News

Satellite Operators Oppose New Protocol On Satellite Financing

09 Dec 2011, Brussels, Belgium

Updates:
09 Mar 2012: Global Satellite Industry denounces UNIDROIT Protocol
23 Feb 2012: Global Satellite Industry reiterates opposition to UNIDROIT Space Assets Protocol

Over 90 satellite operators, manufacturers and financiers have today delivered a letter to inform governments of the world of their concerns over a proposal for new international legislation called the Unidroit Space Assets Protocol, sponsored by Unidroit: the International Institute for the Unification of Private Law, based in Rome.

This Protocol seeks to develop a new legal framework for financing satellite and space programmes even though the existing financing framework works perfectly well. Industry players are worried that the Protocol will in fact harm what's already in place by imposing new obligations and more costs, just to solve a problem that in reality does not exist.

> Read the Draft Protocol

FAQs About The Draft Space Assets Protocol

Please click each question below to view the answer.

What is the main objective and scope of the Draft Space Assets Protocol?

Who are the advocates of the Draft Space Assets Protocol and why do they want to set it up?

Has industry effectively participated in the process?

What will be the consequences of the Protocol being adopted and ratified by space-faring states?

Would the space assets protocol help developing countries and start-ups enter this high-cost sector?

What does industry recommend UNIDROIT member states to do in February 2012 at the diplomatic conference?

Additional Information:

Documentation from Unidroit Feb 2011 workshop hosted by London Institute of Space Policy and Law (ISPL)

Legal Issues

No more Red Tape!! Industry Submissions to Unidroit