July 1st 2020
The Royal Institution of Chartered Surveyors (RICS), have announced a fast-track adjudication process, with a summary decision provided within 14 days of the referral. This decision will be outline only and restricted to one page of A4. However, either party at their own expense can request full reasons from the adjudicator.
The process covers claims up to £20,000 with a capped fee of £1,000, plus VAT. There will be no site visits provided under this service.
This initiative is a response to Covid-19 and it appears that it may be only a temporary measure. However, with the advent of the Corporate Insolvency and Governance Bill, putting severe restrictions on the initiation of winding up orders (e.g. it has to be demonstrated that insolvency was not Covid-19 related), this alternative dispute resolution may be of interest to parties involved in relatively straight forward and low value payment disputes.