SKWM Schweizer Kammer für Wirtschaftsmediation
Viel Allgemeine Infos zum Thema Wirtschaftsmediation
Singapore Convention on Mediation
A uniform and efficient framework for international settlement agreements resulting from mediation
The Singapore Convention applies to international settlement agreements resulting from mediation, concluded by parties to resolve a commercial dispute. It provides an efficient and harmonised framework for the enforcement of international settlement agreements resulting from mediation and for allowing parties to invoke such agreements.
The Singapore Convention has been designed to become an essential instrument in the facilitation of international trade and in the promotion of mediation as an alternative and effective method of resolving trade disputes. It ensures that a settlement reached by parties becomes binding and enforceable in accordance with a simplified and streamlined procedure. It thereby contributes to strengthening access to justice and the rule of law.
Mediation is known for improving efficiency of dispute resolution and flexibility. The mediator’s role is not to adjudicate, but rather to facilitate discussions between disputing parties to arrive at a mutually acceptable solution. The mediation process is more flexible, and in many instances, more cost and time efficient than other dispute resolution processes such as litigation and arbitration.
Until the introduction of the Singapore Convention however, an often-cited challenge to the use of mediation was the lack of an efficient and harmonised framework for cross-border enforcement of settlement agreements resulting from mediation. It was in response to this need that the Singapore Convention was developed and adopted by the United Nations.
The New York Convention
The Convention on the Recognition and Enforcement of Foreign Arbitral Awards, also known as the «New York Arbitration Convention» or the «New York Convention», is one of the key instruments in international arbitration. The New York Convention applies to the recognition and enforcement of foreign arbitral awards and the referral by a court to arbitration.