China deposits declaration of territorial application of the United Nations Convention on Contracts for the International Sale of Goods to Hong Kong SARadmin2019
China deposited a declaration of extension of the territorial application of the United Nations Convention on Contracts for the International Sale of Goods (CISG) to Hong Kong, Special Administrative Region of China (“the HKSAR”) on 5 May 2022.
CISG applicable to Hong Kong SAR as of 1 December 2022
The territorial application will take effect on 1 December 2022 according to article 97(3) of the CISG. The declaration that China is not bound by article 1(1)(b) CISG shall not apply to the HKSAR. The UNCITRAL Secretariat has partnered with the Department of Justice of the HKSAR in disseminating awareness of the CISG in the HKSAR in the framework of ongoing collaboration relating to international trade law.
The CISG is a fundamental international trade law treaty and a major success of the work of UNCITRAL and has inspired several national and regional legislative texts. It 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.
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.
More information on the CISG is accessible at: CISG
Article Source: UNIS