Georgia ratifies the UN Convention on International Settlement Agreements Resulting from Mediation

The United Nations Information Service (UNIS) Vienna via a recent Press Release dated 04.01.22, announced that Georgia ratifies the United Nations Convention on International Settlement Agreements Resulting from Mediation also known as the “Singapore Convention on Mediation” with the deposit of the instrument of ratification at the UN Headquarters in New York, thereby becoming the ninth State Party under the said Convention. The ratification by Georgia was effected on 29 December 2021 and the Convention will enter into force for Georgia on 29 June 2022.

The Singapore Convention on Mediation facilitates international trade and promotes mediation as an alternative and effective method of resolving commercial disputes by providing an effective mechanism for the enforcement of international settlement agreements resulting from mediation.

The Convention is open for signature, ratification, and accession by States and regional economic integration organizations. In total, fifty-five States have signed the Convention since it opened for signature on 7 August 2019. Up-to-date information on the Convention and its status is available on the UNCITRAL website.

Pic and Article Source: UNIS Vienna

Share this post

Leave a Reply

Your email address will not be published.

Translate »