For information only - not an official document
10 September 2020
VIENNA, 10 September (UN Information Service) - With the deposit of the instrument of ratification at the UN Headquarters in New York, Ecuador becomes the sixth State Party to the United Nations Convention on International Settlement Agreements Resulting from Mediation, also known as the "Singapore Convention on Mediation". The ratification by Ecuador was effected on 9 September 2020 and the Convention will enter into force for Ecuador on 9 March 2021. Ecuador's ratification of the Singapore Convention comes just two days before it will enter into force on 12 September 2020. A virtual celebration of the Convention's entry into force will be held on 12 September 2020 at https://www.singaporeconvention.org/.
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 addition to Ecuador, fifty-two States have signed the Convention since it opened for signature on 7 August 2019, making it one of the most successful multilateral treaties prepared by the United Nations Commission on International Trade Law (UNCITRAL). Up-to-date information on the Convention and its status is available on the UNCITRAL website: https://uncitral.un.org/.
The United Nations Commission on International Trade Law (UNCITRAL) is the core legal body of the United Nations system in the field of international trade law. Its mandate is to remove legal obstacles to international trade by progressively modernizing and harmonizing trade law. It prepares legal texts in a number of key areas such as international commercial dispute settlement, electronic commerce, insolvency, international payments, sale of goods, transport law, procurement and infrastructure development. UNCITRAL also provides technical assistance to law reform activities, including assisting Member States to review and assess their law reform needs and to draft the legislation required to implement UNCITRAL texts. The UNCITRAL Secretariat is located in Vienna, Austria, and maintains a website at https://uncitral.un.org/.
* *** *
For more information please contact:
José Angelo Estrella Faria
Principal Legal Officer and Head, Legislative Branch