EDR- Extenal Dispute Resolution Schemes

Print PDF

If you are a registered person, you are required to be a member of one or more ASIC-approved External Dispute resolution  (EDR) schemes that cover the disputes, which could be made in relation to the credit activities you and your representatives engage in.

The details of how a consumer can access the EDR scheme must also appear in your credit guide.  These details must also be provided when your apply for a credit licence.

In situations where you also have credit representatives, you must also provide details of the processes in place to ensure that they are also members of an ASIC-approved EDR scheme.  This includes when the representative may change of cease their membership with the scheme.

If your representatives are not a member of an ASIC-approved EDR scheme, their authorisation will not take effect and it may be considered an offence under the National Credit Act.

There are currently two approved EDR schemes.

EDR schemes

Financial Ombudsman Service Ltd
Ph: 1300 780 808 or 03 9613 7366

  • Application fee $200
  • Yearly membership fee (2010-11) $275 – $11,000 based on size of business*
  • Dispute charges based on dispute
     * Most small business will pay the base levy of $275 p.a. 

Credit Ombudsman Service Ltd
Ph: 1800 138 422 or 02 9273 8400

  • Application fee $165
  • Base membership (includes one working director or employee business writer) $250 p.a.
  • Additional representatives $75 each
  • Additional fees for Mortgage Management, Managed Investments, Leasing, Debt Collection &  Debt Servicing
  • Additional fees for Securitisers, Lenders, Funders, Debt Buyers & other credit providers.    



Contact Us


Order Online


Order Form