PIB CORNER
India to Sign UN Convention on International Settlement Agreements
- The Union Cabinet has approved for India signing of the UN Convention on International Settlement Agreements (UNISA). The convention is also known as the Singapore Convention for Mediation (SCM).
- The United Nations General Assembly adopted the United Nations Convention on International Settlement Agreements Resulting from Mediation ("the Convention") on 20th December 2018.
- The Convention ensures that a settlement reached by parties becomes binding and enforceable in accordance with a simplified and streamlined procedure.
- Signing of the Convention will boost the confidence of the investors and shall provide a positive signal to foreign investors ....
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