IRRV Alert - week ending 25th March 2022 Part 2
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Arbitration bodies selected to manage rent related disputes (24 March 2022)
Notice
Arbitration bodies selected to manage rent related disputes
We requested applications from arbitration bodies to establish and deliver the arbitration scheme under the Commercial Rent (Coronavirus) Bill: the list of approved bodies is available here.
- From:
- Department for Business, Energy & Industrial Strategy
- Published
- 21 January 2022
- Last updated
- 24 March 2022 — See all updates
Documents
Application process to become an approved arbitration body
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Details
The purpose of the Commercial Rent (Coronavirus) Bill is to support landlords and tenants in resolving disputes concerning rent owed by businesses required to close during the pandemic.
The Bill introduces an arbitration system to resolve disputes where a settlement cannot be reached.
The system is administered by suitable arbitration bodies approved by the Secretary of State as provided in clause 7 of the Bill. Under clause 8 of the Bill, the functions of approved arbitration bodies include:
- maintaining a list of available and suitable arbitrators
- appointing arbitrators from that list to deal with the matter of relief from payment of a protected rent debt referred to the body under the Bill
Landlords and tenants will apply to the approved arbitration bodies for arbitration services.
Update: 24 March 2022
In January 2022 we launched an application process for arbitration bodies to apply for approval; it closed to applications on 11 February. The Secretary of State has now approved the following arbitration bodies:
- Chartered Institute of Arbitrators (CIArb)
- Royal Institute of Chartered Surveyors (RICS)
- Consumer Dispute Resolution
- Falcon Chambers Arbitration
- Dispute Resolution Ombudsman
- London Chamber of Arbitration and Mediation (LCAM)
- The Consumer Code for Online Dispute Resolution (CCODR)
The approval application process guidance outlines the criteria on which arbitration bodies were selected, demonstrating that they are suitably equipped to administer the arbitration scheme.
Published 21 January 2022
Last updated 24 March 2022 + show all updates