The Financial Dispute Resolution Centre (FDRC) was set up in November 2011 as a non-profit making company limited by guarantee. It is an independent and impartial organisation administering the Financial Dispute Resolution Scheme (FDRS) which requires financial institutions who are its members to resolve monetary disputes with their customers through mediation and arbitration.
To provide independent and impartial “Mediation First, Arbitration Next” processes of dispute resolution to facilitate the resolution of monetary disputes between individual customers and financial institutions in Hong Kong.
To be the leading provider of financial dispute resolution processes to deal with differences between financial institutions and their customers constructively before they escalate and to support Hong Kong as an international financial centre by extending our services and engaging stakeholders of the financial industry.
Independence: To set up and operate an independent dispute resolution scheme for financial institutions and their customers without external interference;
Impartiality: To maintain an FDRC process so that both the financial institutions and their customers are treated in an impartial way;
Accessibility: To make FDRC accessible and user friendly by establishing dispute resolution processes which are straight forward, clear and easy to understand;
Efficiency: To ensure that financial disputes are settled in a timely and efficient manner; and
Transparency: To be as transparent as possible in dealing with financial disputes, whilst also acting in accordance with confidentiality and privacy obligations under the laws of Hong Kong.
FDRC’s criteria for accepting and rejecting applications is set out more fully in the FDRS Guidelines on Intake Criteria of Cases.
an individual or a sole-proprietor having or had a customer relationship with a member of the FDRS or had been provided with a financial service by the member.