The convention describes the rights and obligations involved in the maritime carriage of goods.
The Rotterdam Rules bring more clarity regarding who is responsible and liable for what, when, where and to what extent when it comes to transport by sea.
80% of world trade is conducted by sea. If the same law applies all over the world, this will promote international trade.
To date, the following countries have signed the convention: Congo, Denmark, France, Gabon, Ghana, Greece, Guinea, the Netherlands, Nigeria, Norway, Poland, Senegal, Spain, Switzerland, Togo and the US.
The UN convention will only become effective one year twenty countries have ratified it the Rotterdam Rules will officially come into force.
The Rotterdam Rules are the result of inter-governmental negotiations that took place between 2002 and 2009. These negotiations took place within the United Nations Commission for International Trade Law (UNCITRAL), after the Comité Maritime International (CMI) had prepared a basic draft for the convention.
The General Assembly of the United Nations adopted the Rotterdam Rules in December 2008.
