To be a Member of the International Aircraft Dealers Association (IADA), an organization must agree to commit itself to our strict code of conducting business.
Shall create and maintain a reputation for honesty, integrity and transparency and shall adhere to the highest ethical standards in their dealings with other members, their respective clients and all other parties.
Shall be committed to constantly improving the quality of their services, products, and operations in order to provide a superior level of service, knowledge and value to their respective customers.
Shall accurately represent their authority to show, demonstrate or sell an aircraft.
Shall, as expeditiously as possible, submit to the seller all offers received. Once an offer has been accepted, all prospective purchasers, if any, will be informed of the accepted offer.
In attempting to secure an exclusive listing, shall not deliberately mislead the owner as to the market value of the aircraft.
When specifically acting as exclusive agent for an exclusive buyer or seller, shall not accept commission from more than one party to a transaction without the full knowledge of the principal(s) of the transaction.
Shall compensate, directly or indirectly, employees of the parties to a transaction only with the written knowledge of the subject party.
Shall present to the best of their knowledge accurate specifications of an aircraft for sale, and shall make truthful representations to the public.
Shall avoid exaggeration, misrepresentation, or concealment of all known pertinent facts relating to a transaction.
Shall provide a level of competent service in keeping with the highest standards of business and professionalism in the field of aircraft resale.
Shall reveal their true ownership or interest in any aircraft they represent to the purchaser or his/her representative.
Shall disclose any interest in other entities whose services they suggest or recommend that a client or owner use, and shall disclose any financial benefit they may receive as a result of the use of those services.
Shall make full disclosure of charges and costs associated with any agreement.
Shall use reasonable care to ensure that documents pertaining to the purchase and sale of aircraft are kept current through the use of written extensions and amendments.