TERMS OF USE (DISPUTE RESOLUTION SERVICES)
All Complainants (i.e. you) must accept and be bound by these terms.
(1) As the Eligible Complainant, you bear the sole responsibility of seeking independent legal advice on your claim/ complaint/ dispute, including as to any applicable limitation periods and/ or statutory time-bar. The Financial Industry Disputes Resolution Centre Ltd (‘FIDReC’) will not be held liable if such claim/ complaint/ dispute becomes time-barred or if any limitation period expires, after it has been accepted by FIDReC.
(2) FIDReC and / or any of its employees, officers or representatives, do not at any time whatsoever (and in any capacity howsoever) give, offer or render legal advice or other advice, or express any opinion (whether professional or personal) on any matter whatsoever.
(3) Subject to applicable law, under no circumstances will FIDReC (or any of its employees, officers and / or representatives) be liable to you for any act or omission in connection with the services provided by FIDReC (or its employees, officers and / or representatives).
(4) Before agreeing to or accepting any settlement of your claim/ complaint/ dispute, you may engage or obtain such professional and / or legal advice as you deem appropriate. In the event that you do seek professional and / or legal assistance, it will be entirely at your own costs.
(5) You shall not make any claim whatsoever against FIDReC or any of its officers, employees, representatives and/or Adjudicators, including but not limited to any claim for any matter in connection with or in relation to:
- any and all services provided by FIDReC (or its officers, employees and representatives) and / or any investigation conducted by FIDReC; and / or
- any process, mediation, adjudication and/or investigation conducted by FIDReC; and/or
- the claim/ complaint/ dispute lodged by you; and / or
- the dispute between you and the bank / insurance company / other financial institution; and / or
- any settlement entered into between you and the bank / insurance company / other financial institution.
(6) Any claim / complaint made in contravention of Clauses (2) and (3) above and / or any breach and / or contravention of Clause (5) above shall constitute a loss which cannot be reasonably or adequately compensated in damages. In the event of any such claim and / or breach and / or contravention, FIDReC (or its officers, employees and / or representatives) shall be entitled to the remedy of injunction (in addition to any other remedy available at law or in equity). FIDReC (or its officers, employees and / or representatives) shall also be entitled to recovery of legal costs (on a full indemnity basis) from you.
(7) Confidentiality is a crucial cornerstone of FIDReC’s work and processes. You must keep all information, documents, correspondence (including e-mails), issues / matters discussed, proposals and counterproposals, adjudication awards etc wholly and strictly confidential; and you must not disclose / divulge the same (whether expressly or impliedly) to any third party.
(8) Your obligation of confidentiality is not affected and shall continue with full force and effect after the conclusion of FIDReC’s mediation and / or adjudication processes.
(9) In the event of any breach of the obligation of confidentiality on your part, FIDReC reserves the right, at its full discretion, to discontinue the mediation / adjudication process with immediate effect, and / or to institute legal action (including but not limited to applying for an injunction and / or seeking damages).
(10) You shall provide your consent and authorise the relevant bank / insurance company / other financial institution in your claim/ complaint/ dispute to disclose to FIDReC and its officers, employees and / or representatives and / or the Adjudicators all and any information, including all documents, whether electronically maintained or otherwise, as are or may be relevant to the claim/ complaint/ dispute, but which may be subject to confidentiality or secrecy under law and / or contract. Such consent and disclosure shall discharge the bank / insurance company / other financial institution of its secrecy and confidentiality obligations under any law and / or contract with you provided always that the bank / insurance company / other financial institution shall use such information for the purpose of the mediation or adjudication.
(11) You are fully bound by the terms and conditions of FIDReC’s prevailing Terms of Reference where such terms and conditions are applicable to you, the Eligible Complainant and the processes of FIDReC as applicable from time to time. The interpretation accorded to the said Terms of Reference and the said processes by FIDReC shall be final and conclusive, and you must not dispute the same.* FIDReC also reserves the right to change, update or amend these Terms of Use at any time at its sole discretion.
