The shaping of multilateralism in the recent times has taken a sharp term towards nationalistic approaches and corroding of international cooperation, so much so that multilateralism is considered to be dead and the same seems to be aggravated in the times of the global pandemic.  However, to encourage the adoption of mutual benefits the United Nations General Assembly finalized the text of a multilateral treaty, alongside an amended model law. The treaty, namely- United Nations Convention on International Settlement Agreements Resulting from Mediation, also known as the “The Singapore Convention,” hence provides for the ability to the parties to enforce and resort to international mediated settlement agreements for the solving of disputes related to commercial transaction.

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