Dispute Resolution Process
1. File a Complaint to Blockchain Association
Within 45 days from the time of the incident client can file a complaint to Blockchain Association. However, client must try to resolve his complaint with the Member first.
Member has 5 days to acknowledge the client complaint was received and 14 days to answer the complaint through the Member’s Internal Dispute Resolution (IDR) procedure.
Client can file a complaint to Blockchain Association only if he is not satisfied with Member’s decision or decision wasn’t made within 14 days.
2. Investigation Phase
The Blockchain Expert Committee (BEC) will investigate the grounds of the complaint and verify its validity within 5 business days.
Head of BEC will contact the client and the Member within 5 business days to obtain all necessary information and see if there is a chance to settle the complaint during investigation phase.
If no settlement opportunity during the Investigation phase, complaint will go to the Determination Phase and the BEC.
3. Determination Phase
Based on the documents and information that was collected during Determination Phase, the BEC will make a decision on the complaint.
If additional information is needed, BEC will request such information from the client or Member. Requested party must answer within 7 days.
4. Awards and Orders
BEC decisions are binding on Member firms. BEC decisions are binding on clients only if they accept them.
If complainant agrees with BEC’s decision, he’ll need to accept it within 14 days. If the Client does not respond to the BEC’s decision within 14 days the complaint is considered closed
Member must award the settlement within 28 days of when the decision was reached.
If the decision was in favor of the Member, the client must provide a release for the member within 7 days of when the decision was made and the complaint is considered closed