Portugal is the latest signatory state to the 1980 Vienna Convention.
On August 7, 2020, Decree 5/2020 was published, which approves the "Convention" for accession. It aims to regulate international contracts of purchase and sale of goods, in order to create a structure, with method and vocabulary, inspired by both the system of commom law and civil law.
In order to promote equality and better relations between States, the UN Convention implements uniform measures, applicable to contracts for the purchase and sale of goods, in order to contribute to the reduction of legal obstacles arising from economic and social differences between contracting States.
With the exponential growth of international trade, the adoption of rules and measures compatible with the legal systems in question has emerged with the aim of promoting advantages for all and creating a situation of equal negotiation.
Portugal's accession to the Convention will certainly be an added value for the country's economy, through the reduction of transaction costs and greater legal security in trade. This does not seem to resolve the current economic crisis, but it contributes to boosting our international market.
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