Industry players have hailed the United Nations Convention on Mediation, named the Singapore Convention on Mediation, as a game-changer, with mediation settlements becoming enforceable between signatory countries.
It addresses the lack of enforcement options for mediation, which currently prevents companies from using this dispute resolution method, they added.
Retired United Kingdom Supreme Court judge Jonathan Mance said the convention aims to repeat for mediation the success of the New York Convention in 1958, which involved international arbitration.
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