|Important Features of the Claims Resolution Procedure
The rules have been established to provide a flexible procedure for dealing with claims to dormant accounts. The most important features of the Claims Resolution Procedure are:
Thanks to these features, the procedure before the Tribunal has important advantages over other available means of redress and is very well situated to achieve a fair resolution of claims. Claimants are not required to obtain a lawyer, although they may elect to be represented by a lawyer or to be assisted by a person of their choice.
- It is free of charge for all claimants. All costs are borne by the Swiss banks from their own funds.
- The Tribunal is impartial and independent from the Swiss banks.
- The Tribunal reviews claims under relaxed standards of proof based on information claimants are able to provide. If the claim is plausible in the light of all circumstances, the Tribunal will approve it.
- The Tribunal has the authority to increase awards taking into account interest and bank charges, according to guidelines to be prepared by the Board of Trustees on the recommendations of a panel of economic experts.
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