The Future Perspective of the Singapore Convention on Mediation in Asia

On 26 June 2018, the United Nations Commission on International Trade Law [UNCITRAL] approved the final drafts of the Convention on International Settlement Agreements Resulting from Mediation (the Singapore Convention). The goal of the Singapore Convention is to encourage international mediation in the same way that the New York Convention facilitates the recognition and enforcement of international arbitration awards. The mechanism provided in the Convention is based on national provisions and measures. The Convention provides a uniform, efficient framework for the recognition and enforcement of mediated settlement agreements that resolve international, commercial disputes. The Singapore Convention has great potential to impact the conduct of international dispute resolution in Asia, where mediation is viewed as a valuable tool to resolve commercial disputes as it is consistent with Asian values and culture. It is hoped that Asian jurisdictions will widely support the Singapore Convention, and thereby usher in a brighter future for Asian dispute resolution.