In January 2024, UNIDROIT undertook consultations with several major private sector associations regarding the implementation and entry into force of the Mining, Agricultural and Construction (MAC) Protocol to the Convention on International Interests in Mobile Equipment (the Cape Town Convention).
On 19 January, UNIDROIT Secretary-General Ignacio Tirado, Deputy Secretary-General Anna Veneziano and Senior Legal Officer William Brydie-Watson delivered a presentation on the legal operation, economic benefits and implementation of the MAC Protocol to the Equipment Leasing and Financing Association (ELFA). Over 100 participants from ELFA member companies registered for the event and participated in the Q&A session following the presentation. ELFA is a United States trade association representing financial services companies and manufacturers in the nearly $1 trillion equipment finance sector. ELFA is also a member of the MAC Working Group (the independent entity that represents private sector interests in relation to the MAC Protocol) and played an important role during the negotiation of the MAC Protocol.
While in Washington, the UNIDROIT delegation also met with the Association of Equipment Manufacturers (AEM), a North American-based trade association representing off-road equipment manufacturers and suppliers representing more than 1,000 companies in the agriculture and construction-related industry sectors worldwide. AEM is leading the MAC Working Group in promoting the implementation of the MAC Protocol globally and working toward the earliest possible entry into force of the treaty.
More information on the MAC Protocol is available on the UNIDROIT website: https://www.unidroit.org/instruments/security-interests/mac-protocol/.