Law No. 7282 on the Approval of the United Nations Convention on International Compromise as a Result of Mediation was published in the Official Gazette No. 31420 dated March 11, 2021.
The United Nations Singapore Convention on International Compromise Agreements as a Result of Mediation made on 20 December 2018 was opened for signature on 7 August 2019, and 46 countries signed the Convention on the first day. The Singapore Convention aims to increase the use of mediation method in international trade by making it possible to execute compromise agreements in the international arena in a faster and easier way. The realization of this goal depends on the fact that many states are party to the Convention and include it in their domestic law.
Turkey was among the countries that have also signed on August 7, 2019. In this Law, it was stated that it is appropriate to approve the United Nations Convention on International Compromise Agreements Concluded as a Result of Mediation. It has been announced that the Law No. 7282 will enter into force on 11 March 2021, the date of its publication.
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