418 NEWSLETTER 2021 public order in the New York Convention is also valid in the execution of the settlement agreement. • If the subject of the dispute is not suitable for mediation: If the subject of the dispute is not suitable for resolution through mediation in accordance with the law of the state party, the execution of the settlement agreement may be refused.5 Conclusion and Evaluation The settlement agreement reached as a result of a mediation carried out in accordance with the provisions of HUAK, even if it is of an international and commercial nature, is not within the scope of the Singapore Convention, as it is a judgment document according to Article 18 of the HUAK and can be executed in Turkey accordingly. However, since the settlement agreement that can be executed as a judgment document in Turkey is not of this nature in a foreign country, it will be covered by the Singapore Convention. On the other hand, on the condition that there is an element of foreignness, the execution of a settlement agreement in Turkey reached as a result of a mediation that is not made within the scope of the provisions of HUAK may be subject to the provisions of the Singapore Convention. Likewise, even if the settlement agreement concluded as a result of the mediation carried out in another country according to the laws of that country is accepted as a judgment document in the foreign country, its execution can be requested within the framework of the Singapore Convention, since it cannot be enforced as a court decision in Turkey. The Singapore Convention aims at the more frequent use of mediation in international trade by enabling the effective execution of settlement agreements. This is possible, first and foremost, with the signing of a large number of states to the Singapore Convention. Turkey has taken the first step in this direction by signing and ratifying the Singapore Convention. 5 Özel, p. 1200-1207.
RkJQdWJsaXNoZXIy MjUzNjE=