What is the main function of the Voluntary Broker Resolution Process (VBRP)?

The primary function of the Voluntary Broker Resolution Process (VBRP) is to provide a mechanism for brokers to resolve complaints and disputes without resorting to formal court proceedings. This process is designed to encourage collaboration and open communication between parties involved, facilitating a resolution that is both efficient and less adversarial than traditional legal routes. By focusing on mediation and negotiation, the VBRP helps maintain professional relationships and reduces the emotional and financial burden that often accompanies legal disputes.

The other options do not align with the purpose of the VBRP. While formal court proceedings are a more structured legal approach to resolving disputes, the VBRP aims to avoid this level of contention. The process does not have a role in eliminating the need for insurance, nor does it directly deal with compliance issues related to privacy laws. The essence of the VBRP lies in its ability to address and resolve issues in a way that is beneficial for the parties involved, promoting effective dispute resolution among brokers.