CCODR is delighted to be leading the way in the provision of Arbitration services to landlords or tenants who have been left with disputes over outstanding commercial rent debts as result of the pandemic.
Although commercial landlords and tenants are encouraged to negotiate agreement, if they cannot reach agreement, the new binding Arbitration system provided by CCODR is the route towards resolution.
Either the landlord or tenant, in tenancies that fall within the scope of the scheme where negotiation has failed, can apply to the scheme unilaterally.
Before entering the scheme, the applying party must notify the other of their intention to pursue legally binding arbitration, together with a final proposal for settlement of the arrears. The other party must respond within 14 days. If this final negotiation fails then the party is ready to apply for entry into CCODR’s legally binding Arbitration process.
The application process could not be any more straightforward, simply go to www.ccodr.com and follow the instructions to register. Any applicant just needs to enter the details of the tenancy and the dispute, pay the application fee and the process has begun. Both parties will at this stage be offered a public or private hearing. In addition to this, CCODR can offer a completely secure online process where a private hearing can take place online using the TalkTerms Engage© platform. TalkTerms have developed the dispute resolution platform allowing:
(1) documents to be uploaded and shared in a totally secure, GDPR compliant, environment;
(2) submission uploaded and awards to be sent to the parties securely via the encryption abilities of the platform;
(3) online multiparty hearings to take place without the costs and inconvenience of traveling to locations around the UK, by using Engage’s end-to-end
This legally binding Arbitration process set up by the Business, Energy & Industrial Strategy (BEIS) is available to all eligible commercial landlords and tenants. It will resolve disputes over pandemic rent debt in the hope that the market can start to return to normal and the stress and worry associated with debt can be relieved.
Only business tenants who were subject to forced closure during the pandemic will benefit from the new concept of protected rent debt. This protected rent debt includes service charges, insurance costs, VAT and interest.
There is a 6 month window to apply to this Arbitration scheme that allows CCODR Arbitrators to award a reduction of protected rent debt and/or time to pay, with a maximum period to repay of 24 months.
CCODR are a Chartered Trading Standards Institute ADR Competent Authority and offers an affordable, swift and accessible access to legally binding Arbitration for those landlords and tenants who need to get on with their personal and business lives, by putting all financial aspects of the pandemic behind them.
Don’t spend any more time worrying about pandemic rent arrears, contact CCODR today and take advantage of this great scheme.