United Nations Convention on International Settlement Agreements Resulting from Mediation (“Singapore Convention”), signed by Turkey on 7 August 2019, entered into force upon being published in the Official Gazette dated 22 April 2021 and numbered 31462. Pursuant to Article 90 of the Constitution of the Republic of Turkey, the Singapore Convention has also become a part of Turkish legislation since international treaties duly put into effect possess the force of law. Similar to the fact that the 1958 New York Convention (“NYC”) all
Similar to the fact that the 1958 New York Convention (“NYC”) allows an arbitral award rendered in one signatory country to be easily recognised and enforced in another signatory country, the entry into force of the Singapore Convention, which provides a mechanism for the cross-border enforcement of settlement agreements resolving international commercial disputes by mediation, has significant importance in terms of paving the way for settlement agreements to become enforceable.
We have published a new Paksoy briefing: “The Singapore Convention Entered Into Force”. You can reach the entire briefing here.
Share
Related persons
You can contact us for detailed information.
Legal Information
This is for information purposes; it is not legal advice. As laws and their interpretation may change, please consult Turkish legal counsel to confirm the current position and obtain advice tailored to your circumstances before making any decision or taking action in relation to your matter in Türkiye. All rights reserved.