Overview
Icaza, Gonzalez-Ruiz & Aleman (BVI) Trust Limited (“ICAZA BVI“) is committed to providing its customers with efficient and professional customer service. ICAZA BVI recognises that the test of a good institution is not whether mistakes occur but how mistakes are dealt with and rectified.
As a result, ICAZA BVI has developed the complaints handling mechanisms (“Complaints Policy“) below to ensure that customers are dealt with fairly and that any complaints raised are investigated thoroughly, promptly, and professionally.
Customers can request a copy of this Complaints Policy.
Definitions
Complaint
Any expression of dissatisfaction, whether oral or written, about the provision of services carried out or actions made by ICAZA BVI.
Classification of Complaint
- Significant Complaint
Asignificant complaint is a complaint that
(a) constitutes a breach of a regulatory enactment.
(b) claims to be performed in bad faith, a malpractice, or impropriety on the part of ICAZA BVI, or one of its directors, employees, or agents.
(c) is a repetition or recurrence of a matter previously complained about (whether significant or otherwise).
(d) the complainant has suffered or may suffer financial loss material to their financial circumstances.
- Regular Complaint
A regular or general complaint is any complaint that does not meet the above criteria for a significant complaint.
General Guidelines
Where a customer (“complainant“) encountered an issue with our services or has any concerns, you can get in touch with us through the following contacts:
- Email: [email protected]
- Phone: +507 205 6115 / +507 205 6114
- Mail:
- Aquilino de la Guardia, No. 8, IGRA Building, Panama, Republic of Panama
- Tortola Pier Park, Building 1, Second Floor, Wickhams Cay I, Tortola VG1110, British Virgin Islands
Complaints are preferred in writing to help us fully understand the nature of the complaint/issue. The complainant must submit/file their complaint within two (2) weeks after the issue has arisen.
When filing a complaint, please include the following information:
- Full name and contact details.
- A description of the issue.
- Any relevant supporting documents (e.g., invoice, transaction records).
Handling Regular Complaints
1. Acknowledgment
Upon receipt of the complaint, the corresponding officer or employee of ICAZA BVI will inform the complainant within 48 hours of receipt that the matter will be investigated and will provide an update in due course. If required, further information will be obtained from the complainant, or an appointment will be made to discuss the matter.
Depending on the severity, the complaint will be reviewed by an officer or employee of suitable seniority who was not involved in the matter or, where this is not possible, by another person of appropriate standing who is not an officer or employee of ICAZA BVI, and a substantive reply must be sent promptly.
Significant complaints[1] shall immediately be directed to the Managing Director, and all other complaints shall be handled by the assigned officer or employee of ICAZA BVI.
Regular complaints, such as clerical errors, typically require minimal investigation and are expected to be resolved within two (2) business days. If unresolved after this period, ICAZA BVI will update the complainant on the investigation’s progress and outline the steps being taken to address the issue promptly. Clear and ongoing communication should be maintained, with a formal response provided within five (5) business days of receiving the complaint. If resolution is not possible within this timeframe, ICAZA BVI will promptly inform the complainant of the delay, explain the reasons, and provide an updated timeline for resolution.
The first substantive reply to the complainant, unless it offers a settlement reasonably expected to be acceptable to the complainant, should advise the complainant that the complainant has a right to complain directly to the Commission.
Handling Significant Complaints
1. Complaint Escalation
Complaints classified as significant are immediately escalated to the Managing Director or a designated senior manager of ICAZA BVI.
Significant complaints will always be considered by a senior manager of ICAZA BVI, who is independent of the circumstances that gave rise to the complaint, or, if this is not practicable, by a director of ICAZA BVI.
ICAZA BVI will aim to resolve significant complaints within twenty-one (21) business days. If the complaint remains unresolved within this period, ICAZA BVI will inform the complainant of the status of the investigation and indicate a timeframe within which they anticipate resolving the issue. If a complaint remains unresolved six (weeks) after the receipt of the original complaint, ICAZA BVI will immediately provide a report to the complainant outlining the progress. Additional updates will be frequently provided to the complainant every two (2) weeks thereafter until the matter has been entirely resolved.
If your complaint remains unresolved after three (3) months, we will inform the British Virgin Islands Financial Services Commission and notify you of your right to escalate the issue directly to them.
Escalation and Notification to the Regulatory Authority
If the complaint remains unresolved for a period longer than three (3) months or the response provided by ICAZA BVI is unsatisfactory, you have a right to escalate your complaint directly to the BVI Financial Services Commission (“Commission”).
You may contact the Commission at:
British Virgin Islands Financial Services Commission
18 Pasea Estate Road, Road Town,
Tortola, British Virgin Islands
VG1110
Telephone: 1 (284) 494-1324
1 (284) 494-4190
1 (284) 347-4001
1 (284) 852-4123 (Client Support)
Fax: 1 (284) 494-5016
Email: [email protected]
Automatic Closure of Complaints
Where a complainant has received a substantive reply in connection with a significant complaint and has not expressed dissatisfaction within four (4) weeks of the response being delivered—or, if sent by post, within four (4) weeks from the date of postage—the complaint may be treated as settled on the terms outlined in the response. This is contingent upon the response, including clear notification that the complaint would be considered resolved in the absence of further feedback from the complainant.
Record Keeping
ICAZA BVI will keep a full record of each significant complaint and the actions taken in response to it for five years after the date of the last response.
[1] Further to Section 69B (1) of the British Virgin Islands Regulatory Code, a “significant complaint” means a complaint that alleges:
(a) a breach of a regulatory enactment.
(b) bad faith, malpractice, or impropriety on the part of the licensee, or one of its directors, employees, or agents.
(c) the repetition or recurrence of a matter previously complained about (whether significant or otherwise).
(d) that the complainant has suffered, or may suffer, financial loss that is material in relation to his financial circumstances