Download Free Private Dispute Resolution In The Banking Industry Book in PDF and EPUB Free Download. You can read online Private Dispute Resolution In The Banking Industry and write the review.

This monograph examines the use of private alternative dispute resolution (private ADR) by firms in the banking industry in response to a perceived liability crisis in the 1980's. The firms tested a procedure with which they were familiar, contractual arbitration provisions, initially in those contracts which were the source of the greatest liability concern and the most litigation cost. The firms stated that they were most interested in reducing the likelihood of punitive damages and eliminating the unpredictability of juries. Interviews indicate satisfaction with the private ADR program. Data collected from one firm show that the number of new cases filed against that firm in those areas, and the expected liability from these cases, declined after the introduction of the provisions. However, the actual funds paid for verdicts and settlements in these areas increased. Despite these conflicting results, the future for private ADR appears to be bright in this industry.
This book examines the concept of ‘naming, blaming, claiming’ in the application of arbitration for private banking dispute resolution. The author focuses on examining this issue using Hong Kong as a case in point, blending theory and empirical evidence to unveil how disputes are resolved within the banking and finance industry, which will enable them to explore possible effective and efficient mechanisms to resolve financial disputes. The book offers a comprehensive review of the laws and regulations governing the private banking industry in Hong Kong and selected jurisdictions, as well as how they are implemented. It examines the clients’ perceptions through an innovative methodology for empirical studies. Describing how clients react to the laws and regulations and the potential adverse impacts to the stability of the banking industry, the author identifies possible factors that could trigger another financial crisis. Synthesising his analysis, the author proposes newly discovered self-corrective mechanisms embedded among clients and concludes with policy recommendations. Directly relevant to banking practitioners, particularly legal and compliance departments, and senior management, the book is also written for legal professionals interested in the practices of dispute resolution in banking and finance. Additional readerships will include bank regulators, government officials, policy makers, researchers, and those involved in courses in banking and financial law, as well as Arbitration and Dispute Resolution.
This monograph examines the use of private alternative dispute resolution (private ADR) by firms in the banking industry in response to a perceived liability crisis in the 1980's. The firms tested a procedure with which they were familiar, contractual arbitration provisions, initially in those contracts which were the source of the greatest liability concern and the most litigation cost. The firms stated that they were most interested in reducing the likelihood of punitive damages and eliminating the unpredictability of juries. Interviews indicate satisfaction with the private ADR program. Data collected from one firm show that the number of new cases filed against that firm in those areas, and the expected liability from these cases, declined after the introduction of the provisions. However, the actual funds paid for verdicts and settlements in these areas increased. Despite these conflicting results, the future for private ADR appears to be bright in this industry.
Alternative dispute resolution techniques (ADR), including arbitration, have served as an essential release valve for the country's overburdened civil justice system.The European Union has given momentum to ADR in disputes involving the banking and financial sector. In Italy, the Arbitro Bancario e Finanziario has recently been established to settle disputes between intermediaries and their customers. It has provided a cheaper, faster, more effective forum for a variety of disputes.The paper begins with an outline of the goals of this alternative dispute resolution techniques that improving consumer access to remedies, thereby increasing consumer satisfaction and confidence in engaging in transactions in the financial market.In our empirical analysis we will refer to the statistics on Italian bank dispute in retail bank service, publicity available at Bank of Italy website in order to evaluate how the banks fail to deliver minimum standards of service and product quality and to assess the influence of reputational risk on banks' behaviour.
In the last decade in Australia private dispute resolution schemes have come to play an increasingly central role in resolving consumer disputes with private industry. Indeed, the increase in consumer use of private dispute resolution schemes since 1990 has been described as "exponential" (Ben Slade & Christian Mikula, "How to use industry based consumer dispute resolution schemes...and why", NSW Law Society Journal, February 1998, at 58). For example, in 1997 alone it was estimated that more than 130 000 consumers relied upon these schemes to resolve disputes, 4 years later in 2001 just two private dispute resolution schemes were responsible for resolving that same number of complaints (the Australian Banking Industry Ombudsman and the Telecommunications Industry Ombudsman as per their Annual Reports). There is no doubt that the exponential growth in consumer usage of such schemes will continue given the Federal and State government's commitment to privatizing dispute resolution, through "...providing alternatives to the Courts, and to providing faster, cheaper, and simpler access to justice" (Media release, Commonwealth Attorney General, 13 June 2001, 'Standards for Alternative Dispute Resolution Launched').
Shahla F. Ali presents comparative empirical research about the design of consumer financial dispute resolution mechanisms in Asia, America and Europe.
A History of Alternative Dispute Resolution offers a comprehensive review of the various types of peaceful practices for resolving conflicts. Written by Jerome Barrett—a longtime practitioner, innovator, and leading historian in the field of ADR—and his son Joseph Barrett, this volume traces the evolution of the ADR process and offers an overview of the precursors to ADR, including negotiation, arbitration, and mediation. The authors explore the colorful beginnings of ADR using illustrative examples from prehistoric Shaman through the European Law Merchant. In addition, the book offers the historical context for the use of ADR in the arenas of diplomacy and business.
Private Dispute Resolution in International Business consists of two books. Volume I follows the progress of a dispute between two companies, in step-by-step detail, through negotiation, mediation, and arbitration in turn. Volume II provides precise, in.