What does the IBSA Complaints Resolution Process require of a GOLDEN SEAL participant business?
The GOLDEN SEAL’s strength as a standard depends heavily on our ability to enforce it. To ensure that appropriate business standards are maintained, in case a complaint against a GOLDEN SEAL participant business is not otherwise resolved, The IBSA Complaints Resolution Process requires that the business submit to a process of third party dispute arbitration if so desired by the complaining party. The arbitration is not a formal legal proceeding and does not necessarily involve any court or lawyer. However, GOLDEN SEAL participant businesses are required to consider any third party arbitration during the Complaints Resolution Process as binding. A list of possible arbitrators or arbitrating firms will be available to all involved parties before the process is initiated.
Related Questions
- Does a SFE Participant require written authorisation from its clients allowing it to conduct off-market business on each clients behalf prior to entering into a Block Trade or EFP?
- What does the IBSA Complaints Resolution Process require of a GOLDEN SEAL participant business?
- What advantages does IBSA membership offer besides participation in the GOLDEN SEAL program?
