They were: the law governing the substance of the dispute; the law governing the agreement to arbitrate; and the law governing the arbitration process.

First, it suggests that a future arbitration process should be 'inexpensive' for complainants rather than 'free', which should minimise vexatious complaints.

The arbitration process could take two to three years, the bank said.

These agreements included clauses requiring the members to use an arbitration process to resolve disputes.

All but 650 claims were settled without recourse to the arbitration process, but those 650 claims took almost six months to process.