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Singapore Convention on Mediation to enter force in Belarus on 15 January
An archive photo
MINSK, 14 January (BelTA) – The United Nations Convention on International Settlement Agreements Resulting from Mediation (Singapore Convention on Mediation) and respective amendments to national laws will come into force in Belarus on 15 January 2021, BelTA learned from the press service of the Justice Ministry.
This document is meant to formalize the commitment to recognize mediation agreements in the participating states. At the international level, its conclusion and application result in increased competition between the main dispute resolution procedures. It benefits businesses because it provides for compulsory execution of an international mediation agreement in the member states in the manner determined by the convention.