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Preamble
As a member the United Association of Equipment Leasing
("UAEL or "the Association"), we acknowledge that there
are certain fundamental standards of practice which should serve as guiding
principles for all engaged in, commercial finance and equipment leasing.
As a member of UAEL, we further accept the UAEL Standards of Professional
Practice and the UAEL Dispute Resolution Procedures.
In the event of a dispute regarding an alleged violation
of these Standards, we agree to submit that dispute to the UAEL Standards
Committee for resolution in accordance with procedures adopted by the
Association.
Neither an alleged violation of the UAEL Standards of
Professional Practice nor any determination that an actual violation has
occurred shall delay, impair or otherwise affect the rights, remedies
or obligations of the parties to a commercial finance or an equipment
leasing transaction.
UAEL Standards of Professional Practice
- We will at all times conduct our activities with integrity,
dignity and professionalism and will encourage such conduct by others
in the commercial finance and equipment leasing industry.
- We will act with competence and strive to continually
maintain and improve our professional judgment through participation
in Association activities.
- We will maintain respect for keen competition and
for all competitors and will seek no advantage by dishonest or unethical
means.
- We will adhere to the principles of confidentiality
and accuracy of inquiries and replies in all exchanges of financial
and credit information.
- We will treat in a fiduciary capacity all funds received
in that capacity.
- We will at all times adhere to the specific terms
of our funding commitments, commission agreements, and/or purchase orders.
- We will not make payments directly to employees of
a vendor or other business source without that company's knowledge.
- We will never knowingly make false or misleading statements
or withhold information vital to a business decision, even if such information
becomes known to us after the funding of a transaction, and we will
correctly represent our relationships with all parties to the transaction.
- We will not simultaneously seek commitments from more
than one funding source without revealing that action.
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