Documents issued by the Alternative Dispute Resolution Entity in the non banking financial field (SAL FIN)
Documents issued by the Alternative Dispute Resolution Entity in the non banking financial field (SAL FIN)

Summary/Abstract: The settlement of a dispute between the consumer and a trader can also be conducted outside the litigation procedures, by a much simpler, faster procedure and within the reach of the parties. This procedure can be carried out by the Alternative Dispute Resolution Entity in the Non Financial Banking Field (SAL FIN), an entity without legal personality, established within the Financial Supervisory Authority.One of the main advantages of this non contentious procedure is that it is free of charge for the consumer and the trader who decide to submit the dispute to SAL FIN, as opposed to the litigation procedure which entails payment of court fees or attorneys' fees. Moreover, another advantage is that the dispute is resolved within reasonable time, as the law stipulates a term of maximum 90 days, which can be extended.The dispute between the parties can be resolved by the conciliators through a decision or a conclusion, issued after the completion of one of the two procedures, namely the procedure of proposing a solution and that of imposing a solution.If the parties are dissatisfied with the decision/conclusion issued by SAL FIN, they can submit a request with a general jurisdiction court to annul the said decision and settle the dispute between the parties.

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