(Article 6). Other key provisions of the Rules on Transparency can be found here.
The Mauritius Convention will enter into force for Australia on 17 March 2021. It remains open for signature, ratification, and accession by states and regional economic integration organisations.
For more up-to-date information on the Mauritius Convention and its status, visit the UNCITRAL website.
Singapore Convention on Mediation now in force
The United Nations Convention on International Settlement Agreements Resulting from Mediation (Singapore Convention on Mediation) applies to international settlement agreements resulting from mediation. It is a binding international instrument aimed at facilitating international trade, which came into force on 12 September 2020. It advocates mediation as an effective alternative method of resolving commercial disputes. In particular, it promotes the benefits of mediation being both time and cost efficient, as the parties do not need to resort to full court proceedings to enforce international mediation settlement agreements. The conciliatory nature of mediation is regarded as a significant benefit in trade relations, as it helps preserve relationships despite disputes arising between parties.
www.nziac.com 4
The United Nations predicts the Singapore Convention on Mediation will bring certainty and stability to the international framework on mediation and expects it to be an effective mechanism for the enforcement of international mediation settlement agreements. It is considered one of the most successful multilateral treaties prepared by the United Nations Commission on International Trade Law (UNCITRAL) since it opened for signatures on 7 August 2019, with 53 States having now signed. It remains open for signature, ratification, and accession by States and regional economic integration organisations.
The Singapore Convention on Mediation applies to international settlement agreements resulting from mediation which have been concluded in writing by parties to resolve a commercial dispute. It does not extend to non-commercial disputes such as employment or family matters.
Belarus and Ghana have both recently approved the Singapore Convention.
Approval by Belarus was effected on 15 July 2020 and it will enter into force there on 15 January 2021. Belarus has stated it believes the Singapore Convention will have a positive impact on the entire system of international commercial mediation.
Ghana became the 53rd state to sign the Singapore Convention on Mediation. This follows in the footsteps of Ghana ratifying the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards earlier this year. As a result, both domestic and international mediation is now recognised under Ghanaian law, with domestic mediation already enjoying statutory recognition in the Alternative Dispute Resolution Act 2010 (Act 798). With the signing of the Singapore Convention on Mediation, Ghana has taken a further step towards its goal of becoming a mediation and arbitration hub in Africa.
More information on the Singapore Convention including its purpose and key provisions is available on the UNCITRAL website here.