1 April 2021
The United Nations Convention on International Settlement Agreements Resulting from Mediation also known as the “Singapore Convention on Mediation” (the “Convention”) applies to international settlement agreements resulting from mediation and establishes a harmonized legal framework for the right to invoke settlement agreements as well as for their enforcement. It came into force on 12 September 2020 and has been signed by 53 Countries as of 1 September 2020 including Nigeria.
The Convention has been hailed as a significant step for international commercial dispute resolution, enabling enforcement of mediated settlement agreements among its signatories. For international businesses this means that they are presented with another viable and effective alternative to litigation and arbitration in resolving their cross-border disputes.
Although Nigeria is a signatory, it has not yet ratiﬁed the Convention. There have been recent calls for the convention to be incorporated in the Arbitration and Conciliation Amendment Bill currently before the National Assembly in a similar manner as the incorporation of the New York Convention in the current Arbitration and Conciliation Act.
This Article examines the Singapore Convention in its current form as well as potential impacts in the ﬁeld of mediation.