On 28 April 2021, AMC entered into a Memorandum of Understanding on the Alliance for Mediation Standards (“the Alliance MOU”) which became the region’s first global multi-party MOU covering four continents.
The Alliance MOU saw centres from Malaysia, China, Singapore, France and all Lusophone countries including Brazil and Portugal commit to a collaborative instrument to promote greater cooperation between member dispute resolution centres as well as increased opportunities for co-mediation between mediators in Alliance member centres. The Cross-Recognition Scheme in the Alliance MOU effectively recognizes the standards for each of these centres to that mediators in these centres may seek empanelment in partner centres for the purpose of providing enhanced options for business users.
The greatest beneficiaries of the Alliance MOU are business users who are seeking a more cost and time efficient way to resolve disputes which may occur outside of their jurisdiction. Mediation provides an effective alternative to costly litigation or arbitration and removes the uncertainty and stress of being in a foreign court.
The Alliance MOU represents another step in the evolution of dispute resolution as it combines the innovation of technology with the existing financial accessibility of mediation to remove all barriers towards cross-border dispute resolution. With the rise of regional free trade agreements promoting the lowering of barriers in trade, such as the Regional Comprehensive Economic Partnership (“RCEP”) which accounts for more than 30% of global GDP, there is an urgent need to find borderless solutions to disputes arising from cross-border transactions.
Above all, the Alliance MOU recognizes the spirit of collaboration and friendship already present in these countries and continues the trend whilst maintaining global standards in the sphere of mediation.
As a founding member of the Alliance and a thought-leader in the area of mediation, AMC’s vision is to pursue a continued expansion of this Alliance in line with the aim of reducing barriers to access in relation to dispute resolution mechanisms.