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Dispute Resolution Service in Hong Kong

Dispute Resolution Service in Hong Kong

The RICS Hong Kong Branch Valuation Faculty has set up Independent Expert and Arbitrator Panels/Lists and a system for appointment of such by the RICS upon request by parties involved in valuation disputes.

Where a valuation, often at a future date, is required in legal documents (e.g. leases with rent reviews and options to renew or options to purchase), it often states that in the event of such valuation not being agreed between the parties such will be determined by either an Independent Expert or Arbitrator to be agreed between the parties.

In the event of none agreement of the Valuation Surveyor to act as Independent Expert or Arbitrator, the current Hong Kong practice is that such valuation surveyor is to be appointed by the President of the HKIS upon application by one of the parties to the dispute. Surveyors are used as Independent Experts / Arbitrators in two broad generic classifications of disputes.

It is therefore suggested that the RICS Panels of Independent Experts and Arbitrators caters for large or complex cases as a ‘premium product’. This not only provides a very important service to the business and property communities – but reinforces the RICS brand and position as the leading property professional.

In this regard – the RICS Panels will therefore be complementary to the existing HKIS Lists and process.

Contact the DRS team

RICS Dispute Resolution Service
55 Colmore Row
B3 2AA

Call: +44 (0) 20 7334 3806

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