Step 1
Raise 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.
Finance (IFABL) Scheme
Independent Complaints Process for users of Invoice Finance and Asset Based Lending (IFABL).
Before making a complaint you should get in touch with UK Finance who will register your complaint. You can contact them on 020 3934 1456 or via email at ifablstandards@ukfinance.org.uk
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About the UK Finance Scheme - 'IFABL'
Independent adjudication for invoice finance and asset-based lending disputes
If you have a complaint about a UK Finance member providing invoice finance (factoring or invoice discounting) or asset-based lending that they haven't resolved to your satisfaction, we can independently adjudicate on alleged breaches of the Code and Guidance.
If the company is unable to resolve the complaint for you, you must contact UK Finance in the first instance to let it know you have a complaint about one of its invoice finance and asset-based lending members. You can contact them on 020 3934 1456 or via email at ifablstandards@ukfinance.org.uk.
The UK Finance team will log the complaint and obtain information from you and the company before passing this on to CEDR to adjudicate on the matter.
Our Approach
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.
Rules
Download the IFABL Scheme Rules here.
IFABL Officials
- Johanna Higgins
- Peter Sansom
- Claire Andrews
- Laurence Cobb
Is you complaint eligible?
Check all requirements before starting
Your complaint must...
Scope
Relate to a factoring, invoice discounting and/or asset-based lending facility or a proposed facility through an existing IFABL Member of UK Finance
When it happened
Involve actions on or after 1 July 2013
Amount claimed
Seek £50,000 or less (£28,000 or less for actions before 1 Jan 2021). 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.
Time limits
Be raised with the member within 12 months of the issue AND registered with UK Finance within 6 months of their final response
Your complaint must...
Scope
Relate to a factoring, invoice discounting and/or asset-based lending facility or a proposed facility through an existing IFABL Member of UK Finance
When it happened
Involve actions on or after 1 July 2013
Amount claimed
Seek £50,000 or less (£28,000 or less for actions before 1 Jan 2021). 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.
Time limits
Be raised with the member within 12 months of the issue AND registered with UK Finance within 6 months of their final response
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).
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).
Steps
1
2
Step 2
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 Finance on 020 3934 1456 or via email at ifablstandards@ukfinance.org.uk.
3
Step 3
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.
Ready to register your complaint? Email UK Finance at the button below.