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Nicaragua´s Accession to the 2012 Cape Town Agreement: A Boost for Economy and Investment
By Guy José Bendaña-Guerrero & Asociados
On October 19, 2023, Nicaragua became the 22nd country to accede to the 2012 Cape Town Agreement (CTA). The CTA is an international treaty that establishes a global framework for the regulation of fishing vessel safety and security.
Nicaragua's accession to the CTA is significant for a number of reasons. First, it shows that Nicaragua is committed to improving the safety and security of its fishing fleet. Second, it will make it easier for Nicaraguan fishing vessels to operate in international waters. Third, it could attract new investment to Nicaragua's fishing industry.
The CTA requires fishing vessels to have insurance to cover liability claims in the event of an accident. This will help to protect Nicaraguan fishermen and fishing companies from financial ruin in the event of a disaster.
It also establishes a system for registering fishing vessels and mortgages. This will make it easier for Nicaraguan fishing companies to access financing and to sell their vessels to foreign buyers.
Fishing is one of the most dangerous professions in the world, with thousands of fishers estimated to lose their lives every year when working to supply the world's growing appetite for fish and fish products. There are about 4.6 million fishing vessels in operation around the world.
Guy José Bendaña-Guerrero & Asociados
GUY JOSE BENDAÑA GUERRERO & ASOCIADOS has a long and prosperous tradition in the field of intellectual property (IP) in Nicaragua, with roots that go back to more than 100 years, resulting on long-term relationships with renowned clients and attorneys worldwide.
The firm has its origins in the law firm Henry Caldera & Henry Caldera-Pallais, founded in 1907 by Mr. Henry Caldera. That same year of 1907, through the efforts of Mr. Caldera, Nicaragua had its first Trademark Law. In the late 1930’s, Mr. Caldera’s oldest son, Dr. Henry Caldera-Pallais, after studying law in Nicaragua, attended the University of Michigan, where he graduated as a Registered U.S. Patent Attorney. Dr. Caldera-Pallais in 1964 was a founding member of the Interamerican Association of Intellectual Property (ASIPI), the first regional intellectual property organization in the Americas. The firm continued to grow during the administration of Dr. Franklin Caldera, son of Dr. Caldera-Pallais, who obtained his doctoral degree in law from the Universidad Centroamericana in 1973.
Since 1985 the current partners, Dr. Guy José Bendaña Guerrero and Mrs. Blanca Aragón de Bendaña, took over the management of the firm. Dr. Bendaña Guerrero, Director of the firm, has distinguished himself as one of the most respected authorities in Central America in the field of intellectual property and law in general, being the author of several books such as “Course of Industrial Property Law”, “Study of the new Laws of Industrial Property” and “New Study of Contracts “, among others. Mrs. Aragón de Bendaña has served as the firm’s general manager and, thanks to her excellent management, the firm has been in constant growth, with a highly qualified staff committed to excellence. Since 1996, partner Julián José Bendaña Aragón joined the firm, and has been standing out as one of the most recognized attorneys in the field of intellectual property.
We have adapted to the constant change of the business world, supporting our clients in finding the most appropriate legal solutions for each moment. The firm distinguishes itself by understanding the needs of its clients, offering personalized service and adding value to its activities.
Nowadays we continue to be the leading firm in Nicaragua in the area of intellectual property, and at the same time, we have been consolidating other areas of service within the civil, commercial and labor fields, as well as litigation and consulting in general. The firm is well positioned to guarantee a pragmatic service that meets the requirements of the most demanding clients.
