25 August 2021
Call for growers to register unresolved banking complaints
A FREE and independent dispute resolution service, the Business Banking Resolution Service (BBRS), is appealing directly to farming businesses to see if their long-standing bank disputes can be tackled.
It is estimated that nearly 600,000 UK SMEs could qualify for the BBRS' services. More than 13,000 business in the agriculture sector, including those which have since closed down, merged or been sold, could access BBRS’ independent, free-of-charge, specialist dispute resolution service. The BBRS is urging farmers and related businesses with outstanding banking disputes dating back to 2001 to see if they can apply for their support using their quick online tool. The BBRS is fully independent and free to use.
The process is overseen by Chief Adjudicator, Alexandra Marks CBE, a Deputy High Court Judge, and resolves disputes based on what is fair and reasonable for each case. Businesses going through the service will be assigned a highly skilled dispute resolution specialist, who will act as a single point of contact and offer practical support. The BBRS is able to make both financial and non-financial awards when a complaint is upheld.
Small Business Minister Paul Scully said: ““It has been a testing year for so many of Britain’s small businesses, and we have undertaken unprecedented measures to keep alive the creativity, dynamism and entrepreneurial spirit which they bring to every sector of the economy and every community across the country.
“Services like the BBRS will play a vital role in ensuring small business owners can access expert advice and have their voices heard, not only as we build back better from this pandemic but also well into the future.”
Chief Adjudicator, Alexandra Marks said: “We want as many businesses as possible in the agricultural sector - and directors of those no longer operating - to have the o0070portunity to use the BBRS’ service. We encourage those with unresolved disputes to seek our help to achieve a fair resolution. We urge them to see if they qualify for our help and, if so, to register as soon as possible. If unsure, businesses can check online or contact us to find out more.”
The BBRS’ Historical Scheme covers banking complaints first registered in the period from December 1st 2001 to March 31st 2019. Businesses may qualify for support if they had turnover between £1 million and £6.5 million per annum at the time of their complaint, and their case has not already been settled, been subject to an independent review, or gone to court. Businesses with turnover between £6.5m and £10m with unresolved banking complaints since April 2019 can apply to the BBRS’ Contemporary Scheme for support.
Growers can check and register online here.