MEDIA RELEASE: Australia joins 54 international signatories to the Singapore Convention
14 September 2021
Resolution Institute congratulates the Australian Government for signing The United Nations Convention on International Settlement Agreements Resulting from Mediation, commonly known as the Singapore Convention, on Friday 10 September.
This Convention, which binds local courts to enforce a settlement agreement reached in an international commercial mediation, has received unanimous support and praise from both scholars and practitioners. The Convention takes its place alongside the New York Convention on Arbitration, which has proven to be a cornerstone of international trade and dispute resolution.
“Signing the Singapore Convention helps reaffirm Australia’s position as a global hub for dispute resolution. Mediation is already an essential tool for international trade and business, and Australia signing the Convention shows that we are on the right path to fully realising this fact,” said Amber Williams, CEO of Resolution Institute.
International mediation is worthy of support on its own merits. The Convention introduces certainty in the use of mediation for international commercial disputes, by increasing the efficiency of dispute resolution and enforceability of mediated awards. This allows the inherent advantages of mediation, including its cost effectiveness, flexibility, and delivering greater compliance.
Endorsement of the Singapore Convention is important for government and business alike because of the privacy of mediated agreements and the preservation of amicable relations between parties after a dispute is resolved.
“Becoming a party to the convention will also mean joining the 54 other signatories to the Convention including some of the largest economies in the world such as China and India. Not only will becoming a party to the Convention cement Australia’s global reputation as a place of international business, but it will especially enhance Australia’s relationships in Asia,” said Ms. Williams.
Resolution Institute is the peak industry body across dispute resolution disciplines in Australia and New Zealand. We are a vibrant community of mediators, arbitrators, expert determiners, adjudicators, restorative justice practitioners and other dispute resolution professionals. We value integrity, excellence, innovation, collaboration and diversity. We reflect these values in our work for and with our members.
Sean Brogan, Public Affairs Manager: 0407 436 709
Andrew Serb, Research and Policy Officer: (02) 9251 3366