CCODR, the Consumer Code for Online Dispute Resolution, is delighted to have been appointed as an approved arbitration body, on the Commercial Rent (Coronavirus) Scheme by the Secretary of State, the Rt. Hon. Kwasi Kwarteng MP.
The leading platform for online dispute resolution, case management, and conferencing will join the Scheme, which was designed as part of a market-based approach to help landlords and tenants alike find suitable resolution to any commercial rental dispute.
Michael Bready BL, the Senior Arbitrator at CCODR, stated, “We are pleased to be appointed to this significant Scheme which will assist this sector in resolving their rental disputes in both a timely and very cost-effective manner.”
Bready added “To deliver a first-class experience to those using our service, we have partnered with Hunt ADR, who hold many years of experience in arbitration. We have married that together with our technology partner TalkTerms , who provides us with their state of the art platform, Engage. We believe our arbitration service will deliver an outstanding experience to those that choose it”.
As of 25 March 2022, this new arbitration scheme, which is binding on both commercial landlords and tenants, will deal with rent arrears relating to the period when a business had to close due to Covid-19 restrictions. The legislation applies to England and Wales but not to Northern Ireland or Scotland.
On launching the scheme, Business Minister, Paul Scully MP said: “This new law will give commercial tenants and landlords the ability to draw a line under the uncertainty caused by the pandemic so they can plan ahead and return to normality. Therefore, it is now possible for either landlord or tenant to refer their commercial rent dispute to an approved arbitrator. CCODR is an approved arbitration body as announced on 25 March 2022. Under the Scheme, an arbitrator can waive all or part of the rent or make provision for payment in instalments over a maximum of 24 months. They cannot include any other relief as part of their award.
Hunt ADR Chief Executive Gregg Hunt said, “at Hunt ADR, over many years, we have accumulated a large panel of some of the most experienced arbitrators in the UK. This opportunity to work with CCODR will enable us to bring that experience to bear in this very timely Scheme. Having recently trained on the TalkTerms Engage platform, we are excited to now be using some of the most advanced technology in the industry”.
John Keers, a Co-Founder at TalkTerms, stated, “we have been very keen to play our part in the recovery from Covid 19 within the economy, and this Scheme is very important to so many within the commercial rental market. We are proud that our technology can help the team in both CCODR and Hunt ADR to deliver their commitments under the Scheme in a secure and convenient manner”.
For more information on CCODR’s arbitration service, don’t hesitate to contact us at email@example.com