ACCESS TO CREDIT

Access to credit (previously known as “secured transactions”) is one of UNIDROIT’s most prolific and successful fields of legislative activity. Over four decades, UNIDROIT has developed 12 adopted instruments, with further instruments expected to be included in the future Work Programme. This work encompasses both hard law treaties (conventions and protocols) and, in recent years, soft law instruments (model laws and guides to enactment).

UNIDROIT’s access to credit instruments address a wide range of financing methods and products used across sectors and by different parties. Some instruments facilitate access to finance for high-value equipment used by larger commercial companies, while others support small and medium-sized enterprises (SMEs) by enabling access to credit through receivables, where traditional financing may be unavailable due to a lack of collateral.

The flagship instruments are the Convention on International Interests in Mobile Equipment (the “Cape Town Convention”) and its Protocol on Matters Specific to Aircraft Equipment (the “Aircraft Protocol”), widely regarded as two of the most successful international commercial law treaties in history. UNIDROIT’s work in this field, however, dates back to the 1980s, including conventions on international factoring and leasing. More recently, UNIDROIT has combined its access to credit work with its growing expertise in agricultural law and development, preparing instruments aimed at facilitating access to credit for agricultural enterprises.

 

 

The first online meeting of the ATC WS was held on 23 July 2025. Prior to the meeting, the Secretariat circulated an Inception Report providing an overview of the main Conventions, Protocols, and Model Laws in the field of access to credit, including information on their membership, status of ratifications, and implementation. The Report also presented Unidroit’s prospective legislative projects in this area and outlined several strategic questions for the Committee’s consideration. During the meeting, members discussed the Inception Report and held an initial exchange of views on the scope of the forthcoming White Paper. It was agreed that, during the intersessional period, members would indicate their preferred topics to the Secretariat for further coordination.

The second online meeting took place on 10 November 2025, during which the ATC WS finalised the topic allocation and invited members to begin subgroup discussions, with bullet points to be submitted by mid-January 2026. The Committee also adopted the 2025–2026 work plan and agreed to convene the third online meeting in mid-January 2026. As noted above, the workshop to discuss the finalised White Paper is planned for the week of 21-25 September 2026, in the framework of the activities of the Cape Town Academic Project in Cambridge.

During the intersessional period, the respective subgroups convened separately. Members drew on their subject-matter expertise to hold substantive discussions, provide suggestions, and prepare bullet points, which were submitted to the Secretariat in advance of the third meeting. The Secretariat subsequently circulated the bullet points to the full Committee.

The third online meeting was held on 12 January 2026. During the meeting, the rapporteurs of each subgroup presented the bullet points and invited discussion by the full Committee. It was agreed that the bullet points would be further refined in light of the discussions and that members would proceed with the preparation of preliminary draft text, to be submitted in February 2026.

The fourth online meeting is scheduled to be held in March 2026.