Archivo categoría International Trade law

Which are the signatories of the UN Convention on International Bills of Exchange and International Promissory Notes (New York, 1988)

As of today, the following countries subscribe to the Convention:

5 Parties have signed and ratified the Convention:

  • Gabon
  • Guinea
  • Honduras
  • Liberia
  • Mexico

3 Parties have only signed (not ratified) the Convention:

  • Canada
  • Russian Federation
  • United States of America

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Which are the countries who subscribe to the UN Convention on Contracts for the International Sale of Goods (CISG)?

As today, these are the cuontries who subscribe to the United Nations Convention on Contracts for the International Sale of Goods (72 States have adopted the CISG):
Argentina
Australia
Austria
Belarus
Belgium
Bosnia & Herzegovina
Bulgaria
Burundi
Canada
Chile
China
Colombia
Croatia
Cuba
Cyprus
Czech Republic
Denmark
Ecuador
Egypt
El Salvador
Estonia
Finland
France
Gabon
Georgia
Germany
Greece
Guinea
Honduras
Hungary
Iceland
Iraq
Israel
Italy
Kyrgyzstan
Latvia
Lebanon
Lesotho
Liberia
Lithuania
Luxembourg
Macadonia
Mauritania
Mexico
Moldova
Mongolia
Montenegro
Netherlands
New Zealand
Macedonia
Norway
Paraguay
Peru
Poland
Rep. of Korea
Romania
Russian Federation
Saint Vincent & Grenadines
Serbia
Singapore
Slovakia
Slovenia
Spain
Sweden
Switzerland
Syria
Uganda
Ukraine
United States of America
Uruguay
Uzbekistan
Zambia

For official summaries by of the CISG by the UN Treaty Section visit  or

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Is differente a transferable letter of credit from a back-to-back letter of credit?

A transferable letter of credit specifically permits a beneficiary (transferor) to transfer all or some of the rights and protection afforded to it under the letter of credit to a third party (transferee), who then becomes a second beneficiary on the letter of credit. Transferable letters of credit are typically used in transactions where the first letter of credit beneficiary is a middleman and the second letter of credit beneficiary is the middleman’s supplier.

A back-to-back letter of credit is a letter of credit (second letter of credit) issued on the basis of an already existing letter of credit (first letter of credit). Generally, the beneficiary on the first letter of credit is the applicant for the second letter of credit. The purpose of structuring the credits in this manner is to secure the payment to be made under the second letter of credit with the payment made under the first letter of credit. However, this structure has not always worked as intended and as a result, banks have experienced many problems with back-to-back letters of credit. Today, back-to-back letters of credit are not offered by many banks and, consequently, are only very rarely used. When available through banks, however, back-to-back letters of credit are used in transactions where the beneficiary on the first letter of credit is a middleman and the beneficiary on the second letter of credit is the middleman’s supplier.

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What means the Missile Technology Control Regime (MTCR)?

The Missile Technology Control Regime (MTCR) was created in 1987 by the United States, the United Kingdom, Canada, Germany, France, Italy and Japan to restrict the proliferation of missiles and related technology. The MTCR is not a treaty; it is a set of export guidelines that each member implements in accordance with its own national legislation. The set of guidelines aims at controlling exports of missiles capable of delivering weapons of mass destruction as well as technology relating to these missiles.

There are currently 33 member countries of the MTCR. They are:

Argentina
Australia
Austria
Belgium
Brazil
Canada
Czech Republic
Denmark
Finland
France
Germany
Greece
Hungary
Iceland
Ireland
Italy
Japan
Luxembourg
The Netherlands
New Zealand
Norway
Poland
Portugal
Russia
South Africa
Spain
Sweden
Switzerland
Turkey
Ukraine
United Kingdom
United States

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What S.W.I.F.T. means?

SWIFT is an acronym for the Society for Worldwide International Financial Telecommunication organized under Belgian law as a nonprofit cooperative company. It is an international communications system for messages among its member institutions in most of the countries in the Americas, Europe, Japan, and certain countries in Asia. Its member institutions are banking organizations engaged in transmitting international financial messages (and certain non-banking institutions).

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