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.
VIAC as well encourages the use of mediation and has launched a mediation initiative to ensure efficient and cost-effective dispute settlement throughout these challenging times. For further information, please see here.
Besides, the Singapore Ministry of Law and UNCITRAL jointly organized a celebration ceremony to commemorate the entry into force of the Convention. You may view the recordings of the virtual celebrations here.