President Sadyr Japarov signed a law on Kyrgyzstan’s accession to the UN Convention on International Settlement Agreements Resulting from Mediation, adopted on December 20, 2018, in New York.
The document aims to simplify the recognition and enforcement of settlement agreements between companies and parties from different countries concluded through mediation—a peaceful settlement of disputes without court proceedings.
Kyrgyzstan has added a reservation: the convention will only apply in cases where the parties have voluntarily consented to its use.
The Ministry of Foreign Affairs has been instructed to submit the instrument of accession to the UN Secretary-General, the depositary of the convention. The law will enter into force in ten days.
