Application

The requirements below are applicable for a Claim which may be accepted by the FDRC as a Standard Eligible Disputes under Terms of Reference (Jan 2018) and cases under Terms of Reference (Feb 2014).

Before 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 (852) 3199-5199 for enquiries and make an appointment with our Case Officer to attend our Free Public Enquiry Meeting.

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2. Filing an Application

   Please fill in an FDRS Application Form and submit it to 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

   The appointment of the Mediator takes effect upon confirmation in writing by the FDRC in accordance with the FDRS Mediation and Arbitration Rules. 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 session under FDRS shall not exceed the Specified Mediation Time which is the 4 hours allocated for substantive mediation session 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 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 submissions from the Claimant and the financial institution, the FDRC will then proceed with the appointment of the Arbitrator in accordance with the FDRS Mediation and Arbitration Rules 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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For Application submitted by FI and as Extended Eligible Disputes under Terms of Reference (Jan 2018), please refer to Terms of Reference (Jan 2018).