in particular it shall not affect any
liability imposed on any person by existing or future Treaties .

Article 18

1. – If a Contracting State has two or more territorial units in
which different systems of law are applicable in relation to the matters
dealt with in this Convention, it may, at the time of signature,
ratification, acceptance, approval or accession, declare that this
Convention is to extend to all its territorial units or only to one or
more of them, and may substitute its declaration by another declaration
at any time.

2. – These declarations are to be notified to the depositary and are
to state expressly the territorial units to which the Convention extends.

3. – If, by virtue of a declaration under this article, this
Convention extends to one or more but not all of the territorial units of
a Contracting State, and if the place of business of a party is located
in that State, this place of business, for the purposes of this
Convention, is considered not to be in a Contracting State, unless it is
in a territorial unit to which the Convention extends.

4. – If a Contracting State makes no declaration under paragraph 1,
the Convention is to extend to all territorial units of that State.

Article 19

1. – Two or more Contracting States which have the same or closely
related legal rules on matters governed by this Convention may at any
time declare that the Convention is not to apply where the supplier, the
lessor and the lessee have their places of business in those States. Such
declarations may be made jointly or by reciprocal unilateral
declarations.

2. – A Contracting State which has the same or closely related legal
rules on matters governed by this Convention as one or more
non-Contracting States may at any time declare that the Convention is not
to apply where the supplier, the lessor and the lessee have their places
of business in those States.

3. – If a State which is the object of a declaration under the
previous paragraph subsequently becomes a Contracting State, the
declaration made will, as from the date on which the Convention enters
into force in respect of the new Contracting State, have the affect of a
declaration made under paragraph 1, provided that the new Contracting
State joins in such declaration or makes a reciprocal unilateral
declaration.

Article 20

A Contracting State may declare at the time of signature,
ratification, acceptance, approval or accession that it will substitute
its domestic law for Article 8(3) if its domestic law does not permit the
lessor to exclude its liability for its default or negligence.

Article 21

1. – Declarations made under this Convention at the time of signature
are subject to confirmation upon ratification, acceptance or approval.

2. – Declarations and confirmations of declarations are to be in
writing and to be formally notified to the depositary.

3. – A declaration takes effect simultaneously with the entry into
force of this Convention in respect of the State concerned. However, a
declaration of which the depositary receives formal notification after
such entry into force takes effect on the first day of the month
following the expiration of six months after the date of its receipt by
the depositary. Reciprocal unilateral declarations under Article 19 take
effect on the first day of the month following the expiration of six
months after the receipt of the latest declaration by the depositary.

4. – Any State which makes a declaration under this Convention may
withdraw it at any time by a formal notification in writing addressed to
the depositary. Such withdrawal is to take effect on the first day of the
month following the expiration of six months after the date of the
receipt of the notification by the depositary.

5. – A withdrawal of a declaration made under Article 19 renders
inoperative in relation to the withdrawing State, as from the date on
which the withdrawal takes effect, any joint or reciprocal unilateral
declaration made by another State under that article.

Article 22

No reservations are permitted except those expressly authorised in
this Convention.

Article 23

This Convention applies to a financial leasing transaction when the
leasing agreement and the supply agreement are both concluded on or after
the date on which the Convention enters into force in respect of the
Contracting States referred to in Article 3(1)(a), or of the Contracting
State or States referred to in paragraph 1(b) of that article.

Article 24

1. – This Convention may be denounced by any Contracting State at any
time after the date on which it enters into force for that State.

2. – Denunciation is effected by the deposit of an instrument to that
effect with the depositary.

3. – A denunciation takes effect on the first day of the month
following the expiration of six months after the deposit of the
instrument of denunciation with the depositary. Where a longer period for
the denunciation to take effect is specified in the instrument of
denunciation it takes effect upon the expiration of such longer period
after its deposit with the depositary.

Article 25

1. – This Convention shall be deposited with the Government of
Canada.

2. – The Government of Canada shall:

(a) inform all States which have signed or acceded to this Convention
and the President of the International Institute for the Unification of
Private Law (Unidroit) of:

(i) each new signature or deposit of an instrument of
ratification, acceptance, approval or accession, together
with the date thereof;

(ii) each declaration made under Articles 18, 19 and 20;

(iii) the withdrawal of any declaration made under Article 21 (4);

(iv) the date of entry into force of this Convention;

(v) the deposit of an instrument of denunciation of this
Convention together with the date of its deposit and the date
on which it takes effect;

(b) transmit certified true copies of this Convention to all signatory
States, to all States acceding to the Convention and to the President of
the International Institute for the Unification of Private Law
(Unadroit).

IN WITNESS WHEREOF the undersigned plenipotentiaries, being duly
authorised by their respective Governments, have signed this Convention.

DONE at Ottawa, this twenty-eighth day of May, one thousand nine
hundred and eighty-eight, in a single original, of which the English and
French texts are equally authentic.

Author: international

Mentioned in these Entries

Treaties, Unidroit Convention on International Financial Leasing.