NEWSLETTER-2019-metin

370 NEWSLETTER 2019 Key Provisions The Convention is comprised of 16 articles. It sets out its scope of application, and provides for certain definitions and general prin- ciples. These are followed by the requirements for reliance on settle- ment agreements, grounds for refusing to grant relief, parallel applica- tions, or claims that may affect relief, other laws or treaties, as well as reservations. Application According toArticle 1 of the Convention, it applies to agreements resulting from mediation and that are concluded in writing by parties to resolve a commercial dispute. In the following Article, the Conven- tion clarifies the writing requirement. “A settlement agreement is “in writing” if its content is recorded in any form. The requirement that a settlement agree- ment be in writing is met by an electronic communication if the information contained therein is accessible so as to be useable for subsequent reference.” 6 The Convention excludes settlement agreements concluded to re- solve a dispute arising from transactions engaged in by one of the par- ties (a consumer) for personal, family or household purposes, as well as those relating to family, inheritance, or employment, from its scope. The Convention, and any reservations thereto, apply prospectively, to settlement agreements which have been concluded after the entry into force of the Convention for the relevant party 7 . Grounds for Refusing of Grant Relief Article 5 of the Convention sets out the grounds for refusing to grant relief which are related to (i) the parties, (ii) the settlement agreement, and (iii) the mediation procedure. These grounds are very similar to those set out in the New York Convention. The Convention provides that the competent authority may refuse to grant relief at the 6 Article 2(2) of the Convention. 7 Article 9 of the Convention.