(12) FIDReC reserves the right to reject any complaint for non-compliance with the prevailing submission procedure or without assigning any reason thereof.
(13) FIDReC will collect, use and disclose your personal data for the purpose of following up on this complaint and will do anything necessary relating to or in connection with the handling, investigation, mediation and/or adjudication of the complaint/ financial dispute referred, and otherwise in accordance with FIDReC’s Personal Data Policy.
(14) You are solely responsible to verify and ensure that all information provided to FIDReC (including but not limited to your correspondence address, email address, telephone numbers etc) are correct and accurate, and will immediately inform FIDReC if there are any changes.
* Where the claim made is a claim against a General Insurer, you are also fully bound by the directions in the FIDReC-NIMA Protocol, where applicable. The interpretation accorded to the said FIDReC-NIMA Protocol by FIDReC shall be final and conclusive, and you must not dispute the same.
OBLIGATION OF CONFIDENTIALITY (DISPUTE RESOLUTION SERVICES)
All Complainants (i.e. you) must accept and be bound by these terms.
(1) The obligation of confidentiality is a crucial and sacred cornerstone of FIDReC’s work and processes. This obligation is shared by both you, as the Complainant, as well as the bank / insurance company / other financial institution, and, for the avoidance of doubt, any breach of the obligation of confidentiality by you is enforceable by FIDReC and the bank / insurance company / other financial institution. This obligation must be strictly upheld at all times, so as to ensure a conducive and / or viable environment for the amicable and fair resolution of disputes / complaints. This would be to the benefit of both consumers and the bank / insurance company / other financial institution.
(2) FIDReC takes a very serious view of any breach of confidentiality by either party, and will act without delay to vigorously enforce this obligation.
(3) Except as shall be required under written law or rule of law, an order of court, or as necessary to implement and enforce any settlement agreement or adjudication award, you shall keep wholly and strictly confidential and not use for any collateral or ulterior purpose in any other proceeding, and shall not disclose / divulge the same (whether expressly or impliedly) to any third party:
- the fact that mediation / adjudication is to take place, is in progress or has taken place;
- what transpired during the mediation and / or adjudication;
- any views expressed, or suggestions or proposals for settlement made by any party in the course of mediation and/or adjudication;
- proposals suggested or views expressed by the Mediator or Adjudicator;
- where you do not accept the ruling / finding of the Adjudicator or Panel, the fact that the Adjudicator or Panel has made the ruling / finding, and / or the substance and / or terms of the ruling/finding, and / or that you did not accept the ruling / finding;
- all materials and information (whether oral or in writing) produced for or arising in relation to the mediation and / or adjudication, including but not limited to any settlement agreement (and the substance and / or terms thereof), except as directly necessary to implement and enforce any such settlement agreement; and
- all information, documents (including written submissions, replies or clarifications if any), correspondence (including e-mails), issues / matters discussed, proposals and counterproposals, adjudication awards etc.
(4) You shall bear the responsibility of ensuring that the address(es), e-mail address(es), telephone number(s) and other contact details (if any) stated in the Dispute Resolution Form are kept private and secure.
(5) Your obligation of confidentiality is not affected, and shall continue with full force and effect after the conclusion of FIDReC’s mediation and / or adjudication processes.
(6) In the event of any breach of the obligation of confidentiality on your part, FIDReC reserves the right, at its full discretion, to discontinue the mediation / adjudication process with immediate effect, and / or to institute legal action (including but not limited to applying for an injunction and / or seeking damages).
(7) Any breach of your obligation of confidentiality shall constitute a loss which cannot be reasonably or adequately compensated in damages. In the event of any such claim and / or breach and / or contravention, FIDReC (or its officers, employees and / or representatives) and/ or the bank/ insurance company/ other financial institution shall be entitled to the remedy of injunction (in addition to any other remedy available at law or in equity). FIDReC (or its officers, employees and / or representatives) and/ or the bank/ insurance company/ other financial institution shall also be entitled to recovery of legal costs (on a full indemnity basis) from you.
(8) FIDReC also reserves the right to change, update or amend these Terms of Use at any time at its sole discretion.