Ministry of Justice of the Republic of Uzbekistan

At the 18th plenary session of the Senate, a law providing for Uzbekistan’s accession to the UN Singapore Convention on Mediation, formally known as the United Nations Convention on International Settlement Agreements Resulting from Mediation, was approved.

What opportunities will the Law provide?

Settlement agreements reached through mediation in international commercial disputes will be recognized and enforced under a simplified procedure in States Parties to the Convention.

Businesses will have greater opportunities to resolve disputes arising with foreign partners quickly and cost-effectively through mediation, without resorting to court proceedings.

International legal safeguards for the enforcement of settlement agreements resulting from international mediation will be strengthened.

At the same time, the Convention will not apply to settlement agreements involving government bodies or persons acting on their behalf. In addition, it will apply only where the parties to a settlement agreement have agreed to apply the Convention to their relations.

The adoption of the Law will contribute to strengthening legal safeguards for investors, enhancing the country’s investment attractiveness, and further reinforcing Uzbekistan’s standing in international trade and economic relations.