Deadline for the payment of compensation

If the party eligible for compensation fills in the claims form as required, attaches the contract that constitutes the basis of the claim, and the records kept by the IPF member are available, the IPF must to evaluate the claim for compensation and send notification on the outcome to the claimant within 90 days after the filing of the claim. An investor that disputes an IPF decision on compensation may authorised to 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 the claim. The deadline for payment may extended once by a maximum of further days in justified cases after preliminary approval by the HFSA.