Wednesday, October 2 2013 18:49
In Armenia most financial organizations refuse to dispute verdicts of financial system mediator
ArmInfo. In Armenia most financial organizations refuse to dispute the verdicts of the financial system mediator, presumably, because they think that courts will take the mediator's side, Armenia's Financial System Mediator Piruz Sargsyan said during a conference on financial system mediation on Wednesday.
"Most of the contacts signed by financial organizations with customers have such a point but they still can dispute the mediator's verdicts unless there is a special agreement that they cannot," Sargsyan said.
To remind, on Oct 9 2012 the Constitutional Court ruled that financial organizations shall be allowed to dispute the verdicts of the financial system mediator.
The office of the financial system mediator was instituted on Jan 24 2009. The mediator's services are free of charge, with the source of its income being monthly fees by financial organizations.