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Farm Debt

Business Resources Small Business Commissioner January 4, 2016

The Victorian Small Business Commissioner (VSBC) mediates farm debt disputes under the Farm Debt Mediation Act 2011.

The legislation seeks to resolve farm debt disputes efficiently and equitably by requiring a creditor to provide a farmer with the option to mediate before taking possession of property or other enforcement action under a farm mortgage.

There are two types of mediation available under the Act. The first is creditor-initiated mediation, which results from a creditor issuing a notice under section 8 of the Farm Debt Mediation Act 2011. The second is farmer-initiated mediation, where a farmer takes the initiative to request mediation with their creditor.

Read more about the VSBC’s farm debt mediation role here.