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Home / Dispute Resolution Policy

Dispute Resolution Policy

Official Policy Content

Dispute Resolution Policy

01

1. Introduction

  1. 1.1 The Society recognizes the importance of resolving disputes in a timely and effective manner. Members are encouraged to first attempt informal resolution by speaking with the concerned department.
  2. 1.2 If informal resolution is not possible, members may raise a dispute under this policy.
  3. 1.3 This policy covers disputes related to services, schemes, products, credits given to members, and deposits given by members to the Society.
  4. 1.4 The dispute resolution process consists of two steps: mediation and arbitration.
02

2. Mediation

  1. 2.1 If a dispute is raised, the Society will appoint a mediator from a panel of persons experienced in cooperation, credit, banking, law, and professional matters, selected by the Board of Directors for each state in which the cooperative operates.
  2. 2.2 The panel will be decided in consultation with selected and prominent members of the Society.
  3. 2.3 The mediator facilitates communication between parties and assists in finding a mutually acceptable resolution.
  4. 2.4 Mediation is non-binding, and parties are free to accept or reject any proposed resolution.
  5. 2.5 The mediation process will begin within 30 days of the dispute being raised and will be completed within a reasonable time frame.
03

3. Arbitration

  1. 3.1 If the dispute cannot be resolved through mediation, it will proceed to arbitration within 60 days of the dispute being raised. Arbitration will be binding and compulsory.
  2. 3.2 Legal matters will be subject to the jurisdiction of the district or courts having power over the place where the state head office of the Society is located.
  3. 3.3 The panel for arbitration will be the same as the panel for mediation. The arbitrator makes a final and binding determination after parties present their case and relevant evidence.
  4. 3.4 The Society is committed to resolving disputes in a fair and impartial manner and will make reasonable efforts to ensure the process is timely and efficient.
04

4. Conclusion

  1. 4.1 Members are encouraged to make use of the dispute resolution policy whenever necessary.
  2. 4.2 The Society is committed to ensuring that all disputes are resolved in a manner that is fair and equitable to all parties involved.