Protocol to the Convention on the Contract for the International Carriage of Goods by Road

General Information

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Groups

What is it about?

This Protocol aims to update the conditions governing the contract for the international carriage of goods by road. Whereas Article 23, paragraph 3 of the 1956 CMR Convention determines a maximum compensation of 25 francs per kilogram of gross weight short for the total or partial loss of goods, Article 23, paragraph 3 of the Protocol proposes a maximum compensation of 8.33 units of account per kilogram of gross weight short. The Protocol also details how the Special Drawing Rights as defined by the International Monetary Fund are to be converted into a national currency.

Why is it relevant?

The CMR Convention as amended by the Protocol adopts the Convention to a new economic reality and provides for more legal security as it provides a definition for the conversion of Special Drawing Rights into national currency.

Additional Information

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