The UNCITRAL Model Law
on Secured Transactions
By Richard M. Kohn and David W. Morse
This past July, the United Nations Commission on
International Trade Law (“UNCITRAL”) formally
adopted the UNCITRAL Model Law on Secured
Transactions (the “Model Law”). The culmination
of three years of work, and building on prior
UNCITRAL products, the Model Law o;ers countries an e;cient and e;ective way to modernize
their secured transactions laws to promote the
granting of secured credit by domestic and
foreign lenders. It is a bold initiative that promises to have profound bene;ts for countries that
adopt it, and also promises to facilitate cross-border lending by lenders in the U.S. and elsewhere.
The CFA was privileged to participate in the
preparation of the Model Law.