CISG, also known as the United Nations Convention on Contracts for the International Sale of Goods, is an international legal framework that governs commercial transactions between businesses from different countries. It provides a standardized set of rules and regulations to address issues and disputes arising from the sale of goods internationally.
The CISG covers various aspects of international sales, including the formation of contracts, rights and obligations of the buyer and seller, delivery of goods, payment terms, breach of contract, and remedies available to the parties involved. It applies to contracts for the sale of goods between parties located in different countries that have ratified or adopted the convention.
One of the key features of the CISG is its principle of party autonomy, which allows the parties to modify or exclude the application of the convention by explicit agreement. However, if the parties have not specifically excluded or modified the CISG, its provisions become an integral part of their contract.
The CISG aims to facilitate international trade by providing a uniform and predictable legal framework across different legal systems. It harmonizes the rules governing international sales, reducing legal uncertainty and promoting fair and efficient commercial practices. It also provides mechanisms for resolving disputes, including alternative dispute resolution methods and the recognition and enforcement of foreign judgments.
Overall, the CISG plays a significant role in ensuring legal certainty and promoting international trade by establishing a comprehensive set of rules governing the international sale of goods.
