Mandatory arbitration process unveiled for commercial rent arrears
- 2nd December 2021
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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.
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