IIAM Mediation Rules shall also apply to the mediation of present or future disputes where the parties seek amicable settlement of such disputes and where, either by stipulation in their contract or by an agreement to mediate, they have agreed that the IIAM Rules shall apply. The parties may agree to vary the Rules at any time. IIAM is a member of Asia-Pacific Centre for Arbitration & Mediation (“APCAM”) and where the parties seek to resolve any international dispute under the IIAM Mediation Rules, they are deemed to have agreed to resolve such disputes as per the Mediation Rules of APCAM. This help the business community to resolve their international commercial and business disputes by mediation under a single set of Mediation Rules and with a uniform fee structure in all the APCAM member countries to minimize the hassle of adhering to different laws or fees of different institutions. For details, Click here The importance of private mediation in international business dispute resolution has become even more pertinent after the United Nations brought out a convention, viz., the “United Nations Convention on International Settlement Agreements Resulting from Mediation” (Singapore Convention), which was adopted on 20 December 2018. The Convention was made open for signature on 07 August 2019 and India was a signatory along with 46 other countries, as on that date. As of date there are 55 signatory countries and the Convention has come into force as on 12/09/2020. Once the signatory countries ratify the Convention, mediated settlement agreements becomes enforceable like an arbitral award in all those countries as per the Convention. The Convention does not apply to court-annexed mediations, making the importance of private mediations in cross-border business disputes highly recommended.