A Convention on the enforcement of iMSAs …. AND a new Model Law
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So the mediation community is now very close to getting its own “New York Convention” in addition to a Model Law (amending the 2002 Model Law on International Commercial Conciliation to include enforcement provisions and also changing the term “conciliation” to “mediation”). Many in the international mediation community are pinning their hopes on these instruments, and in particular the Convention, to do for mediation what the New York Convention is said to have done for arbitration: to lend mediation the regulatory robustness necessary to become a major international dispute resolution process in its own right. In a 2015 survey conducted by Stacie Strong 74% of respondents indicated they believed that an international treaty concerning the international enforcement of settlement agreements arising out of international commercial mediation would increase the number of such mediations in their home jurisdictions.
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