While ICASP Professionals are not legally bound to the following Code of Ethics, ICASP believes standards in the industry need to be clearly stated as the first step in identifying actions which are, and are not, to be treated as acceptable business practices. In the event ICASP determines, in it's sole discretion (based upon documentation provided by one or more parties to a transaction), that a Professional has not adhered to the following in any recent transaction, the Professional shall be required to cease use of their ICASP Rating and shall be removed from this website. For additional information, please see our Ratings and FAQ sections.
Aircraft Sales Code of Ethics Guidelines
1) In line with my profession, I will devote the time and resources required to remain current on the changes, trends and events which may be expected to impact my client's transactions;
2) I will devote the appropriate time and energies to perform due diligence in the performance of my duties, to the level my clients should reasonably expect for a transaction of the magnitude they have hired me to perform;
3) I will protect the interests of my clients, without undue disregard for the welfare of the other parties involved;
4) I will honestly represent to each client any areas in which my expertise may not be sufficient to a given task and assist them in obtaining additional resources which can supplement their needs and interests;
5) I will clearly represent my affiliation with any individual, company, aircraft or transaction to my clients - in writing where appropriate;
6) I will disclose in writing all commissions, including referral fees or any compensation whatsoever which I shall receive or pay on behalf of a given transaction, to my clients in an appropriately timely manner;
7) I will put in writing to every reasonable extent, documents, communications, and especially financial matters and assure all parties receive documents in their entirety;
8) I will act in a timely manner, both in daily activities such as returning calls or correspondence and in larger matters such as presenting offers immediately upon receipt;
9) I will treat all parties, including lower tier employees, directly or indirectly related to a transaction with respect for their time and their interests;
10) I will retain documents for at least three years upon completion of transactions;
11) I will act to preserve the privacy of clients and their transactions, including their contact and financial information and any specifics of a transaction, before, during and after said transactions;
12) I will assure the people with whom I work and affiliate, as well as newcomers to the industry (whether as an Aircraft Sales Professional or a Principal) understand the importance these principles to both our industry and myself.