Wednesday, 7th August 2019: Commenting on today’s signing of a new UN Convention on Mediation in Singapore,* President of the MII Margaret Considine stated “At a time when we are faced with a possible no deal Brexit and the world economy is threatened by a deteriorating trading relationship between China and the USA, today’s signing of the UN Convention on “International Settlement Agreements Resulting from Mediation” is timely. The Convention seeks to encourage businesses to use mediation to resolve international disputes as it is faster and cheaper than using courts, and by making mediation settlements more enforceable across international boundaries.”
“The fact that China and the USA are among the countries that have signed the Convention raises the global status of Mediation as an effective way to resolve cross-border commercial disputes and maintain established trade relationships,” said Ms Considine.
* Please follow the link to access a copy of Financial Times press report
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Mediation is a voluntary process of conflict prevention and resolution that allows the parties an opportunity to address their issues in a confidential, private, and safe environment. Mediators are trained in conflict resolution skills and techniques and have the expertise needed to give people the best possible opportunity to resolve their disputes.
Mediation is effective:
The mediation process improves communication, narrows outstanding issues, defuses emotions and defines areas of agreement. Statistics show a success rate for mediation averaging 80 per cent.
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