Arbitration on rent debt relief for businesses affected by coronavirus
The Government has released a draft of the guidance for arbitrators on the exercise of their functions under Part 2 of the Commercial Rent (Coronavirus) Bill. The Government has emphasised that the draft is incomplete and is being published for the purpose of consultation to develop the draft, with the completed statutory guidance to be published after the Bill receives Royal Assent.
This current draft contains the following:
- An explanation of the provisions of the Bill relevant to arbitrators and of the Arbitration Act 1996; and
- an initial explanation of the concept of “viability of a tenant’s business” in the Bill (this will be developed further upon feedback).
A link to the draft guidance is detailed: 'Arbitration on rent debt relief for businesses affected by coronavirus'.
The Government invites views on this draft guidance, in particular in relation to any areas where it is thought that further clarification for arbitrators may be needed. Comments by email to firstname.lastname@example.org; and email@example.com