The Chartered Institute of Arbitrators (CIArb) and the Association of Chartered Certified Accountants (ACCA) have renewed their partnership with respect to the provision of mediation services for ACCA members, a partnership previously held with CIArb’s former subsidiary, IDRS.
CIArb has agreed to independently administer a revised ACCA Mediation Scheme, which will handle disputes arising between ACCA members (including firms regulated by ACCA) and their clients or any other parties.
Under the revised scheme rules, CIArb’s Dispute Appointment Service will act as the appointing body, to appoint a suitable mediator from its panel of civil and commercial mediators.
The scheme will now operate under a simplified, fixed fee structure, which will vary according to the amount in dispute.
A monetary claim of up to £7,500 will attract an appointment fee of £150 + VAT, whilst a claim for over £20,000 will attract an appointment fee of £250 + VAT.
The mediator’s fee will also be fixed according to the amount in dispute, and will range from between £125 - £475 (+ VAT), on the basis of an allocated time frame for the mediation.
Further revisions have also been made to the rules of the scheme to encourage an expeditious and less costly process.
Commenting on the revised scheme, Head of the Dispute Appointment Service, Keisha Williams, said:
We are delighted to be assisting the ACCA once more in the provision of an effective and independent mediation service, which will provide a further avenue for ACCA members to resolve their business disputes, as well as opportunities for our own suitably qualified members to assist in the capacity of mediator.
Joanne Vlahos, Head of Assessment at ACCA, remarked:
We have successfully used ADR via our Conciliation Service for the resolution of complaints for several years, however, we have always had a certain type of complaint that is not regulatory in nature but would benefit hugely from the intervention of an experienced mediator. The strengthening of our partnership with CIArb affords us this opportunity and, we believe, delivers real member value.
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The Chartered Institute of Arbitrators (CIArb)
The Chartered Institute of Arbitrators (CIArb) is a leading professional membership organisation representing the interests of alternative dispute resolution (ADR) practitioners worldwide. With over 14,000 members located in 133 countries, CIArb supports the global promotion, facilitation, and development of all forms of private dispute resolution.