For information only - not an official document
26 September 2014
VIENNA, 26 September (UN Information Service) - With its accession to the United Nations Convention on Contracts for the International Sale of Goods (CISG), Guyana becomes the eighty-third State Party to the Convention. Guyana deposited the instrument of accession during the annual Treaty Event held at United Nations Headquarters in New York. The Convention will enter into force for Guyana on 1 October 2015.
The CISG provides an equitable and modern uniform framework for the contract of sale, which is the backbone of international trade in all countries, irrespective of their legal tradition or level of economic development. Its adoption and use may contribute significantly to introducing certainty in commercial exchanges and decreasing transaction costs.
The CISG establishes a comprehensive code of legal rules governing the formation of contracts for the international sale of goods, the obligations of the buyer and seller, remedies for breach of contract and other aspects of the contract. A large number of major trading countries are already parties to the CISG, which is considered to be a core convention in international trade law.
Further information on UNCITRAL texts is available on the UNCITRAL website at www.uncitral.org.
The United Nations Commission on International Trade Law (UNCITRAL) is the core legal body of the United Nations system in the field of international trade law. Its mandate is to remove legal obstacles to international trade by progressively modernizing and harmonizing trade law. It prepares legal texts in a number of key areas such as international commercial dispute settlement, electronic commerce, insolvency, international payments, sale of goods, transport law, procurement and infrastructure development. UNCITRAL also provides technical assistance to law reform activities, including assisting Member States to review and assess their law reform needs and to draft the legislation required to implement UNCITRAL texts. The UNCITRAL Secretariat is located in Vienna, Austria.
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For information contact:
Principal Legal Officer