Arbitration Agreement

Rent Review Arbitration For Commercial Leases

Agreement
Dated this
Day of
(month)
(year)

Parties:
Claimant

AND
Respondent

Together, the Parties

The Claimant and the Respondent are parties to a commercial lease dated or

Entered into on or about (enter date):

The parties:

(a) have a dispute, difference or disagreement about the new rent and (if applicable) outgoings under the rent review provisions of the lease (dispute) payable from the most recent rent review date; and

(b) [under clause 2.2(a) of the lease and] despite anything to the contrary in the lease [(including in clause 48 of the lease)], agree to refer the dispute to arbitration for determination under the NZDRC Rent Review Arbitration Rules (rules) and agree that:

  • The number of arbitrators will be one;
  • The language to be used in the arbitration will be English;
  • The governing law will be the law of New Zealand;
  • All documents may be served, and all correspondence may be given electronically to the relevant party’s email address specified below;
  • Once the parties execute this agreement, any party may initiate the arbitration by completing the NZDRC’s claim form; and
  • The Claimant and the Respondent will pay the arbitrator’s costs and expenses equally, unless they agree otherwise. The parties’ costs shall lie where they fall. The arbitrator will not make any costs award.

Notices to the Claimant:

Notices to the Claimant may be given to the email address below:
Email:
Contact person:
Phone:

Notices to the Respondent:

Notices to the Respondent may be given to the email address below:
Email:
Contact person:
Phone:

I certify that I have read, understand and agree to be bound by this agreement and the rules.

Claimant
Respondent
Signature:
Signature:
Name:
Name:
Position:
Position:

Download template

Parties may use this Arbitration Agreement to record their agreement to refer a dispute which has already arisen to Arbitration with NZDRC.

The NZDRC Model Clause should be inserted into all new contracts where the parties wish any future disputes to be referred to Arbitration with NZDRC.

DOWNLOAD TEMPLATE