This paper considers in some detail the provisions relating to buyers of equipment in the Cape Town Convention3, its three protocols and the draft MAC protocol which has recently been discussed at the second meeting of Governmental Experts.4 The purpose of the Convention and its protocols is to increase the availability of and decrease the cost of credit used for the acquisition of high value identifiable equipment by providing for an international system of rules enabling a creditor to take an interest in that equipment, to enforce effectively on default and to protect its interest by registration in an International Registry and by the ability to search for the existence of prior interests in the equipment.5 Its primary purpose is not, therefore, to protect buyers of equipment, or to provide rules governing sales. However, it cannot be ignored that equipment is routinely bought and sold, and the Convention and its protocols have, therefore, to deal with the position of buyers to a greater or lesser extent. The ways in which this is done vary according to the particular market and type of equipment involved.