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Mandatory arbitration process unveiled for commercial rent arrears

Mandatory arbitration

The UK Government has unveiled its plans for a new binding arbitration process for landlords and tenants to resolve pandemic rent arrears disputes.

Whilst landlords and tenants are still being encouraged to work together to agree on a way forward that is acceptable to both parties, the Commercial Rent (Coronavirus) Bill, which is set to come into force on 22 March 2022, grants commercial landlords and tenants the right to compel the other party to enter a statutory arbitration process.

For more information please see the revised code of practice and press release.

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If you need specialist advice, guidance or support from our team of legal experts, please email or call us on 02920 224433. Please contact Jo Whitehead, Partner and Head of Property at Loosemores to find out more.

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