By the trade,
With the trade
A published list of arbitration award defaulted companies
Rule 11(c) and 11(d) of FOSFA Rules of Arbitration and Appeal, The Small Claims Single Tier and Brokerage, Commission and Interest rules, state that companies that disregard or do not comply with our arbitration procedures, can be ‘posted’ as defaulters.
This means that a defaulted company has:
- Failed to take up an award
- Failed to honour an award against it
- Failed to pay the fees, costs and expenses associated with an award
The decision to announce the details of a defaulted company is decided by the relevant Section Committee and approved by the FOSFA Council. The list of Posted Companies is published annually and only available to FOSFA members.
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What our Members say . . .
Source: FOSFA International Membership Survey Results 2021