The Commercial Rent (Coronavirus) Bill has received Royal Assent and is now law.
Though some details are still to be announced regarding the arbitration process, this law means that if you have rental debt due to a Covid affected period of trading (defined as protected debt), and you have not been able to reach an agreement with your landlord regarding the debt, then you can use the arbitration process to obtain a ruling.
This course of action is also available to landlords. Arbitration should be seen as a last resort but this law prevents any eviction procedures in relation to this protected debt and will expect arbitration to make a final decision regarding the solution for the rental debt. The decision of the arbitrator is binding on both parties.
The Department for Business is keen to know the current situation with regards rental debt and is asking you to complete the survey below. Please do this as it is important for the Government to understand the size of the problem in regards to rental debt.
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