The Hong Kong Mediation Centre (HKMC) is delighted to have signed the collaborative agreement with Hong Kong Institute of Certified Property Managers (HKICPM) and the Hong Kong International Commercial Arbitration Centre (HKCICA) on June 26, to establish a property management and real estate professional dispute resolution service scheme. The industry-specialised scheme aims at encouraging disputing parties to resolve disputes efficiently by using independent and impartial international professional mediation and arbitration services.
For the betterment of service quality and efficient case management, HKMC will be setting up an "Property Management and Real Estate Professional Mediation Panel", while HKCICA will also be providing specialised arbitrators under the organisation's specialised panel "Property Management and Real Estate Professional Arbitration Panel".
The parties to the dispute may jointly select the mediator on the HKMC panel to be in charge of their case. If a settlement cannot be reached, the case will be submitted to the HKCICA for arbitration.
Mediation and arbitration are effective dispute resolution methods. In comparison to litigation, they serve an advantage by saving time and money. The HKMC encourages parties to utilise this collaborative service scheme to resolve the property management and real estate related dispute with this flexible and effective dispute resolution mechanism.