The United Nations Convention on International Settlement Agreements Resulting from Mediation (“Singapore Convention on Mediation”, “Singapore Convention” or “Convention”) was adopted by the United Nations General Assembly, by consensus, on 20 December 2018 and signed by 46 countries on 7 August 2019.
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.
“Like the objectives of the [Convention] that it embodies, the [Singapore Convention on Mediation] logo can be relied upon as a trusted symbol for the effective resolution of cross-border commercial disputes, and the promotion of the use of mediation around the world, thus facilitating the growth of international commerce.” Government of Singapore. Convention. “Logo.” https://www.singaporeconvention.org/logo.html. Accessed 07 September 2019.