FLORENCE, ITALY – The Florence International Mediation Chamber (FIMC) has obtained another important international recognition. The United Nations Commission on International Trade Law (UNCITRAL) has awarded to FIMC the observer status, as non-governmental organizations, to attend the sessions of Working Group II, the panel which discusses issues in the matters of mediation. FIMC is the Florence Chamber of Commerce high standard mediation services for corporates and individuals: few weeks ago it signed two Memoranda of Understanding with Singapore and New York institutions.
The observer status allows holding speeches and making proposals from the beginning. That’s why at the session that is opening today at the Vienna ONU offices (Wien International Centre) and which will end on 11th September, FIMC will file a proposal concerning the enforceability of settlement agreements arising out of international mediation procedures, taking cue from the Chamber of Commerce knowledge in the matter of domestic mediation and from the Italian legislation. Since 2010, according to Italian law, settlements agreements reached through mediation are capable to become enforceable if they address certain characteristics and requirements.
In this period Working Group II is just working on the feasibility of an international convention, which, if defined, will allow the enforceability of settlement agreements, resulting from international mediation procedures in all the signatories countries. This prerogative will strongly increase the usefulness of mediation for companies operating in a global market and, consequently, the use of this ADR instrument.