What the Contract for the International Sale of Goods Is
Contract for the International Sale of Goods is a formal agreement that sets terms for cross-border sale and delivery of tangible goods between parties in different countries. It specifies parties, description and quantity of goods, price, delivery terms (Incoterms), risk of loss, inspection and acceptance procedures, payment terms, warranties, dispute resolution and governing law. For international transactions, drafters often reference the United Nations Convention on Contracts for the International Sale of Goods (CISG) and applicable domestic statutes; ensure clauses that address export controls, customs, and insurance are included.