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Home > Resolving Disputes > Application

Application

Prerequisite of filing an Application

An Eligible Claimant must have filed a written complaint concerning the disputes with the relevant financial institution and either:

  • has received a final written reply from the relevant financial institution; or
  • has received no final written reply after 60 days from the date of the written complaint

before he/she can file an application with the FDRC.

For details, please refer to the meaning of Eligible Dispute.

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Procedures

  1. Initial Enquiries

    Call FDRC hotline 3199-5199 for enquiries and make an appointment with our Case Officer to attend our briefing session.

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  2. Filing an Application

    Please fill in an FDRS Application Form and submit it in person at our Centre together with supporting documents and application fees. Supporting documents include:-

    • contracts;
    • transaction statements;
    • receipts;
    • proof of accounts;
    • business cards of the financial institution /representatives of the financial institution; and
    • any documents relating to the dispute.

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  3. Acceptance of Application

    After receiving your application and the application fee, our Case Officers will assess your case to see whether it is under the purview of the FDRS in accordance with the FDRS Guidelines on  Intake Criteria of Cases in the Terms of Reference.

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  4. Mediation

    If the application is accepted, both the Eligible Claimant and the financial institution will be informed and the Mediation process will begin. Both Parties are required to pay the mediation fees as per the Fees.

    If the amount of claims involved –

    1. is within the prescribed level of HK$100,000, the FDRC shall normally assign the case to an in-house Mediator; or
    2. is between HK$100,000 and HK$500,000, you and the financial institution may agree on the appointment of the Mediator from the List of Mediators.  If both Parties fail to agree on the appointment of the Mediator, the FDRC will appoint the Mediator. The FDRC shall appoint a Mediator from the List of Mediators as soon as practicable, taking into account both Parties’ preference so far as practicable.

    The appointment of the Mediator takes effect upon confirmation in writing by the FDRC. The Mediator shall commence and conduct the Mediation as soon as possible within 21 days of his appointment and ensure that an Agreement to Mediate is signed prior to the substantive mediation session.

    Mediation under FDRS shall not exceed the Specified Mediation Time which is the 4 hours allocated for Mediation under the Terms of Reference.

    If the Parties reach a settlement during Mediation, a Mediated Settlement Agreement will be signed in accordance with the terms both Parties have agreed.

    If no settlement is reached during the Specified Mediation Time, an extended mediation session may be arranged.

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  5. Arbitration

    If the Mediation is not successful, the Eligible Claimant may decide to proceed to Arbitration by serving a Notice to Arbitrate within 60 days from the date of the Mediation Certificate issued by the Mediator upon conclusion of the Mediation. Both Parties will have to pay the arbitration fees as per the Fees.

    The relevant financial institution will be invited to serve its response within 21 days of the service of the Notice to Arbitrate .

    After the receipt of the final submissions from the Eligible Claimant and the financial institution, the FDRC will then proceed with the appointment of the Arbitrator. Both Parties may agree on the appointment of the Arbitrator from the List of Arbitrators. If the Parties fail to agree on the appointment of the Arbitrator, the FDRC will appoint the Arbitrator from the List of Arbitrators as soon as practicable, taking into account the Parties’ preference so far as practicable and shall confirm in writing to the Parties the appointment of the Arbitrator.

    An Arbitral Award is to be rendered within 1 month after receipt of the last document by the Arbitrator. It is final and binding and can only be appealed on point of law.

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