Independent Complaints Process for users of Invoice Finance and Asset Based Lending (IFABL).
CEDR will consider complaints relating to alleged breaches of the Code and Guidance in handling complaints, carrying out adjudications and reaching final decisions. CEDR will proceed fairly in all cases and in accordance with principles of natural justice.
CEDR will consider what is fair and reasonable in the circumstances, having regard to principles of statute and common law (judge-made decisions), good industry practice, equitable conduct, contractual obligations and good administration. Each case will be decided on a case by case basis and decided on the facts presented by each party.
The objective of UK Finance and CEDR is to ensure that the independent Complaints Process is as accessible to as many businesses as possible.
A complaint will be eligible for this process if:
Customer raises a complaint with IFABL member in the first instance. They will attempt to resolve the matter and if not issue you with a final response/ deadlock letter.
If the matter remains unresolved, you must contact UK Finance in the first instance to let them know you have a complaint about one of its invoice finance and asset-based lending members. The UK Finance team will log the complaint and obtain information from you and the company. You can contact UK on 020 3934 1456 or via email at [email protected].
UK Finance will refer the matter to CEDR for independent adjudication. CEDR will assign the case to an Independent Adjudicator who will issue a final decision within 90 days of receipt of the complete case file from UK Finance. The Independent Adjudicator may request for additional information during this time. However, once a final decision is issued, the matter is closed with no appeals.