The Convention, which entered into force this month, should allow courts in certain jurisdictions to recognize and enforce settlement agreements directly.
Settling a dispute via mediation is one of the most time- and cost-effective approaches a party can take to resolve contentious issues. Mediation — a confidential amicable negotiation process facilitated by a third-party independent mediator — can be a very useful tool in the right circumstances.
Mediation’s effectiveness as a dispute resolution mechanism has been somewhat enhanced by the 2018 Convention on International Settlement Agreements Resulting from Mediation (known as the Singapore Convention on Mediation), which entered into force on 12 September 2020.
The process of mediation in an English law context, and the impact of the Singapore Convention on Mediation, are discussed in this Latham Client Alert.