Arbitration is a formal dispute-resolution route used where the lease provides for an arbitrator to determine the reviewed rent.
Evidence and submissions
The parties normally present valuation evidence and argument supporting their positions. The arbitrator determines the dispute within the applicable arbitration framework and lease.
Offers and costs
Settlement offers and costs can become important considerations during an arbitration. Parties should obtain appropriate professional and legal advice on procedure and strategy.
Do not confuse arbitration with expert determination
The roles and procedures are different. Always check which mechanism the lease specifies before commencing a referral.