The United Nations Convention on International Settlement Agreements Resulting from Mediation, informally known as the “Singapore Mediation Convention” (the convention), originally adopted by the United Nations General Assembly in December 2018, applies to settlement agreements resulting from mediation of international (cross border) disputes (settlement agreement(s)). The convention’s goal is to promote mediation as a viable alternative to litigation of cross-border trade disputes by creating an effective process for enforcing a resulting settlement agreement.
The intent is to provide parties in an international dispute confidence that if they choose to mediate; any settlement agreement will be recognized and capable of enforcement by the courts of a signatory state, without the need to resort to further litigation. Currently, the convention is more aspirational than operational, given its exclusions and carve-outs, and the fact that it been ratified by only one country and several key nations have failed to sign it.
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