Internal Dispute Resolution Procedure

  • INTRODUCTION
    • National Pacific Finance Pty Ltd is committed to establishing and maintaining the highest standard of internal and external dispute resolution procedures for the Mortgage & Finance Industry. National Pacific Finance Pty Ltd and its credit representatives (who are Contractors) are Members of The Mortgage & Finance Association of Australia ("the MFAA") upon whose model this IDR is based on. All references to National Pacific Finance Pty Ltd include the Responsible Lending Manager, all credit representatives and employees under the National Pacific Finance division.
    • National Pacific Finance Pty Ltd is a Member of Credit and Investments Ombudsman ("CIO") which operates as an External Dispute Resolution Scheme for the Mortgage Industry in relation to complaints and disputes between Customers and Members of the MFAA. The rules governing the handling of complaints and disputes under CIO are dealt with in the Credit Ombudsman Service Limited Rules ("CIO Rules") which are promulgated by the Board of CIO. The Board of CIO comprises an equal number of Member Directors and Consumer Directors with an independent Chairman. The CIO Board has sole responsibility for the funding and oversight of CIO.
    • National Pacific Finance Pty Ltd Code of Practice and Dispute Resolution Rules establish appropriate Internal Dispute Resolution ("IDR") Procedures to ensure that Customers of MFAA Members feel no hesitation in making a complaint about a Member's provision of Mortgage Services to that Customer directly to the Member concerned. Additionally, the MFAA believes that it is essential that the Customer is able to identify and deal with an officer of the Member who has the ability, authority and training to properly hear the Customer's complaint and to give a substantive response to it.
    • The following IDR Procedures are promulgated by the MFAA Board in accordance with the MFAA's Constitution.
  • WHO HAS TO COMPLY WITH THE IDR PROCEDURES?
    • National Pacific Finance Pty Ltd to whom the National Pacific Finance Pty Ltd Code of Practice and CIO rules apply must comply with these IDR Procedures.
  • WHO CAN MAKE USE OF THESE IDR PROCEDURES?
    • Every Customer who is a "Retail Client" as defined in the Corporations Act 2001 may make use of these IDR Procedures and when such a Customer does so, the Member who is the subject of the complaint must comply with them.
    • A "Retail Client" is an individual or a small business. A "small business" is a business employing less than one hundred (100) people (if the business is or includes the manufacture of goods) or twenty (20) people in any other case. In some circumstances an individual is not a "Retail Client" for the purposes of these IDR Procedures because that person is not a "Retail Client" for the purposes of the Corporations Act 2001.
    • A Member must not charge any fee in respect of a Customer's complaint pursuant to these Rules.
  • COMMITMENT TO IDR PROCEDURES
    • In the following Procedures a reference to a "Member" is a reference to the Responsible Lending Manager of National Pacific Finance Pty Ltd who is bound to comply with the National Pacific Finance Pty Ltd Code of Practice and CIO Rules.
    • Every Member must appoint a Complaints Contact Person who must be:
      • A director or other officer or senior employee of a Member that is a corporation; or
      • The Member or a senior employee of the Member in any other case.
    • The Member must appoint as Complaints Contact Person a person who:
      • Has sufficient experience in relation to the business and products of the Member so as to adequately understand the Customer's complaint; and
      • Has written authority from the Member to make decisions about the Customer's complaint which are binding on the Member.
    • The Member must ensure that at all times there is one or more deputy Complaints Contact Person who meets the criteria for appointment of Complaints Contact Person as stated above and who is able to act in place of the Complaints Contact Person as may be required in particular circumstances.
  • AWARENESS OF IDR PROCEDURES
    • The Member must ensure that at all times all staff who deal with, or are likely to deal with a Complaints Contact Person and each deputy Complaints Contact Person.
    • Each Member must ensure that each staff Member who deals, or is likely to deal with, a Customer is given a written instruction:
      • About how to transfer a Customer who has a complaint to the Member's Complaints Contact Person or deputy Complaints Contact Person; and
      • What customer details to record if the Member's Complaints Contact Person or deputy Complaints Contact Person is for any reason unavailable (this information to include as a minimum the Customer's name, telephone number and description of the product or transaction to which the Customer's complaint relates.
