FAEPI CODE OF ETHICS
Article 1.- The mission of any faepi associate.
The mission of any associate is to serve with guarantees and solvency to consumers who request their services.
Article 2.- The Deontological Rules.
The Deontological Rules are intended to guarantee, by their freely consented acceptance, the good execution by the associate of the service provided. Failure to observe these rules will ultimately result in a disciplinary sanction.
Article 3.- Scope of application.
The rules listed below shall apply to the associated appraisers, experts and mediators of the National Association of Appraisers, Experts and Mediators (FAEPI).
Chapter 1.- General Principles
Article 4.- Independence.
The associate must avoid any attack on his independence and be careful not to neglect professional ethics in order to satisfy the consumer and third parties.
Article 5.- Integrity.
It is part of the very nature of the mission of the associates, that it is the depositary of the wishes and communications of its clients, to whom it will attend diligently.
The associate will ensure that his staff or any person who collaborates with him in his professional activity respect this premise.
Article 6.- Interests of the consumer.
Without prejudice to legal and ethical rules, the associate has the obligation to manage the interests of his client as effectively as possible.
The partner will adapt to the most beneficial legal provisions for the consumer
Article 7.- Dignity.
The associate must always act, in accordance with the rules of honor and dignity of the profession, refraining from any behavior that involves infringement or discredit.
Article 8.- Freedom of choice.
The consumer freely chooses the associated professional, who has the duty to facilitate the exercise of that right.
Chapter 2.- Relations with consumers
Article 9.- Beginning and end of relations with consumers.
The associate will start his professional activity upon request from his client, unless he acts in collaboration with another associate who holds the consumer's order.
The associate will advise and work for the consumer quickly, conscientiously and with due diligence. It must keep you informed of the evolution of the management entrusted to you.
Article 10.- Fees.
The associate may fix his fees, freely, based on a certain percent of the operation or arrange a fixed amount.
The latter must inform consumers of what it charges as fees, and the amount of the fees must be fair and justified.
An invoice will always be issued for the services performed.
Article 11.- Distribution of fees.
The associate is allowed to distribute fees, when working in collaboration with other professionals in the sector.
Article 12.- Consumer funds.
When at any time the associate has in his possession funds belonging to consumers or third parties, he will be obliged to observe the following rules.
- a) Consumer funds must be deposited in an account opened with a Financial Institution.
All consumer funds received by an associate must be credited to that account, except in the case of express or implicit authorization from the consumer for the funds to be used for a different purpose.
- (b) Any account opened in the name of the partner containing consumer funds shall mention that the funds have been deposited in it on behalf of the clients.
- (c) The accounts of the partner in which the consumer funds are deposited shall be constantly covered by at least the total consumer funds held by the associate.
- (d) Consumer funds shall be available on sight, at the request of the consumer, or under conditions previously accepted by the consumer.
- (e) The partner shall record in a complete and precise manner all transactions carried out with the funds of consumers, distinguishing the latter from any other sum in his possession, and shall make them available to the consumer who so requests.
Article 13.- Professional liability insurance.
The associate must at all times have professional liability insurance, for a reasonable amount, taking into account the nature and extent of the risks he assumes in the performance of his activity.
Article 14.- Assumption of the assignment.
The associate is free to accept or reject matters in which his intervention is requested, without the need to express the reasons for his decision.
The assumption of the order will be made in the document for this purpose, "the order sheet".
Article 15.- Trust.
The relationship of the partner with the consumer must be based on mutual trust.
Article 16.- Documentation.
The associate may not withhold documents that have been provided by the consumer, under the pretext of having pending collection of fees.
Article 17.- Advertising.
The associate cannot proceed to the unfair acquisition of clientele.
It is allowed:
- a) Use direct or indirect advertising procedures, whether on their own initiative, or accepting offers from third parties.
- b) Offer their professional services by addressing clients through circulars, letters or other oral, written or graphic forms.
- c) Entrust third parties with obtaining clients, whether their work is remunerated or not.
- d) Receive fees lower than those of the competition.
- e) Acts similar to the previous ones that do not contradict the legislation in force.
Chapter 3.- Relations with the Association
Article 18.- Obligations.
The associate is obliged to respect the legal provisions, the Statute of the Association, as well as this Code of Ethics.
Article 19.- Governing Bodies.
Special respect shall be due to the Board of Directors and its members when they intervene in that capacity.
In any case, it must attend with the utmost diligence to communications and summonses emanating from that body or its members, in the exercise of their functions.
Article 20.- Communications.
The Association will be informed of cases of illegal exercise, grievances that arise in the professional practice or of which they have knowledge that affect another associate.
Article 21.- Collaboration.
The associates will benefit from a mandatory arbitration by the different bodies for this purpose, or by the one that for this purpose is constituted in the same Association.