The ‘United Nations Convention on International Settlement Agreements Resulting from Mediation’ (the Convention) was signed by 46 States on 7 August 2019 in an official ceremony held in Singapore. The Convention, known as the ‘Singapore Mediation Convention’ is the product of the United Nations Commission on International Trade Law (UNCITRAL), and in particular, the Working Group II (Dispute Resolution), which aimed at establishing an international regime for the enforcement of settlement agreements resulted from a successful mediation.
The mediation Convention is generally similar to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (the New York Convention) in the sense that it seeks to provide parties with the confidence that any settlement agreements made during mediation will be enforceable directly by the courts of a State ratified the Convention. According to the Preamble of the Convention, this instrument also facilitates the development of ‘harmonious international economic relations between states’.
Practical Benefits of the Singapore Mediation Convention