  • METHOD OF MAKING COMPLAINT
    • A Customer's complaint may be presented to a Member by any reasonable means for example letter, telephone, in person or email. If presented via telephone or on person, the complaint is to be verified in writing.
  • INVESTIGATING THE CUSTOMER'S COMPLAINT
    • A Customer's complaint must not be investigated by the Complaints Contact Person or deputy Complaints Contact Person who is involved in the subject matter of the complaint.
    • The Complaints Contact Person or deputy Complaints Contact Person must have the Member's written authority to access any and all documents and records of information (including computer systems) as may be necessary to properly investigate the Customer's complaint.
  • TIMELINES
    • A Member must provide a written acknowledgement of receipt of a Customer's complaint promptly, unless the Customer's complaint is otherwise resolved in the meantime.
    • A Member must ensure that a substantive response is given to a Customer's complaint as soon as possible, but within forty-five (45) days after receipt of the Customer's complaint.
    • If the Member cannot respond to the Customer's complaint within forty-five (45) days, the Member must inform the Customer of the reasons for the delay and of the Customer's right to refer the complaint to CIO.
    • A Member will have substantially responded to a Customer's complaint if the Member:
      • Accepts the complaint and, if appropriate, offers redress; or
      • Offers redress without accepting the complaint; or
      • Rejects the complaint.
  • WRITTEN RESPONSE TO CUSTOMER
    • A Member must give a written response to a Customer's complaint and must give reasons for reaching a particular decision on the complaint that adequately address the issues that were raised in the Customer's complaint. Where practicable, a Member's response must refer to applicable provisions in legislation, Codes, Standards or Procedures.
  • REMEDIES
    • Where a Member accepts the Customer's complaint and is of the view that it is appropriate to offer redress to that Customer, that redress may be non-financial as well as, or instead of, financial. If the Member considers a financial remedy is appropriate then the Member should give to the Customer compensation for any direct loss or damage caused by the Member's breach of the MFAA Code of Practice.
    • The Member must when determining the appropriate remedy to be given to a Customer and the extent of loss or damage suffered by the Customer, consider relevant legal principles, the National Pacific Finance Pty Ltd Code of Practice and other relevant codes of conduct, concepts of fairness and relevant industry best practice.
  • PUBLICITY FOR IDR PROCEDURES
    • Every Member must in the Member's initial correspondence with a Customer identify the Member's Complaints Contact Person and deputy Complaints Contact Person and provide their direct telephone contact number.
    • A Member who maintains an internet web site must provide details on the web site of the name and contact telephone numbers of the Complaints Contact Person and deputy Complaints Contact Person.
  • PROVIDING ASSISTANCE TO CUSTOMERS
    • A Member must provide a written authority and instruction to the Member's Complaints Contact Person or deputy Complaints Contact Person to provide such assistance to a Customer as may be reasonable in the circumstances to enable that Customer to make a complaint.
  • DATA COLLECTION
    • A Member who is the subject of a Customer's complaint must keep such data concerning the Customer's complaint in such form and manner as the Member thinks fit which will enable analysis according to:
      • Type of complainant;
      • Subject of complaint;
      • Outcome of complaint;
      • Timeliness of response.
    • To enable a Member to identify any systematical recurring problems, the Member must so far as practicable and relevant, classify complaints according to the particular provision of the National Pacific Finance Pty Ltd Code of Practice alleged by the Customer to have been breached.
    • Subject to legal constraints including constraints as to defamation and privacy, a Member must make available data collected in respect of Customer complaints to the Australian Securities and Investments Commission.
  • REVIEW
    • Every Member should review its Internal Dispute Resolution Procedures every three (3) years to ensure that its complaints systems are operating effectively.
  • CONTRACTORS

    National Pacific Finance expects Contractors to immediately advise the Complaints Manager of all complaints.

    The Contractor will have 14 days to resolve the dispute. During this time the Contractor must keep the Complaints Manager updated. If after 14 days the dispute is not resolved, matter must be referred to the Complaints Manager.