Alternative Dispute Resolution (ADR) Handbook

Currently, a typical court case can take three (3) years or even more before it is concluded at a hefty cost to the litigants. In many instances, such cases could have been amicably resolved within a week through alternative dispute resolution mechanisms, such as mediation. This principle formed the basis of the Credit Information Sharing - Alternative Dispute Resolution (CIS-ADR) Centre. The ADR approach will provide a valuable option for both customers and financial institutions, creating a conducive environment for issues to be addressed while upholding the relationship between the parties. 

The ADR handbook has been  drawn to introduce uniformity in CIS dispute resolution practices; ensuring that established market guidelines and provisions within the Customer Protection Act are adhered to. The ADR Processes established under this handbook will focus on 

  • Intervention
  • Facilitation
  • Mediation

Click here to read more on CIS-ADR Mechanism.

Tags: