The Settlement of Lease Renewal Disputes : New Guidance

RICS and The Law Society have issued new guidance to surveyors and lawyers involved in the renewal of commercial property leases, which came into effect on 1 August 2018.

This is published as the 2nd edition of their Guidance Note under the alternative dispute resolution scheme known as PACT (Professional Arbitration on Court Terms), which is a well-established and efficient means to resolve disputes as to rent and other terms in business tenancy renewals, avoiding the need for expensive litigation in Court.

The flexibility and versatility of PACT renders it well suited to the needs of landlords, tenants and their advisers.