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UN Model Rules updated to include digital platforms
The UNECE Working Party on Rail Transport yesterday published the 3rd Revision of the UN Model Rules for the Permanent Identification of railway rolling stock. This includes a new Appendix 3 which provides for the incorporation of the globally unique 16 digit URVIS (Unique Rail Vehicle Identification System) numbers onto digital platforms. This will facilitate the real time tracking by creditors of the location and potentially other information in relation to financed rolling stock. The use of the digital platform is optional and is not a condition for the registration of an international interest at the International Registry. However, it creates more security for creditors and potentially could be open to insurers and even regulators.
Rail Working Group Chairman Howard Rosen said that: “This is a major step forward for the industry, allowing creditors for the first time to track the location of rolling stock in real time. But it will also bring other advantages, facilitating better asset management, including predictive maintenance and easier repossession and redeployment of rolling stock, reducing creditor risk, as well as potentially new pricing structures for leasing of rolling stock on a per kilometre basis.”
Max Eichorn, CEO of Nexxiot AG, one of the leading companies providing real time tracking of rolling stock, commented: “The global freight ecosystem is shifting to a data-first era. Rising volumes, tighter regulations and higher customer expectations now reward operators who can see, measure and optimize every railcar, container and asset in real time. As a 10-year pioneer of rail asset tracking Nexxiot supports the actions of the UN Working Party on Rail Transport in adopting this major change.”
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NOTES FOR EDITORS
The Luxembourg Rail Protocol to the Cape Town Convention on International Interests in Mobile Equipment is a new global treaty under the auspices of UNIDROIT, the International Institute for the Unification of Private Law. The Protocol will make it much easier and cheaper for the private sector to finance all types of railway rolling stock. It sets up a new system for recognition, priorities and enforcement of creditor and lessor rights, which will be registered in an international registry based in Luxembourg, accessible to everyone over the internet 24/7 and introduces, for the first time a new global unique permanent identification system (URVIS) for rolling stock. The United Nations has adopted global Model Rules on the Permanent Identification of Railway Rolling Stock setting out minimum standards for the permanent marking of railway rolling stock with URVIS numbers. The upgrading of the Model Rules to include digital platforms will create significant additional benefits for the industry. The Protocol entered into force in contracting states on 8th March 2024.
The European Union (in respect of its competences). Gabon, Luxembourg, Paraguay, South Africa, Spain, and Sweden have ratified the Protocol. France, Germany, Switzerland, Mozambique, Italy, and the UK have already signed the Protocol and are working towards its adoption. Many other states, including Saudi Arabia, the Democratic Republic of Congo, Kenya, Malta, Eswatini, Namibia, Zimbabwe, Ethiopia and Mauritius, are actively looking at ratification of the Protocol. The Protocol is endorsed by many international rail organisations (including the African Rail Industry Association, OTIF, CIT, UIC, UIP, ERFA, ALLRAIL, UITP, CER and Eurofima) and actively supported by the African Union, the UN Economic Commission for Africa and the UN Economic Commission for Europe.
The Rail Working Group is a Swiss-based not-for-profit association focused on the adoption and implementation of the Luxembourg Rail Protocol. It has about 90 direct members and hundreds of additional rail stakeholders represented indirectly by various industry organisations that belong to, and support the objectives of, the RWG.
For more on the Luxembourg Rail Protocol and the Rail Working Group visit www.railworkinggroup.org.
Further information from the Rail Working Group:
Tel. +41 41 760 28 88
WhatsApp +41 79 340 21 53
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