Final answer:
Brokerage grievance procedures should include graduated steps to allow for a structured resolution process, from informal discussions to potential legal involvement if needed. This method helps resolve issues efficiently and ensures fairness by providing escalation options.
Step-by-step explanation:
It is advisable for a brokerage's grievance procedures to have a series of graduated steps. Such a series allows for the resolution of complaints in an orderly and fair manner, starting from informal negotiation to more formal approaches. By implementing graduated steps, it ensures that simpler issues may be solved quickly and efficiently, while more complex issues can take a route that is thorough and leaves room for escalation if necessary.
The first step in a grievance procedure is usually a direct discussion with the involved parties to try to resolve the issue at the lowest possible level. If the issue remains unresolved, it might escalate to mediation or arbitration. Finally, if necessary, the issue could be taken to a regulatory body or to court. This structure helps to balance the need for speedy resolutions with the right of all parties to have their concerns heard and addressed adequately.