International Sales
International businesses face many challenges, as the obligations and rights of the parties involved in the sale extend across borders and into differing legal requirements. Another major challenge is the use of multiple currencies. As there is more than one type of currency, difficulties can arise when selecting the proper currency for the transaction, and in measuring the exchange rate effects on the revenue.
To provide a solution for these challenges, the United Nations created the Convention on Contracts for the International Sales of Goods (CISG). The CISG provides guidelines and laws that govern the international sale of goods.