29 September 2010

mydeposits.co.uk, a provider of tenancy deposit protection, has been nominated as a finalist in the prestigious Centre for Effective Dispute Resolution (CEDR) Awards for Excellence.

The awards recognise excellence in dispute resolution services and conflict management among organisations in the United Kingdom and internationally.

mydeposits.co.uk has been nominated in the Significant Achievement in the Field of Dispute Resolution award category, for helping resolve disputes over deposits between landlords and tenants under its tenancy deposit protection scheme.

Since launching in 2007, mydeposits.co.uk has provided a free resolution service and helped resolve more than 11,000 disputes.

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

“We're absolutely delighted to be nominated for this award. It is reward for the hard work and dedication shown by the my|deposits team who have worked tirelessly to quickly and fairly resolve disputes between landlords and tenants. It should be remembered that only three years ago there was nothing like this service to help resolve deposit disputes so to come this far and in such a short time is unbelievable.

“The award nomination recognises not just the adjudication stage but also the case management processes which have been developed from scratch.

“The initiatives we have launched during the past three years include a unique interactive online dispute management system which has helped to dramatically reduce the amount of time it takes to resolve a dispute by nearly a quarter. This means landlords and tenants are getting closure to their dispute far more quickly than using the court process - definitely a cause to celebrate.”

Mandatory tenancy deposit protection was introduced by the government in April 2007 and mydeposits.co.uk has protected more than 500,000 tenancy deposits, allowing landlords to hold the money during the tenancy instead of placing it into a custodial scheme.

Other organisations nominated for the CEDR Awards for Excellence 2010 include international law firm Herbert Smith and Lloyds Banking Group, with the winners to be announced on 17 November.

For more information about my|deposits and tenancy deposits, visit www.mydeposits.co.uk or call 0844 980 0290.

-ENDS-

For further information please contact:

Dane Svenson
Press Officer
mydeposits.co.uk
E: dane.svenson@mydeposits.co.uk
T: 020 7840 8925
M: 07508 031 084

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:

The Centre for Effective Dispute Resolution (CEDR) is an independent, non-profit organisation with a mission to cut the cost of conflict and create choice and capability in dispute prevention and resolution. It sets the standard for dispute resolution and conflict management with leading mediation, consultancy and training services. The CEDR Awards recognise organisations and individuals that demonstrate the best in alternative dispute resolution and conflict prevention or management. More information can be found at www.cedr.com