Dispute Resolution Committee

The Dispute Resolution Committee serves to facilitate resolution of disputes relating to payment issues between members. The purpose of the Committee is to provide expert knowledge from peer banks to disputing parties in order to not only find a solution acceptable to the two parties but also to identify possible amendments to agreements and rules to remove the cause of such dispute in the future.

Should any of the parties not agree with the finding of the Committee they may escalate the matter further in arbitration in court. Proposals made by the Committee are not enforceable by the Committee but serves as a recommendation to the affected Committees.

The seven members of the Committee are appointed by PASA Council member banks and they in turn elect a chairperson as they deem fit. The members are normally sought out of the legal fraternity as the experience and approach of persons trained in the legal environment serves the purpose of the Committee best.

The members of the Committee consist of nominees from :

• PASA Compliance
• Absa Bank Limited
• Capitec Bank Limited
• Citibank NA South Africa
• FirstRand Bank Limited
• Investec Bank Limited
• Nedbank Limited
• The Standard Bank of SA Limited