Dispute Resolution and Arbitration Commons^™

The Future Of International Mediated Settlement Agreements: Of Conventions, Challenges And Choices, Eunice Chua

Research Collection Yong Pung How School Of Law

In 2002, UNCITRAL developed the Model Law on International Commercial Conciliation.1 Although at that stage there was a strong effort to develop a uniform enforcement mechanism, the ultimate conclusion was that because of the great variance in the technicalities of domestic procedural laws, harmonisation by way of uniform legislation was not feasible (UNCITRAL 2004: 55). Eventually, Article 15 merely provided that: If the parties reach and sign an agreement settling a dispute, that settlement agreement is binding and enforceable … [the enacting State inserts a description of the method of enforcing settlements agreements or refers to provisions governing such enforcement].