What year was the CISG finalized?

The United Nations Convention on Contracts for the International Sale of Goods (CISG) was finalized in 1980. This international treaty aimed to create a uniform framework for international trade by establishing legal standards for the sale of goods between parties from different countries. The CISG was adopted on April 11, 1980, during a diplomatic conference in Vienna and came into force on January 1, 1988.

The significance of the CISG lies in its role in facilitating international commerce by reducing the legal uncertainties that can arise in cross-border transactions. It provides a set of rules that governs the formation of contracts, obligations of sellers and buyers, and remedies for breach of contract. This framework helps to promote fairness and efficiency in international trade by accommodating diverse legal traditions and practices.

Understanding the CISG is crucial for businesses engaged in international trade, as it can directly impact contractual agreements and business operations across different jurisdictions. The treaty's adoption demonstrated a collective effort to harmonize trade laws and foster global economic growth, making 1980 a pivotal year in the context of international commercial law.