“46 States, including the world’s two largest economies, the United States and China, and three of the four largest economies in Asia, China, India and South Korea, met in Singapore today and inked a new international treaty on mediation that will enable the enforcement of mediated settlement agreements amongst the signatory countries. Singapore […] was the first signatory of the United Nations Convention on International Settlement Agreements Resulting from Mediation, also known as the Singapore Convention on Mediation, when it opened for signature in Singapore today. […]
Singapore and the UN also inked a Memorandum of Understanding (MOU) to cooperate for the organisation of an UNCITRAL Academy in Singapore. The new UNCITRAL Academy will, amongst other things, organise in Singapore future instalments of the Singapore Convention Conference. The next Conference will be held on 1 September 2020. […]
The Singapore Convention on Mediation was adopted by consensus at the UN General Assembly on 20 December 2018. It is the first UN treaty to be named after Singapore. The new international treaty will provide for the cross-border enforcement of mediated settlement agreements, give businesses greater certainty and assurance, and facilitate international trade and commerce”.