Last updated 4 February 2020
1. Australian Standard
Investor Claim Partner Pty Ltd, ICP Capital Pty Ltd and ICP Funding Pty Ltd (together, the “ICP Group”) will follow the general principles set out by the Commonwealth Ombudsman in relation to Complaints Handling. A copy of the Better Practice Guide to Complaint Handling can be found at: Better Practice Guide to Complaint Handling (Commonwealth Ombudsman).
Where specific complaints resolution procedures are put in place for an individual class action claim, those procedures will apply. In all other circumstances, the procedure set out below will apply.
3.1 Complaints may be written or oral. If they are written, then the writing will be retained. If oral, then a statement of the oral complaint will be prepared as soon as the complaint is received.
3.2 A statement must then be prepared by the person receiving the complaint. The statement must detail:
(a) the person making the complaint;
(b) details of the complaint itself;
(c) facts relevant to the validity or otherwise of the complaint; and
(d) how the employee intends to handle the complaint.
3.3 A copy of the statement and any written complaint must then be delivered to the Complaints Officer and CEO within 5 business days of receipt of the complaint.
3.4 The employee receiving the complaint should, in the first place, then attempt to deal with the subject of the complaint, remembering the following basic principles:
(a) the right of the person to make a complaint;
(b) the fact that the reputation of the ICP Group in part depends upon how the complaint will be handled; and
(c) the requirement to be as fair as possible to the complainant (while at the same time, of course, remembering that there is an obligation to protect the interests of the ICP Group.
3.5 If the employee deals with the complaint to the satisfaction of the complainant then the employee will provide a report to the Complaints Officer and CEO in relation to how the complaint has been handled and the result.
3.6 The complaint must be handled and reported upon within 10 business days at the expiration of which time, if the matter has not been resolved, the Complaints Officer is to take over responsibility for the resolution of the complaint on behalf of the ICP Group.
3.7 During the course of handling the complaint the employee must provide the material to the complainant with the name and contact details of the Complaints Officer and an invitation to contact him or her directly.
3.8 If, after 5 business days have elapsed from the receipt by the Complaints Officer of the initial statement from the employee, no resolution report has been received, then the Complaints Officer will liaise with the employee in order to work towards resolution of the complaint.
3.9 If the Complaints Officer becomes involved in the resolution of the complaint then a report on that resolution will be provided to the CEO by the Complaints Officer once the complaint has been resolved. That report should detail the steps taken by the Complaints Officer and the outcome of the complaint procedure.
3.10 If no resolution report has been achieved by the Complaints Officer within 15 business days of the Complaints Officer becoming responsible for resolution of the complaint, then the matter will be referred to the CEO.
3.11 The CEO upon receipt of a report will liaise with the Complaints Officer and the employee to determine the procedure to deal with the complaint. That procedure may include a meeting between the complainant and the employee, the Complaints Officer and the CEO to discuss the complaint.
3.12 If the complaint is resolved by the employee, the Complaints Officer or the CEO then a written statement as to the outcome of the complaint will be provided to the complainant. That statement will include any reasons for decision by the employee, the Complaints Officer or the CEO.
3.13 If the complaint is directed towards the employee who initially receives the complaint and/or the Complaints Officer and/or the CEO, these procedures will be modified so that the person/s the complaint is directed towards are not responsible for the resolution process. In this situation, an ICP Funding Pty Ltd or ICP Capital Pty Ltd Board member who is not the CEO may become involved in the resolution process.
4. Provision of Copy of Complaints Resolution Procedures
4.1 A copy of this complaints resolution procedure will be posted on ICP’s website (www.icp.net.au) and will be kept up to date.
4.2 The complaints resolution procedure is to be without charge to any complainant. Where costs are incurred (such as time and travelling costs) then they will be written off to general overheads. ICP will keep a separate accounting for any out of pocket expenses in relation to complaints so that an assessment can be made from time to time as to the cost of the procedure.
5.1 All remedies short of termination of the ICP Agreement and any monetary payment are available to the employee handling the complaint.
5.2 Remedies involving a termination of the ICP Agreement or any monetary payment will be a matter for discussion and decision between the Complaints Officer and the CEO.
6. External Dispute Resolution
6.1 ICP is a member of the Australian Financial Complaints Authority (“AFCA”) which is a specialist in dispute resolution. AFCA provides fair and independent financial services complaint resolution that is free to consumers.
6.2 ICP’s membership of AFCA will be referred to on ICP’s website.
6.3 If an issue is not resolved directly with ICP to the satisfaction of the complainant, they can lodge a complaint with AFCA:
6.4 If a complaint cannot be resolved between ICP and the complainant, the complainant must be advised in writing of the existence and workings of this external dispute resolution mechanism.
7. Record Keeping and Statistics
7.1 The Complaints Officer will set up and maintain a complaints file upon which will be included:
(a) the employee statements under clause 3.2;
(b) the resolution reports under clauses 3.5 and 3.9; and
(c) a copy of any written statement as to the outcome of the complaint provided to the complainant under clause 3.12.
7.2 The Complaints Officer will extract on a six-monthly basis a report to the CEO in relation to:
(a) complaints made during the period;
(b) resolution of such complaints;
(c) an assessment of the type of complaints being made; and
(d) any recommendations in relation to the business of ICP as a result of the complaints or the types of complaints being made.