Schlichtungsstelle für gewerbliche Versicherungs-, Anlage- und Kreditvermittlung

Overview

Fees for traders

Fees to be paid by the company

A fee of EUR 50 will be levied by the conciliation board for participation in the dispute resolution procedure, regardless of the amount in dispute, on companies which are members of VOTUM, the association of independent financial service providers in Europe, on their employees, and on commercial representatives or brokers which work with these companies.

A fee of EUR 100 will be levied by the conciliation board for participation in the dispute resolution procedure, regardless of the amount in dispute, on independent financial service providers which are not members of the association of independent financial service providers in Europe but which have joined the dispute resolution procedure and whose professional indemnity insurers have paid a financial contribution to the association of independent financial service providers in Europe to support the conciliation board.

The fee rules in section 31, paragraph 1 of the German Act on Alternative Dispute Resolution for Consumer Disputes [Verbraucherstreitbeilegungsgesetz – VSBG] apply to independent financial service providers which belong to either of the two groups mentioned above, but which have joined the dispute resolution procedure, with the proviso that the fee rates amount to 50% of the fees listed in the Act.

The entity is competent for disputes in the following sectors

• Financial Services
• Financial Services - Payment account and payment services
• Financial Services - Credit (excluding mortgage/home loans)
• Financial Services - Mortgages / Home loans
• Financial Services - Savings
• Financial Services - Other
• Investments, pensions and securities
• Non-life Insurance - Home and property
• Non-life Insurance - Transport
• Non-life Insurance - Travel
• Non-life Insurance - Health, accident and other
• Insurance - Life
• Insurance - Other

Fees to be paid by the consumer

• No

Fees to be paid by the trader

• Yes

Type of fee for the trader

• Variable fee

Language(s) of the procedure

• German

The procedure is done

• in writing

Outcome of the procedure

• Binding

Grounds for refusal

• The consumer did not attempt to contact the trader first to try and resolve the matter bilaterally
• The dispute is frivolous or vexatious
• The complaint is being or has previously been considered by another dispute resolution body or by a court
• Dealing with the dispute will seriously affect the functioning of the dispute resolution body