Originally from Alternatives to the High Cost of Litigation

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Finally, the United Nations Convention on International Settlement Agreements Resulting from Mediation has been officially launched. The Singapore signing ceremony took place on Aug. 7.

The ceremonial launch was impressive: 46 U.N. member states signed the convention, among them the United States, Singapore, China, India, Israel, Japan, and Switzerland. The United Kingdom and the European Union member states have not signed at this writing.

While a first step has been taken, at least three U.N. Commission on International Trade Law—best known as Uncitral—member states must ratify the convention for it to come into force. In view of the enthusiastic early reception, it seems likelier than not that the Singapore Convention will become black letter law in many jurisdictions.