Summary:

Rwanda has officially become a State Party to the United Nations Convention on Contracts for the International Sale of Goods (CISG), making it the 97th country to join. As of October 1st, 2024, the Convention will be fully effective in Rwanda.

Content:

The CISG is a set of legal rules that govern international sales contracts. It covers the formation of contracts for the international sale of goods, obligations of buyers and sellers, remedies for breach of contract, and other aspects.

It provides a fair and modern uniform framework for the contract of sale, which is essential for international trade across all countries, regardless of legal traditions or economic development. Such a framework facilitates the reduction of transaction costs and provides greater certainty in commercial exchanges. 

By adopting an equitable and modern uniform framework it, the transaction costs associated with international trade can be significantly reduced, and commercial exchanges can be conducted with greater certainty. Overall, the CISG plays an essential role in facilitating international trade.

Picture and Article Sources: United Nations, Logistics Update Africa