Our operations are governed by published Terms of Reference (TOR). The TOR sets out our rules and processes, including:
- the types of disputes we can or cannot consider;
- the remedies we can award and their limits;
- our dispute resolution processes; and
- our reporting obligations.
Since the first FOS Terms of Reference came into effect in January 2010, there have been several updates which you can read more about under 'Earlier Terms of Reference' below.
The most recent version of the FOS Terms of Reference was released on 1 January 2018. Below is a list of current and three previous versions of our TOR including their effective dates.
The current Terms of Reference for disputes first lodged with FOS on or after 1 January 2018
ASIC-approved Terms of Reference effective from 1 January 2018
Disputes first lodged with FOS from 1 January 2015 to 31 December 2017
ASIC-approved Terms of Reference effective from 1 January 2015
Disputes first lodged with FOS from 1 January 2014 to 31 December 2014
ASIC-approved Terms of Reference effective from 1 January 2014
Disputes first lodged with FOS from 1 January 2012 to 31 December 2013:
ASIC-approved Terms of Reference effective from 1 January 2012
Disputes first lodged with FOS before 1 January 2012 are subject to the Earlier Terms of Reference (see below).