Compensation Fund
Global Consumer Protection
The UCP also provides up to $2,000,000 additional protection for the consumer through UCP’s Compensation Fund.
File a Complaint
Dispute Resolution Process
Segregated Guarantee Funds
Purpose of the Compensation Fund
The Consumer Protection Fund (the Fund) compensates consumers who suffer a financial loss as a result of fraud, breach of trust, or a failure to disburse or account for money held in trust by a licensee.
The maximum coverage of Compensation?
The Compensation Fund will only cover judgments up to €1,800,000 or $2,000,000 per consumer of a company or business.
How does it work?
The Compensation Fund is a fund that acts as an insurance policy for consumers, but it is only used should a company or business refuse to adhere to a judgment from the UCP or if a member is removed from the UCP without paying under a judgment that was awarded against it. This is how we make sure the safety of the global consumers.
How is Compensation Fund financed?
The Compensation Fund is financed by the Universal Consumer Protection (UCP) through the fixed deposit of a business or company during the registering process for regulatory license which are held in a separate bank account and cannot be used to finance operations or other activities of the organization.
The average duration of fund distribution
UCP will distribute compensation to the complainant within 30-90 days following the UCP's decision on the company's change in status. During this time the UCP will pursue all available measures to provide a payout from the company or business directly to the complainant and verify the complainant’s personal information.