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Singapore Convention Series – Book Review: The Singapore Convention on Mediation: A Commentary by Nadja Alexander & Shouyu Chong

"Anyone managing international business disputes needs to understand the Singapore Convention on Mediation. Not just its terms and limitations, but the reasons why certain matters are included and why others are omitted, as well as how to interpret and apply it. All mediated business settlements with an international angle that are concluded from now on need to take account of this Convention and assume its widespread ratification. In about 200 pages, this work covers all the principles and details we need to negotiate and draft international mediated settlement agreements, or iMSAs.

Because by their nature iMSAs are consensual, they tend to endure. But there’s always the risk that parties in different jurisdictions fail to perform or respect them. Enforcing commercial agreements in a jurisdiction that does not apply the law of the contract, is always challenging. It’s a key reason why companies embroiled in international disputes hesitate to mediate, often preferring an arbitral award that can be enforced practically anywhere under the New York Convention. The Singapore Convention on Mediation of 2019 sets out to correct the enforcement dilemma for iMSAs. It will thereby strongly encourage more international mediations and iMSAs."

Read in full:  

Web-link: http://mediationblog.kluwerarbitration.com/2020/03/03/singapore-convention-serie...
Source: Michael Leather Corporate counsel & author
Language: English
Contact: Michael Leathes