Deadline for the payment of compensation
If the claimant fills in the claims form as required, attaches the contract that constitutes the basis of the claim, and the records maintained by the respective IPF member are available, the IPF must process the investor’s application for compensation within ninety days from the date when the application was submitted. An investor that disputes an IPF decision on compensation may take civil action.
Once a claim for compensation is accepted, the IPF must effect payment immediately but by no means later than 90 days after the affirming of the claim. The deadline for payment may be extended once by a maximum of further ninety days in justified cases after preliminary approval by the MNB.