Convention On International Settlement Agreements Resulting From Mediation 2019

4. United Nations, General Assembly, Report of Working Group II (Arbitration and Arbitration) on the work of its 64th session, A/CN.9/867 (February 1-5, 2016) from undocs.org/A/CN.9/867. The concept of mediation is not new, especially with regard to internal disputes. Overall, mediation is a process in which the parties attempt to resolve a dispute with the help of a neutral third party who acts as mediator. The mediator does not have the power to impose a decision on the parties and only serves to help them find a mutually acceptable solution. However, the use of mediation on the international stage has not been as important as one might expect. In addition, Article 3 deals with the main obligations of the parties to the agreement, both with respect to the application of the transaction agreements and the right of a litigant to avail themselves of a transaction agreement governed by the agreement. Any party to the convention can define the procedural mechanisms that can be followed if the convention does not impose requirements. Article 4 includes the formalities of recourse to a transaction agreement, i.e.

the party to the dispute provides the relevant authority with the transaction contract it has signed and proves that the transaction agreement is the result of mediation. The competent authority may require any documents necessary to verify that the requirements of the convention are being met. A number of options are provided to certify that the transaction agreement was born from mediation, including a signature of the mediator or a declaration of the institution, because of the need for flexibility. The convention was proposed and adopted by the UN Commission on International Trade Law in December 2018. The Convention is an instrument designed to facilitate international trade and promote mediation as an alternative and effective means of resolving trade disputes. The United States first launched a proposal in 2014 to develop a multilateral agreement for the codification of international trade agreements through mediation. Prior to the entry into force of the Singapore Convention on Mediation, the only multilateral legal instruments for the settlement of international trade disputes were the various international litigation instruments under the Hague Convention on Private International Law and the New York Convention, which provided for arbitration proceedings in such disputes.

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