EDB organizes UNCITRAL seminar to increase business resilience

EDB organizes UNCITRAL seminar to increase business resilience

Under the patronage of Justice, Islamic Affairs and Endowments Minister Nawaf bin Mohammed Al Maawda, the Bahrain Bar Society, in cooperation with the Economic Development Board of Bahrain (EDB) and the United Nations Commission on International Trade Law (UNCITRAL), organized a seminar on the United Nations Convention on Contracts for the International Sale of Goods (CISG).

The CISG Is a treaty that provides a uniform legal framework for the formation and performance of contracts for the sale of goods across borders.

It is the most broadly adopted uniform contract law treaty, with 95 States parties to it, including the USA, China, Japan, and 25 EU Member States, Egypt, Lebanon, and Iraq. Bahrain adopted the CISG in 2013 and the treaty is in force in the Kingdom since October 1 2014.

Bahrain is the first Gulf Cooperation Council (GCC) member that has adopted the CISG, and other GCC member States are considering its adoption.

Dr. Luca Castellani of the UNCITRAL Secretariat provided an overview of the content of the CISG.

He explained that the CISG is a modern treaty that provides a balanced legal framework to sellers and buyers, and that is specifically designed for long-distance transactions.

He said that the CISG aims to preserve the economic