The treaty creates international standards for registration of contracts of sale (including dedicated registration agencies), security interests (liens), leases and conditional sales contracts, and various legal remedies for default in financing agreements, including repossession and the effect of particular states' bankruptcy laws.

The railway rolling stock Protocol has been ratified by four countries (Gabon, Luxembourg, Spain and Sweden), as well as the European Union and came into effect in March 2024.

According to the Government of the Netherlands the acceptance of the European Union in a member state which itself is not a party to the convention has no practical consequences.

[4] The European Union ratified the Luxembourg Rail protocol in December 2014 as a Regional Economic Integration Organization on the same basis.

The protocol required ratification by 4 countries, together with a certification by the secretariat to the Supervisory Authority that the registry is fully operational, in order to enter into force.

[10] The protocol was signed by 4 states (Congo, Gambia, Nigeria and Paraguay) upon its adoption and requires 5 ratifications before entry into force (provided the registry is operational then).

On 1 October 2020, the United States of America signed the MAC Protocol and in 2022 the European Union bringing the total number of signatories to 6[11]