7 April 2010

mydeposits.co.uk, a leading tenancy deposit protection scheme, has selected CEDR Solve to provide additional Alternative Dispute Resolution with immediate effect.

Alternative Dispute Resolution is evidence-based and uses professional, impartial adjudicators in larger dispute cases between landlords and their tenants.

mydeposits.co.uk is now the only tenancy deposit scheme to adjudicate the majority of larger disputes externally. This guarantees landlords and tenants are treated impartially and fairly.

Eddie Hooker, Chief Executive, mydeposits.co.uk, said:

“Our commitment to free and impartial dispute resolution is demonstrated by this new partnership between mydeposits and CEDR Solve.

“Although only 0.6 per cent of all deposits currently protected by mydeposits end with the need for formal adjudication, it is important that our business model remains robust if more dispute cases are raised.

Gregory Hunt, Director, CEDR Solve, added:

“The work of mydeposits is crucial in assisting the UK housing market to function more smoothly. We feel very privileged to be brought in to use our Alternative Dispute Resolution expertise on this important initiative.”

mydeposits.co.uk uses two companies for Alternative Dispute Resolution: www.idrs.ltd.uk and www.cedrsolve.com

-ENDS-

For further information, please contact:

Ellie Irwin
mydeposits.co.uk
E: ellie.irwin@mydeposits.co.uk
T: 020 7840 8925

NOTES TO EDITORS:

About mydeposits.co.uk:

Mydeposits is the trading name of Tenancy Deposit Solutions Limited, a company jointly owned by the National Landlords Association and HFIS plc T/A Hamilton Fraser Insurance (the Scheme Administrator) to deliver an insurance-backed tenancy deposit protection scheme under contract from Communities & Local Government. Landlords and letting agents wishing to use this scheme are required to register with the Scheme Administrator. They can find out more and register by visiting www.mydeposits.co.uk. Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies. Fees are tax-deductible. In the event of a dispute at the end of the tenancy agreement, both parties are offered access to alternative dispute resolution (ADR). This procedure will be evidence-based, relying on documentation and records.

About CEDR Solve:

CEDR Solve, the UK’s leading commercial mediation provider, is CEDR’s dispute resolution and prevention service and has managed over 16,000 dispute enquiries covering every industry sector and a wide-raging cross section of disputes and case values. Case studies are available on CEDR’s website – www.cedrsolve.com.

CEDR (the Centre for Effective Dispute Resolution) is the leader in the development of neutral-assisted dispute resolution. It is a non-profit organisation and its mission is to encourage and develop cost effective dispute prevention and dispute resolution in commercial and public sector disputes and in civil litigation. CEDR operates in the UK and internationally and has been instrumental in helping to bring mediation into the heart of business practice and into the judicial system. CEDR Mediator Accreditation is recognised as an international standard.