Scope of Singapore Convention on Mediation Annotated

Abstract

“The Singapore Convention on Mediation is the missing third piece in the international dispute resolution enforcement framework. This will help advance international trade, commerce and investment.” The significance of the Singapore Convention is that it facilitates the enforcement of settlement agreements climaxed via mediation conducted and culminated in foreign jurisdictions. It deals with instances wherein the parties' fail to adhere to the settlement which was agreed upon at the time of mediation, thereby, the parties' will now be able to enforce the agreement agreed upon in course of the mediation in the same vein as an arbitration award. Ergo, the cornerstone of the Singapore Convention on Mediation is to further bolster the role of commercial mediation as a dispute resolution mechanism. This research paper is structured as follows. The first part will lay out the scope of the Singapore Convention on Mediation as the overriding theme of the research paper. The second part will examine its role in accelerating the development of international business mediation. The third part will construct analysis of the concomitant issues apropos the new Convention on Mediated Settlement Agreements and evaluates the way ahead of the Convention. Lastly, the fourth part will be the conclusion followed by the researcher's comment vis-a-vis the understanding whether the Convention is a new string to the bow of international mediation.