The Singapore Convention on Mediation, signed on 7 August, 2019, entered into force on 12 September, 2020, launching a new era for international mediation.
The Singapore Agreement is a uniform and efficient framework for international settlements resulting from mediation. It facilitates international trade and commerce by enabling the disputing parties to easily enforce and invoke settlement agreements across borders. As such, the Convention provides greater assurance to businesses that mediation can be relied on and encourages companies to use mediation as an additional option to litigation and arbitration.
On 18 June 2019, the Council for the Development of the Arbitration Process of the Ministry of Justice of the Russian Federation recommended granting VIAC the status of a PAI (“permanent arbitration institution”) under Russia’s Federal Law on Arbitration dated 29 December 2015. As of 11 July 2019, VIAC is now officially included in the list of foreign arbitral institutions recognized as a PAI (as per order No. 845-r issued on 4 July 2019). We are the first European arbitral institution to have received a government permit. This registration is crucial in order to ensure enforcement of VIAC awards also in the future in the Russian Federation.
In an effort to provide clarity and guidance in the wake of Covid-19, several arbitration institutions have decided to issue a joint statement.
Please view the full text of the joint statement for further details.
CAM, DIS, SCC and VIAC have published a joint video message related to COVID-19. Have a look at the video!