The Singapore Convention is expected to benefit international trade, and businesses choosing mediation as a dispute resolution process in settling their cross-border commercial disputes, by providing a formerly nonexistent framework to facilitate the invocation by parties, and enforcement by the courts of State Parties to the Convention, of international settlement agreements resulting from mediation.
The Convention is also intended to promote the use of mediation as an efficient and flexible option to arbitration and litigation in settling international commercial disputes.
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