NITN | @notintownlive | 01 Feb 2018
Tashkent, Feb 1 (NITN): Uzbekistan has acceded to the Cape Town Convention, which is considered to be a leap forward in the field of international aviation law.
The convention implies an international guarantee and is a unique means of protecting creditors and lessors of aircraft, aircraft engines and helicopters.
At present, 73 countries are the states- participants of this Convention: Great Britain, Germany, Italy, China, USA, Turkey, Switzerland, Russia, Kazakhstan, Tajikistan and others.
The signing took place on Dec 28, 2017 by Uzbekistan President Shavkat Mirziyoyev.
Prior to this, the law was adopted by the lower house of the Parliament on Dec 6 and approved by the Senate of the Oliy Majlis on Dec 20.
The convention provides for the formation of an international system for registration of rights to aviation technology - the international registry.
Accordingly, contracts concluded by companies from Uzbekistan on the acquisition of aircraft equipment will be registered in this international register and they are provided with an international guarantee that will facilitate the financing of expensive aviation techniques and reduce the risks of leasing and credit operations.
The international regime established by the convention and the protocol is designed to reduce the risk of creditors and, consequently, the cost of credit, which in turn will increase the possibility of obtaining financing for the acquisition and operation of aircraft (aircrafts and engines) by companies in developing countries.
The law on accession of Uzbekistan to the convention and the protocol contains five statements of Uzbekistan, made in view of the international experience of the states that have joined to the Cape Town documents.
Accession of Uzbekistan to the Convention and application of its norms will simplify the system of financing expensive aviation equipment, including aviation facilities, providing preferential terms and additional discounts.
- Mentorship-driven accelerator Techstars appoints Ray Newal as MD to support emerging markets entrepreneurs
- ‘The SAS Trio’ along with Garfa Mitrayan stage Tagore’s dance drama ‘Kaalmrigaya’
- Ever wondered how stressful a model’s job can be?
- Orange Corp offers online platform for aspiring models to get projects and contacts
- Higher education can help in strengthening democracy, creating a just society'
- Is it possible to shift from modelling to acting? Read On!!!
- Author Anita Bose's book Patachitra of Odisha and Jagannath Culture has been inspired by Swami Vivekananda's words
- Rotary plays an important role in inspiring the youth
- Aditya Group and Anirban Aditya nominated as one of “India's Greatest Brands & Leaders 2017- 18” process reviewers
- Patti Hoffman Takes Over as the U.S. Consul General in Kolkata
Sydney: If you are planning a holiday in Australia from India, then this is the time as the air-tickets are available at unbeatable prices.
Cologne, Mar 17 (NITN): Deutsche Lufthansa AG, the largest German airline, is offering special sale to all travelers to fly off to and travel in Europe and North America at cheap prices.
New Delhi, Nov 25 (NITN): With an aim to provide flexibility to the customers to re-schedule their flights without worrying about the change fee, IndiGo is offering its special product called 'Flexi Fare' at different price levels.