International Trade Law, Its Features And Application - Case Study Example

The need for a uniform law structure to be applicable in a global context was being increasingly felt by both the developed and developing economies. The need for a common law gave birth to International Trade Agencies like United Nations Commission on International Trade Law (UNCITRAL), International Chamber of Commerce (ICC), United Nations Economic Commission for Europe, The International Chamber of Commerce (ICC), The International Law Association in London and The Hague Conference on Private International Law to name a few.

Keeping in tune to the above discussion the paper highlights the formulation of a common trade law popular in the context of global trade. The law in question is the Contracts for the International Sale of Goods (CISG) formulated by the United Nations Commission on International Trade Law (UNCITRAL) at a diplomatic conference held at Vienna on April 11th, 1980. Further, probing is conducted on the issue of its adoption or non-adoption in context of nations like India, China, United Kingdom, United States of America and so on.

The law is further studied in relation to the other foreign trade agreements like the North Atlantic Free Trade Agreement (NAFTA), China Free Trade Agreement to judge its efficacy in the global context.The United Nations Commission on International Trade Law (UNCITRAL) called a convention on Contracts for the International Sale of Goods (CISG). The followings of the convention were adopted by organizing a conference on diplomatic relations on April 11th, 1980 in Vienna. It was in 1930 that the International Institute first addressed the need for a uniform law for the international transaction of goods for the Unification of Private Law (UNIDROIT) based in Rome.

The surge of the Second World War interrupted the preparation of a draft on the contract.