Students from the National University of Singapore Pro Bono Group prepared this guide. The guide is for public education and is not legal advice.

General Process
FIDReC follows a 2-step process for financial disputes. First, you must submit a complaint against financial institutions that are under FIDReC’s jurisdiction. Only then can the claim proceed to mediation. If a consensual resolution cannot be reached at mediation, you can then choose to adjudicate your claim.

What is Adjudication?
In adjudication, the parties present their case to an impartial Adjudicator who will make a decision on the case. The Adjudicator is usually a retired judge, an experienced lawyer, or a skilled professional.

If the Adjudicator makes an award in favour of you, you can choose whether to accept the award or not. If you accept the award, the financial institution is bound to comply with it.

If you are not satisfied with the award, you can pursue your claim elsewhere, including going to court.

Am I Eligible for Adjudication?
Although there are no claim limits for mediation, there is a limit of S$100,000 per claim for adjudication. Non-monetary claims cannot be referred to adjudication.

In the event your claim exceeds S$100,000, it may still be referred to adjudication if:

  • you agree to reduce the claim amount to S$100,000; or
  • the financial institution agrees to the higher claim amount.

How Do You Start the Adjudication Process?
First, you need to fill in the Pre-Adjudication Declaration Form, which can be found on your FIDReC portal. For the details on how to find and fill in the form, click here.

Second, you have to pay the adjudication fee. For claims under the FIDReC Scheme, it will cost S$50. For claims under the FIDReC-NIMA Scheme, it will cost S$250. These costs exclude GST.

Third, after paying the fee, you will have to prepare adjudication submissions and send them to FIDReC.

What Should the Adjudication Submissions Contain?
Both parties will need to submit written submissions and required documents to FIDReC by the given deadline. These submissions will be exchanged between the parties and given to the Adjudicator. Please refer to the User Manual for Adjudication Submissions and Settlements here for the specific list of documents required.  

Your submissions may include:

  • Correspondences between yourself and the financial institution (e.g. emails);
  • Contracts signed between yourself and the financial institution;
  • Insurance policy documents (if applicable);
  • Police or Medical Report, if any;
  • Evidence (e.g. photographs and dashcam footage); and
  • Repair bills and payment receipts.

Your written submissions should also explain the reason(s) why you deserve the specific amount you are seeking.

There is no need to present legal arguments, but you should state factually what had happened and why you deserve compensation. In doing so, you should refer to specific events, statements or any other documents or evidence submitted.

What Happens Before the Adjudication Hearing?
Before the adjudication begins, you and the financial institution will sign an Adjudication Agreement. FIDReC will then appoint an Adjudicator or a Panel of Adjudicators and inform both parties within 21 days.

What can I Expect during the Adjudication Hearing?
What to expect depends on whether the Adjudication Hearing takes place at a hearing or on a documents-only basis.

At an adjudication hearing, the Adjudicator will guide and direct you on the process. Generally, the process will be as follows:

  • Each party will take turns to present their case, call upon their witnesses and present all relevant documents.
  • The complainant may choose to question the financial institution and any of their witnesses.
  • The financial institution may similarly ask questions of the complainant and any of their witnesses.
  • The parties may be asked to summarise their case.
  • The Adjudicator will adjourn the hearing and prepare Grounds of Decision to explain the outcome.

If the adjudication is on a documents-only basis, the Adjudicator will review the submissions and documents. The Adjudicator will then prepare a written Grounds of Decision.

In all types of Adjudications, FIDReC will read the Grounds of Decision to the parties.

What if I am Not Satisfied with the Adjudicator’s Decision?
The decision of the Adjudicator or the panel of Adjudicators is only binding on the financial institution. You are free to choose whether to accept the decision or to take further action, such as going to court. However, you are not allowed to appeal the decision made by the Adjudicators.

If you accept the decision, you will enter into a Settlement Agreement with the financial institution. This Settlement Agreement binds both parties.

If you reject the decision, you are free to pursue the complaint through other avenues. Examples of such avenues include commencing legal process, or arbitration.

For more information, please visit FIDReC’s Frequently Asked Questions page or submit an enquiry.