The IUP Journal of Law Review
The Singapore Convention on Mediation: A Step Towards Facilitating International Trade

Article Details
Pub. Date : Apr, 2020
Product Name : The IUP Law Review
Product Type : Article
Product Code : IUPLR30420
Author Name : S B Md. Irfan Ali Abbas
Availability : YES
Subject/Domain : Law
Download Format : PDF Format
No. of Pages : 15

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Abstract

Resolving disputes in the international arena poses several challenges like divergence in interests between the domestic and international sectors, conflict of laws, rejection and non-implementation of judicial decisions, recognition and enforcement of arbitral awards, etc. There has been a pressing need to offer reliable, consistent and just enforcement of business deals. The International Institute for Conflict Prevention and Resolution (CPR) believes that a truly satisfactory, globally applicable dispute resolution process for cross-border conflicts must include the broadly accepted practice of commercial mediation.1 Mediation and arbitration, though belong to same category of Alternative Dispute Resolution, are starkly different from each other, where one is an informal consensual method, and another is a formal adjudicative method. Mediation offers to the parties an opportunity of arriving at creative, collaborative solutions, by adding value to the pie, which may not always be possible in an arbitration. The parties to international trade prefer attempting the value adding mediation, before going for the more expensive and time-consuming task of arbitration. The recent United Nations Convention on International Settlement Agreements Resulting from Mediation, 2019 (Singapore Convention) promotes the widespread international enforceability of settlement agreements. It has magnificently done away with the long borne difficulty of enforcing mediated settlement agreements, which goes a long way in facilitating international trade.


Description

Individuals, companies, interest groups and countries have a legitimate interest in trade; the greater the extent of global trade between two countries, the more they are reliant on each other, leading to a substantially less conflict tendency.3 Conflicts/Disputes are situations in which two or more actors consider their interests to be inconsistent with each other, and opposing parties generally find it helpful to assign conflict management activities to independent third-parties.4 States look at conflicts as not just legal issues; but they have political and economical significance, and sometimes influence both society and the environment.5 In the last two decades, international mediation has been extended and deepened considerably, and collaboration between various mediation and conflict management activities is more important.6

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