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International Sales Transactions

International sales transactions (also known as international commercial transactions) refers to the cross-border sale of goods. International commercial law is the body of law that governs international sale transactions.¹ A transaction qualifies as international if elements of more than one country are involved.²

The United Nations Convention on Contracts for the International Sale of Goods (CISG) is the main convention for the sale of goods internationally. It governs the conclusion of the sale contract, and buyer and seller obligations.³ This is a treaty that is a uniform international sales law. It allows exporters to avoid choice of law issues, as it offers "accepted substantive rules on which contracting parties, courts, and arbitrators may rely."³

 

 

References:

1. Mo, John. (2003). International Commercial Law.

2. Pryles, Jeff and Martin Davis. (2004). International Trade Law.

3. The U.N. Convention on Contracts for the International Sale of Goods. Retrived May 6, 2014, from http://www.osec.doc.gov/ogc/occic/cisg.htm