The Acceleration of the Development of International Business Mediation after the Singapore Convention

Litigation is generally a procedural mechanism to solve the disputes that people seek to avoid. It is expensive, time consuming, emotionally draining and unpredictable. Alternative dispute resolution, such as arbitration first, and mediation afterwards, became therefore very popular. In line with the general trend towards the development of a settled justice, the Convention on International Settlement Agreements Resulting from Mediation (hereinafter referred to as the “Singapore Convention”) will enter into force on 12 September 2020 with the well-expressed intention to promote mediation as the most privileged tool for the resolution of international commercial dispute. The Convention establishes an international legal framework for the enforcement of settlements reached through mediation, and set forth a very limited number of requirements thereon. Consequently, the private contractual settlement agreement is granted a status comparable to the arbitral award status resulting from the application of the New York Convention. The Singapore Convention will alter the dispute resolution market by challenging its users and practitioners in their way to foresee the conflict itself and its resolution mechanisms