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.

Complaints

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:

• The complaint relates to a factoring, invoice discounting and/or asset-based lending facility or a proposed facility through an existing IFABL Member of UK Finance; and
• The action or actions relating to the complaint took place on or after 1 July 2013; and
• The Complainant is not seeking a financial award of greater than £50,000 in relation to the dispute. This is the current maximum figure that CEDR currently has authority to award and CEDR cannot consider cases where the amount sought is clearly in excess of this amount. Please note that this amount is £28,000 for action or actions relating to a complaint that take place before 1 January 2021.
• It will not normally be possible for a complaint to be accepted if:
• The Complainant gave the IFABL Member notice of the matter which is subject to the complaint more than 12 months before contacting UK Finance or CEDR; or
• The complaint is made to UK Finance more than six months after the Member advised the client that it is unable or unwilling to resolve the complaint to the complainant’s satisfaction (i.e. a Deadlock Letter or similar was received more than six months’ prior).