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A Brief Analysis Of The Singapore Convention – International Trade & Investment


1. Introduction

This article will provide a brief analysis of the Singapore
Convention. Disputes on international trade and friendly settlement
have been a matter of discussion on the international plane over
the years.

2. What is the Singapore Convention?

On 20 December 2018, the United Nations General Assembly, by
consensus, passed a resolution to adopt the United Nations Convention on International
Settlement Agreements Resulting from Mediation
. The General
Assembly named this new agreement as “the Singapore Convention
on Mediation’.1 As the Assembly authorized the
signing ceremony of the Convention to be held in Singapore on 7
August 2019, the Convention is also called the Singapore
Convention.2

3. What does the Singapore Convention do?

The Singapore Convention on Mediation intends to ‘facilitate
international trade and commerce by enabling disputing parties to
easily enforce and invoke settlement agreements across
borders’.3 The Convention is based on concluding
international settlement agreements through mediation. The text of
the Convention will be at the centre of settling cross-border
disputes.

4. How many countries signed the Convention?

As of 18 May 2022, the number of signatories increased to
55.4

5. How many countries ratified the Convention?

Only 10 states completed the ratification process of the
Convention up to now:5 Kazakhstan, Belarus, Ecuador,
Fiji, Georgia, Saudi Arabia, Turkey, Singapore, Qatar,
Honduras.6 Kazakhstan is the most recent party to the
Convention.

6. Is the Republic of Turkey party to the Convention?

Turkey adopted the Law (No:7282) approving the ratification of
the Singapore Convention on Mediation.

Official Gazette concerning the Law in question is available
online here.

Turkey is, therefore, a party to the Convention.

7. Is the Singapore Convention in force?

The Convention is open to signature after the ceremony held in
Singapore on 7 August 2019.

In accordance with its text, for the relevant state, the
Convention comes into force six months after the deposit of the
third instrument of ratification, acceptance, approval or
accession.7 The completion of one of such procedures
will be sufficient in enforcing.

8. Is the Singapore Convention on Mediation in force within the
jurisdiction of Turkey?

‘When a State ratifies, accepts, approves or accedes to this
Convention after the deposit of the third instrument of
ratification, acceptance, approval or accession, this Convention
shall enter into force in respect of that State six months after
the date of the deposit of its instrument of ratification,
acceptance, approval or accession’.8

Turkey adopted the Law (No:7282) approving the ratification of
the Singapore Convention on Mediation, published in the Official Gazette on 11 March
2021
.

The Law (No:7282) approving the ratification of the Singapore
Convention on Mediation was approved by the Presidential Decree on 21 April
2021.

With the deposit of the instrument of ratification at the UN
Headquarters in New York, Turkey becomes the eighth State Party to
the Convention. The ratification by Turkey was effected on 11
October 2021. Accordingly, the Singapore Convention on Mediation
entered into force in Turkey, as of 11 April 2022.9

9. Conclusion

As analyzed above, the Singapore Convention on Mediation is
designed as a uniform and efficient legal framework on the
international plane. It is applicable to international settlement
agreements resulting from mediation within the jurisdiction of 9
countries including Turkey for now, and 55 countries in the near
future.

Footnotes

1. United Nations Convention on
International Settlement Agreements Resulting From Mediation,
Resolution adopted by the General Assembly in its seventy-third
session (A/RES/73/198), preliminary
paragraphes.

2. United Nations Convention on
International Settlement Agreements Resulting From Mediation,
Resolution adopted by the General Assembly in its seventy-third
session (A/RES/73/198), preliminary
paragraphes.

3. See official website of the
Convention,https://www.singaporeconvention.org
,
accessed 18 May 2022.

4. See official website of the
Convention, https://www.singaporeconvention.org
,
accessed 18 May 2022.

5. See official website of the
Convention, https://www.singaporeconvention.org
,
accessed 18 May 2022.

6. See official website of the United
Nations Treaty Collection, https://treaties.un.org/pages/ViewDetails.aspx?src=TREATY&mtdsg_no=XXII-4&chapter=22&clang=_en,
accessed 19 May 2022.

7. United Nations Convention on
International Settlement Agreements Resulting From Mediation,
Resolution adopted by the General Assembly in its seventy-third
session (A/RES/73/198), para. 14.

8. Ibid.

9. See official website of the United
Nations Information Service, ‘Press Releases:Turkey ratifies
the United Nations Convention on International Settlement
Agreements Resulting from Mediation’, https://unis.unvienna.org/unis/en/pressrels/2021/unisl322.html,
accessed 19 May 2022.

Originally published May 24, 2022

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.



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