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Latin for “''the law of the place''”. Relevant when contemplating the [[magic incantation|deep magic]] of taking security over assets in far-off places. | {{anat|security|}}{{tag|Latin}} for “''the law of the place''”. Relevant when contemplating the [[magic incantation|deep magic]] of taking {{tag|security}} over assets in far-off places. | ||
In a nutshell, international conventions of [[security]] law say that it is best to have [[security interest|security interests]] governed by the “[[lex situs]]” – the prevailing domestic law where the secured assets are physically located. | In a nutshell, international conventions of [[security]] law say that it is best to have [[security interest|security interests]] governed by the “[[lex situs]]” – the prevailing domestic law where the secured assets are physically located. | ||
So, if your assets are held in a tri-party collateral arrangement in Luxembourg, for example, even if your trading contract is an | So, if your assets are held in a [[tri-party collateral arrangement]] in {{tag|Luxembourg}}, for example, even if your trading contract is an English law {{gmsla}}, you ought to have a [[Luxembourg law pledge]] to go with your English law [[Fixed charge|fixed]] or [[floating charge]]. | ||
{{lex situs and abwos}} | |||
{{sa}} | |||
*[[Luxembourg law pledge]] | |||
*[[Pledge]] | |||
{{c|Latin}} | |||