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

Litigation is a method that people seek to avoid. It is expensive, time consuming, emotionally draining and unpredictable. Thus, alternative dispute resolution mechanisms, such as arbitration and mediation, are becoming more and more popular. As far as mediation is concerned, when a settlement agreement is reached, parties often voluntarily abide by its terms, but sometimes fail to do so. The absence of an international cross- border mechanism to enforce the settlement agreement resulting from mediation was therefore seen as one of mediation’s major flaws. More precisely, in order to enforce the settlement agreement resulting from mediation, it was necessary either to homologate it by a notary or a judge so it can be embodied in an authentic instrument or a judgment, or to file an action for breach of contract before the competent authority. In order to overcome this hurdle, and along with the enactment of harmonised international and regional legal instruments regulating mediation, the Convention on International Settlement Agreements Resulting from Mediation was crafted (referred to as the Singapore Convention or the Convention).