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CODE OF BANKING PRACTICE - February 12, 2001

Preambles Objectives, Principles, Review and Staff Training
Part A Disclosures.
Part B Principles of Conduct.
Part C Resolution of Disputes.
PART C: RESOLUTION OF DISPUTES

18.0 DISPUTE RESOLUTION

18.1 A Bank shall have an internal process for handling a dispute between the Bank and a Customer and this process will be readily accessible by Customers without charge upon them by the Bank. A dispute arises where a Customer has a complaint and completes the Bank's formal complaint form and delivers it to the Bank. A Bank shall agree, if the Customer wishes to submit to the jurisdiction of the Banking Ombudsman provided the Bank's internal process has been exhausted.

18.2 Where a request for resolution of the dispute is made, the Bank shall inform the Customer in writing of the outcome within a maximum of two months from the receipt of the complaint form. If the dispute is not resolved in a manner acceptable to the Customer, the reasons for the outcome shall be given.

18.3 The process shall apply the law and this Code and also may take into account what is fair to both Customer and the Bank.

Part A - Disclosures. This part describes the information which a Bank will provide to a Customer in respect of the Banking Services which the Bank offers to the Customer.

Part B - Principles of Conduct. This part describes certain principles of conduct which a Bank will follow in dealing with its Customers.

Part C - Resolution of Disputes. This part requires Banks to have dispute handling procedures.