DISP 4.1 Application and Purpose

The standard terms apply to any company, partnership, individual practitioner or other business which has decided to be a participant in the Voluntary Jurisdiction (a VJ participant). They are fixed by FOS Ltd with the approval of the FSA in accordance with paragraph 18 of Schedule 17 to the Act.

The standard terms are the basis on which complaints will be dealt with and determined under the Voluntary Jurisdiction. They cover:

1. (1)

   the rules and guidance for handling complaints (see DISP 4.2.2 R to DISP 4.2.6 R);

2. (2)

   an indemnity for FOS Ltd, any member of its governing body, any member of its staff and any person acting as an Ombudsman, as permitted by paragraph 18(5) of Schedule 17 to the Act (see DISP 4.2.7 R);

3. (3)

   the Ombudsman's powers relating to determinations and awards (see DISP 4.2.8 R);

4. (4)

   the enforcement of a determination (see DISP 4.2.10 R); and

5. (5)

   the process for withdrawal by a VJ participant from the Voluntary Jurisdiction (see DISP 4.2.11 R).