National Aircraft Finance Association (“NAFA”)
Code of Ethics
The following code of ethics is intended for use by NAFA members as a guidepost of what the NAFA board of directors expects of our membership. The code of ethics is not intended to establish a standard of care for, nor is it binding upon, NAFA members but is instead meant to establish aspirational goals which all NAFA members should strive to achieve.
Principle 1 – Integrity: Provide professional services with integrity.
Integrity demands honesty, courage, and candor which should not be subordinated to personal gain and advantage. Individuals are placed in positions of trust by clients, and the ultimate source of that trust is the Individuals personal integrity. Allowance can be made for innocent error and legitimate differences of opinion, but integrity cannot co-exist with deceit.
Principle 2 – Objectivity: Provide professional services objectively.
Objectivity requires intellectual honesty and impartiality. Regardless of the particular service rendered or the capacity in which an Individual functions, Individuals should protect the integrity of their work and maintain objectivity.
Principle 3 – Competence: Maintain the knowledge and skill necessary to provide professional services competently.
Competence means attaining and maintaining an adequate level of knowledge and skill, and application of that knowledge and skill in providing services to clients. Competence also includes the wisdom to recognize the limitations of that knowledge and when consultation with other professionals is appropriate or referral to other professionals necessary. Individuals are encouraged to make a continuing commitment to learning and professional improvement.
Principle 4 – Fairness: Be fair and reasonable in all professional relationships. Disclose material conflicts of interest.
Fairness requires impartiality, intellectual honesty and disclosure of material conflicts of interest. It involves a subordination of one’s own feelings, prejudices and desires so as to achieve a proper balance of conflicting interests.
Principle 5 – Confidentiality: Protect the confidentiality of all proprietary client information.
Confidentiality means using commercially reasonable efforts to ensure that client information of a confidential nature is properly safeguarded. A relationship of trust and confidence with the client can only be built upon the understanding that the client’s information will be properly safeguarded.
Principle 6 – Professionalism: Act in a manner that demonstrates exemplary professional conduct.
Professionalism requires behaving with dignity and courtesy to clients, fellow professionals, and others in business-related activities. Individuals should endeavor to cooperate with fellow Individuals to enhance and maintain the profession’s public image and improve the quality of services.
Principle 7 – Diligence: Provide professional services diligently.
Diligence is the provision of services in a reasonably prompt and thorough manner, including the proper planning for, and supervision of, the rendering of professional services.