On 14 June 1974, in New York, the Convention on the Limitation Period in the International Sale of Goods is adopted — the UNCITRAL treaty unifying time limits for actions on international sales contracts.

The basic period is four years from accrual; it stops when judicial or arbitral proceedings begin and cannot exceed ten years. The 1980 amendment aligns the scope with the CISG.

Depositary: UN Secretary-General. Entry into force: 1 August 1988. About 30 states are parties, including Romania and the United States.

The Convention is the CISG’s “lesser-known sister”, but applies regularly in Eastern Europe and in some transatlantic disputes.

For international trade law, 14 June 1974 marks the first UNCITRAL instrument on uniform limitation.

The official text appears in the UNTC, Chapter X.

The Limitation Convention of 14 June 1974 remains the UNCITRAL framework for limitation in the international sale of goods.

Image: UN Headquarters; Wikimedia Commons. Cropped to 16:9.

Source consulted: Convention on the Limitation Period in the International Sale of Goods. Treaty text: Convention on the Limitation Period in the International Sale of Goods (UNTC).