Publication details
The Financial Arbitrator in the Czech Republic
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| Year of publication | 2023 |
| Type | Chapter of a book |
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| Description | The Financial Arbitrator in the Czech Republic is a state-established authority for out-of-court settlements of consumer disputes within the financial market. The position of the Financial Arbitrator, which combines elements of administrative and judicial bodies, is a major challenge to Czech law. The Financial Arbitrator has a specific place among the executive authorities, which is reflected especially in the rules on proceedings before him. This paper will focus on the proceeding before the Financial Arbitrator and the way of compensating for the imbalance in the relationship between consumers and financial institutions. It will also assess the position of the consumer in the proceeding and the judicial review of the Financial Arbitrator decisions. The aim of this paper is to determine whether the legislation and its actual application allows the Financial Arbitrator to ensure a fast, free, and effective resolution of disputes. |