Saudi Arabia Joins the UN "CISG" Convention on Contracts for the Sale of Goods

Today, the Kingdom of Saudi Arabia officially joined the United Nations Convention on Contracts for the International Sale of Goods (CISG), according to the Saudi Press Agency "SPA". With this, Saudi Arabia becomes the 96th country to join the convention, which will come into effect for the Kingdom—excluding part three of the convention—on September 1, 2024. "SPA" clarified that "the convention provides a unified and flexible legal framework for the conclusion of international sales contracts, the obligations of the contracting parties, and also offers a neutral and independent international regulatory framework for addressing international sales disputes. Additionally, it includes a modern set of legal rules that consider various economic and social aspects. This convention also helps remove barriers in international trade and fosters its development, while supporting efforts to diversify the economy and enhance cross-border commercial transactions for small and medium enterprises."