What is it and what do you need to know?
Mediation is increasingly used as an alternative way to resolve disputes. Particularly where parties attempt to resolve disputes quickly and cost effectively, in an amicable forum which fosters and maintains commercial relationships. Courts will also sometimes direct parties to explore ADR processes as part of their case management powers.
For more information about when it applies, how it works and why you need to know about it, please see our article originally published in April 2020 here.
Since that article, the Kingdom of Saudi Arabia and Ecuador has now ratified the convention and the Republic of Belarus has approved the convention joining Fiji, Qatar, and Singapore who had already ratified the convention. Accordingly, as of 12 September 2020, parties will be able to see whether they can enforce settlement agreements arising from mediation in those states under the Singapore Mediation Convention. It is interesting to note that both the Kingdom of Saudi Arabia and the Republic of Belarus cited reservations that the convention shall not apply to settlement agreements where it as a state or its governments are party.
Given more than 50 states have already signed up to the convention but have not yet ratified it (including large economies such as China, India and USA), the number of jurisdictions where enforcement of mediated settlement agreements under the convention could be possible may soon significantly increase. A full list of signatories can be found here.
For more information about the Singapore Mediation Convention, please contact the authors of this article.