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Timeline set for settling Rana Plaza beneficiary claims

March 21, 2014 (Bangladesh)

The Rana Plaza Co-ordination Committee met on 18 March 2014 and decided the following points and provided further steps for implementing them while authorizing that the decisions taken be made public:
 
-There is a single approach that provides for compensation for 3600 victims or their families; this is the Coordinated Arrangement based on ILO Convention 121 and Bangladesh law. 
 
Primark is taking 100% responsibility for the compensation of the NWB beneficiaries which will be calculated and recognised under the single approach.  (Primark’s methods may result in upwards adjustments or additional financial aid in certain cases.)  A technical arrangement for coordination will ensure for the 600 NWB beneficiaries the same or equivalent results and services as all other beneficiaries.
 
A timeline will be set for all beneficiaries’ claims to be prepared and received within 3-4 months from the start date next week and to be processed within approximately 6 months.  
 
The timeline will include the following:
-March 28: a first batch of beneficiaries (NWB workers) will receive a first installment of compensation directly from Primark (up to 20 per cent or other per cent agreed)
 
Before April 24:
a) a second batch of beneficiaries will receive a first installment of compensation through the Trust Fund following processing of their claims by April 15 and the Coordination Committee's authorization of  awards recommended by the independent Commissioners (up to 20% or other percentage agreed)
 
b)all eligible beneficiaries will receive an advance payment in amount of BDT 50,000 before April 24 (total of USD 2 million), which will be deducted from the total award due to each beneficiary at time of processing.
 
Before 30 April :
-the Committee will reconvene to review the fruits of the intensive resource mobilisation pre-anniversary, and come to decision about the roll-out of future payments and set a time-bound period to proceed with further percentage installments, including by Primark to NWB workers.
 
The Committee noted for the record Primark’s statement that for its purposes 100% pay-out would be optimal before end of May, and agreed that this would be reviewed by end of April.
 

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