Saudi Arabia Accedes to UN Convention on CISG

Riyadh, August 22, 2023, SPA -- The Kingdom of Saudi Arabia has officially acceded to the United Nations Convention on Contracts for the International Sale of Goods (CISG), becoming the 96th state party to the convention.
The convention will enter into force in Saudi Arabia, with the exception of its part III, on September 1, 2024.
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. It provides an equitable and modern uniform framework for the contract of sale, which is the backbone of international trade in all countries. Its adoption and use may contribute significantly to introducing certainty in commercial exchanges, decreasing transaction costs, diversifying the economy, and boosting cross-border transactions for small and medium enterprises.
The Cabinet approved the Kingdom's accession to CISG last June, proposed by the National Competitiveness Center in cooperation with the United Nations Commission on International Trade Law (UNCITRAL), which aims to create a legal environment conducive to trade and investment in the Kingdom.
The National Competitiveness Center works to see the Kingdom accede to other international agreements in cooperation with UNCITRAL.
--SPA