Q. Consider the following statements regarding “Singapore Convention”:
1.It is convention on International Settlement Agreements Resulting from Mediation.
2.It will allow businesses to seek enforcement of a mediated settlement agreement across borders by applying directly to courts of countries that have signed and ratified the treaty.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C
Notes:

Explanation: United Nations (UN) Convention on International Settlement Agreements Resulting from Mediation is the first UN treaty to be named after Singapore.

  • It applies to international settlement agreements resulting from mediation, concluded by parties to resolve a commercial dispute.
  • It will allow businesses to seek enforcement of a mediated settlement agreement across borders by applying directly to courts of countries that have signed and ratified the treaty.

Source: FORUMIAS