Enforcement of International Mediated Settlement Agreements in Asia – A Path towards Convergence

Abstract

In 2014, the United Nations Commission on International Trade Law (UNCITRAL) first considered a proposal for the development of a multilateral convention on the enforceability of international commercial settlement agreements reached through conciliation (defined to include mediation). The goal of this project was to encourage international mediation in the same way that the New York Convention facilitated the growth of arbitration. UNCITRAL Working Group II has since completed its work on a convention on international settlement agreements resulting from mediation and amended model law on international commercial mediation and international settlement agreements resulting from mediation. The UNCITRAL Commission has also approved these instruments. In Asia, where continued growth of cross-border trade is expected, the potential for these UNICTRAL instruments to facilitate the resolution of cross-border commercial disputes and support economic growth is immense. With a focus on jurisdictions such as China, India, Hong Kong and Singapore, this paper discusses the convention and amended model law, and examines how far down Asia is on the path towards convergence in the enforcement of international mediated settlement agreements.

Keywords: UNCITRAL Convention on International Settlement Agreements Resulting from Mediation (Singapore Convention), UNICTRAL Model Law on International Commercial Mediation, enforcement of settlement agreements, dispute resolution