The United Nations Convention on International Peace Agreements Concluded as a Result of Mediation was approved by the President's Decree and published in the Official Gazette on 22.04.2021. This Convention acknowledged the value of mediation in national and international trade and stated that international settlement agreements concluded as a result of mediation will contribute to the development of international economic relations. This Convention applies to settlement agreements concluded as a result of mediation for the settlement of a commercial dispute. The Convention does not apply to settlement agreements concluded in disputes regarding transactions made by one of the parties for himself, his family and his home as a consumer. In addition, the Convention does not apply to settlement agreements concluded during the court or recorded as arbitration awards. This Convention will enter into force 6 months after its ratification.
Announcements & News
