Efficient enforcement of international mediation settlement agreements as a component of an effective business environment: The Georgian legal framework in a global context

Efficient enforcement of international mediation settlement agreements constitutes a cornerstone of an effective and attractive business environment. A clear, predictable legal framework enhances legal certainty for commercial entities and promotes alternative dispute resolution as a credible substitute for traditional litigation. While mediation supports the preservation of long-term business relationships through consensus, its practical utility depends heavily on the enforceability of outcomes, particularly in cross-border contexts. In this regard, Georgia has developed a relatively new regulatory model for the recognition and enforcement of international mediation settlements, significantly influenced by international standards and foreign legal experience. This study examines the effectiveness of the Georgian legal framework and evaluates its role in fostering an investor-friendly climate. The research analyses the institutional evolution of the Georgian model, focusing on regulatory scope, procedural simplicity and legal predictability. Special emphasis is placed on identifying existing procedural and substantive gaps, such as issues concerning non-commercial mediation settlements and the specific criteria for enforceable agreements. Utilising doctrinal and comparative analysis, the paper highlights critical challenges within the current framework. Ultimately, it assesses Georgia’s capacity to provide the legal certainty necessary to enhance its competitive standing and overall attractiveness within the global business environment.