INTERNATIONAL: A voluntary standard for permanently attaching a Unique Rail Vehicle Identification System identifier to rolling stock has been adopted by the Inland Transport Committee of the United Nations Economic Commission for Europe.
The identifier is required for the implementation of the Luxembourg Protocol to the Cape Town Convention on Mobile Equipment. This is expected to come into force later this year and will establish a public international registry with the security interests of banks and lessors registered against the URVIS identifier.
‘These model rules are an important step forward because they deal with a critical requirement of the Luxembourg Rail Protocol, which will reduce risk for private sector lenders and lessors providing finance for the rail sector, in turn lowering financing costs’, said Howard Rosen, Chairman of the Rail Working Group which represents the rail industry regarding the implementation of the Luxembourg Protocol.
‘The rules are voluntary but will need to be implemented by creditors and rail operators wishing to take advantage of the benefits of the protocol’, Rosen said on February 27. ‘They will also be important for facilitating seamless cross-border operation of rolling stock around the world, at a time when the environment needs railways more than ever.’
