Members of the United Nations on Wednesday signed the Singapore Convention on Me...
Containers are seen at the Yangshan Deep Water Port in Shanghai, China August 6, 2019. REUTERS/Aly Song
The U.N. Convention on International Settlement Agreements Resulting from Mediation, its official title, was signed in Singapore by 46 U.N. members, including the United States and China. U.N. conventions are often named after the country or city where they are signed. “This will help advance international trade, commerce and investment,” said Singapore’s Prime Minister Lee Hsien Loong at the signing ceremony.
Mediation is already used to settle commercial disputes in jurisdictions like the United States and the United Kingdom but it is not globally accepted. It is hoped the convention will improve the credibility of mediation.
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