Views:

FIDReC’s Prevailing Refund Rules for claims
falling within the FIDReC-NIMA Scheme
 

  1. References to an Adjudicator in these Rules shall include, where applicable, a Panel of Adjudicators
     
  2. The Mediator’s Indication shall only be made known to the Adjudicator after the Adjudicator has made a determination of the Dispute.
     
  3. If the Adjudicator awards to the Eligible Complainant a sum greater than the Mediator’s Indication, the Eligible Complainant may be given a refund of part of his case fee in the sum of S$200.
     
  4. If the Adjudicator does not award any sum to the Eligible Complainant, or awards to the Eligible Complainant a sum lower than the Mediator’s Indication, the FI may be given a refund of part of its case fee in the sum of S$200.
     
  5. If the Adjudicator awards to the Eligible Complainant a sum equal to the Mediator’s Indication, the party who had previously accepted the Indication may be given a refund of part of his/its case fee in the sum of S$200. Where no party had accepted the Mediator’s Indication, no refund of the case fee shall be made
     
  6. In determining whether any refund will be made and if so, to which party, the Adjudicator will also take into account the conduct of the parties and the parties’ compliance with FIDReC’s processes and procedures.
     
  7. The decision of the Adjudicator as to whether any refund will be made and if so, to which party, is final and binding on both the Eligible Complainant and the FI.