A joint Law Society/RICS scheme, Professional Arbitration on Court Terms (‘PACT) was first introduced in 1997. The idea was to provide a procedural route for taking lease renewals out of the court process, so as to make resolution both quicker and cheaper. At the same time, referral of a lease renewal matter to an experienced commercial property professional would improve the quality of the decision. Back in 1997 the highly tactical nature of the lease renewal procedure, and the traditionally adversarial nature of the court process, meant that getting agreement to refer a case to PACT was difficult, and unusual, despite the evident advantages it offered. Since then, reform of the Landlord and Tenant Act 1954, and changes in litigation culture and procedure, have removed many of the obstacles to a referral, while resourcing issues within the court system have made it ever more attractive to resolve matters in other ways. PACT is finally finding its place in the lease renewal process, and this webinar revisits the pros and cons of the scheme, placing it in its context.
This webinar will consider:
• The rationale for PACT, then and now
• The main features of the scheme
• How the procedure works, within the court’s rules and within the 1954 Act
• Why offer to use PACT?
• When might PACT be inappropriate?