ARMENIA ACCEDES TO UNITED NATIONS CONVENTION ON CONTRACTS FOR INTERNATIONAL SALE OF GOODS (CISG)

States News Service
February 17, 2009 Tuesday

The following information was released by the United Nations:

With its accession to the United Nations Convention on Contracts
for the International Sale of Goods (CISG), Armenia becomes the 73rd
State Party to the Convention. The Convention will enter into force
for Armenia on 1 January 2010.

The United Nations Convention on Contracts for the International Sale
of Goods 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. The CISG is therefore considered to be one of the core
conventions in international trade law.

The Convention, which has been adopted by a large number of major
trading countries, 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. Further information
on the CISG is available on the UNCITRAL website.

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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, and maintains a website
at