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1 Goal
Goal of the Procedure is to establish and follow the process of HIRETT Customers’ claims examination.
2 General regulations
1. HIRETT ensures examination of a Customer’s Claim according to Compliance laws, regulations and standards regulating HIRETT business sector.
2. This Procedure shall be regularly examined in order to ensure its topicality and compliance to the Compliance laws, regulations and standards. Amendments to this Procedure shall be are approved by the HIRETT executive board.
3. When performing obligations under the Procedure, the HIRETT employee shall observe not only the internal normative documents of the HIRETT but also the Compliance laws, regulations and standards, particularly Law on Payment Service and Electronic Money.
4. When fulfilling obligations under the Procedure, the HIRETT employees shall perform their obligations in such a way that does not violate the internal normative documents and the Compliance laws, regulations and standards.
5. The HIRETT board shall appoint the Designated employee.
6. The Designated employee is responsible for fulfilment of the requirements set in this Procedure.
7. Procedure of complaint examination:
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- All Customers’ claims must be handled according to this Procedure.
- The Customer shall submit the Claim to the HIRETT in writing. If the HIRETT receives a written Claim from the Customer, it examines it and provides the motivated reply according to the below mentioned requirements:
i. The reply to the received Claim must be sent to the Customer not later than within 30 days from the day on which HIRETT received the Claim. The said term may be extended if Compliance laws, regulations and standards so allow;
ii. Any Claim, dispute, disagreement or claim deriving from the contractual relationship between the Customer and the HIRETT, shall be finally settled by a mutual agreement in writing.
3 Procedure of claim examination
1. The Administration registers the Claim on the day, when it is received in the HIRETT.
2. The Designated employee:
2.1. Ensures that the Claim is settled in writing;
2.2. Ensures due preparation and submission of the replies (not later than within two working days until the end of term for reply submission) to the HIRETT executive board member for signing;2.3. Ensures that the replies to the Claims are provided within the term mentioned in Clause 7 of Section 2 of the Procedure;
2.4. Examines the Claims and prepares the reply together with the other employees of the HIRETT structural unit (employees) that may give explanations regarding the facts (violations) indicated in the Claim;
2.5. Establishes and maintains a separate register, where the information on the measures taken regarding the Claims is registered;
2.5. The reply signed by the HIRETT executive board member shall be passed to Administration not later than on the day of reception.
2.6. All replies to the Claims shall be signed by the HIRETT executive board member.
2.7. The Administration sends the HIRETT replies to the customer not later than on the next day after it has received and registered the replies. Such replies in any case must be sent within the term mentioned in Clause 7 of Section 2;
2.8. The Designated employee ensures that the information determined below of the Procedure is available in summarized way in the HIRETT and on home page of the HIRETT (when it is established) in internet.
4 Regulatory requirements on customer complaint handling
Besides the adequate incorporation of the complaint handling with the HIRETT’s policies and customer dealing, HIRETT ensures following specific parts of the FCA handbook adapted to its company structure and policies.
For the purpose of inclusion in the public record maintained by the FCA, HIRETT must:
- provide the FCA, at the time of its authorisation, with details of a single contact point within the firm for complainants; and
- notify the FCA of any subsequent change in those details when convenient and, at the latest, in the firm’s next report under the complaints reporting rules.
HIRETT will freely and openly communicate the possibility of the Financial Ombudsman with all customer care correspondents and on its customer support web-site. It will obey to the procedures laid out which comes out of the FCA’s and the Ombudsman’s findings of collected complaints of the company.
As state in the FCA handbook:
These procedures should, taking into account the nature, scale and complexity of the respondent’s business, ensure that lessons learned as a result of determinations by the Ombudsman are effectively applied in future complaint handling, for example by:
- relaying a determination by the Ombudsman to the individuals in the respondent who handled the complaint and using it in their training and development;
- analysing any patterns in determinations by the Ombudsman concerning complaints received by the respondent and using this in training and development of the individuals dealing with complaints in the respondent; and
- analysing guidance produced by the FCA, other relevant regulators and the Financial Ombudsman Service and communicating it to the individuals dealing with complaints in the respondent.
An additional important part of the regulatory requirements is the record keeping of complaints.
5 Complaints reporting rules
1. Twice a year HIRETT must provide the FCA with a complete report concerning complaints received from eligible complainants.
2. If HIRETT has permission to carry on only credit-related regulated activities or operating an electronic system in relation to lending and has revenue arising from those activities that is less than or equal to £5,000,000 a year, the firm must provide the FCA with a complete report concerning complaints received from eligible complainants once a year.
3. The report must be set out in the format in DISP 1.
4. Complaints reporting rules do not apply to a firm with only a limited permission unless that firm is a not-for-profit debt advice body that at any point in the last 12 months has held £1 million or more in client money or as the case may be, projects that it will hold £1 million or more in client money in the next 12 months.
HIRETT will not be holding company funds of more than £1,000,000. at point in time for the next 12 months. Therefore, it will not fall under this rule of complaint reporting in the year of 2017.