Most international trade and investment agreements contain arbitration clauses based on international provisions relating to the enforcement of an arbitral award. These provisions include the New York  and ICSID  Conventions. “Despite these childhood illnesses, however, I believe that the Singapore Convention gives commercial parties an urgent impetus to participate meaningfully in mediation. The conclusion of a settlement agreement after successful mediation, knowing that the transaction can be applied in the same way as a court decision or arbitral award without having to worry about compliance with the capricials of foreign jurisdictions, should give decision-makers some additional assurance that their counterparties will meet their obligations. “He said. To support this “non-adjudicative method of dispute resolution”, the need to advance an enforceable conciliation agreement is defined in article 14 of the Conciliation Model Act (“the third-party effectiveness of the conciliation agreement”), which stipulates that settlement agreements concluded in the course of judicial or arbitral proceedings but which do not fall within the scope of a court decision or arbitral award fall within the scope of the instrument. “If the parties enter into a dispute settlement agreement, this settlement agreement is binding and enforceable. [The legislative State may insert a description of the method of enforcement of settlement agreements or refer to provisions governing such enforcement.” Mediation should not be seen as a less effective alternative to court proceedings, in the sense that compliance with the agreements arising from mediation would depend on the goodwill of the parties. Member States should therefore ensure that the parties to a written agreement resulting from mediation can make the content of their agreement enforceable. A Member State should be able to refuse the execution of an agreement only if its content infringes its law, including its private international law, or if its law did not provide for the applicability of the content of the specific agreement…  And on the 7th A signing ceremony will take place in Singapore on 1 August, after three years of debate on a working group attended by 85 countries and 35 organisations. .