The Singapore Convention on Mediation
This consultation seeks views on whether the UK should sign and ratify the Singapore Convention on Mediation 2018.
The mediation sector in the UK was estimated to be worth £17.5 billion in 2020, and it is estimated that mediation can save businesses around £4.6 billion per year in management time, relationships, productivity and legal fees.
The Singapore Convention is a Private International Law agreement which establishes a uniform framework for the effective recognition and enforcement of commercial mediated settlement agreements across borders. It provides a process whereby someone seeking to rely upon a mediated settlement agreement can apply directly to the competent authority of a Party to the Convention to enforce the agreement.
The Convention was negotiated by the United Nations Commission on International Trade Law (UNCITRAL) and came into force on 12 September 2020. It currently has 55 signatories and 9 parties have ratified it.