Today is 4.2.2012
Questionnaire
Did your bank change the charges in further reference to acceptance of the new Payment system act?
Correct answer for the previous questionnaire
137 participants took part in the public survey. It is dificult to repay a consumer credit for 68 participants, it is not dificult for 36 participants and 33 participants have not a consumer credit.
137 participants took part in the public survey. It is dificult to repay a consumer credit for 68 participants, it is not dificult for 36 participants and 33 participants have not a consumer credit.
Role and Tasks
A key role of the Financial Arbitrator is to provide for accelerated, free of charge and efficient extrajudicial resolution of client to institution disputes.
- That is to say that the Financial Arbitrator has jurisdiction to decide on disputes between institutions (such as banks, institutions issuing electronic payment instruments, consumer credit providers and brokers, investment etc.) and their clients regarding transfers of funds, settlement adjustments, collection forms of payment, use of electronic payment instruments provision of credit, collective investment products.
- The Financial Arbitrator institute was established as of 1 January 2003, as part of harmonisation of the Czech national law with the EU Member States (see Act No. 229/2002 Coll., on Financial Arbitrator). The Financial Arbitrator and Deputy Financial Arbitrator are appointed by the Government on a proposal form the Minister of Finance for the 5-year term of office, from among the individuals who satisfy the requirements laid down by the above act.
- The Financial Arbitrator shall perform her/his office in an independent and disinterested manner. S/he is required to abstain from anything that may raise any doubt to challenge her/his bias. The Financial Arbitrator is accountable to the Government for her/his service.
- Proceedings before the Financial Arbitrator are instituted upon request by the claimant. Such request (petition) may be lodged using the form issued by the Financial Arbitrator. A template petition form is posted on the web pages. The Financial Arbitrator shall decide on a dispute by issuing his award without undue delay, In an award, granting, albeit partly, the request by the claimant party, the arbitrator shall at the same time impose a penalty on the institution, equal to 10% of the amount such institution is liable to pay to the claimant under the award, the minimum penalty being CZK 15000.
- A key benefit for clients is accelerated decision making, proceedings free of charge and in-depth knowledge of the area.
