AELA Code of Practice
AELA members undertake to:
- transact their business in such a manner as will reflect credit on that member and on the Leasing and Equipment Finance Industry;
- transact their business fairly, reasonably and honestly and encourage such conduct by suppliers, brokers, packagers and others in the Leasing and Equipment Finance Industry;
- transact their business with competence, care and prudence, ensuring their due compliance with relevant established legal, legislative, accounting and commercial requirements;
In transacting their business in the above manner, AELA members will endeavour to:
- ensure that all relevant facts concerning the contract and transaction are properly disclosed;
- ensure that the documentation clearly sets out all the terms and conditions of the transaction;
- ensure that facts concerning the transaction are not misrepresented; and
- ensure that all queries, complaints or disputes from a lessee or borrower regarding the transaction and its administration are answered and/or resolved promptly, efficiently and economically.
In recognition that AELA membership is corporate rather than personal, AELA members shall take all reasonable steps to bring this Code of Practice to the attention of their officers and employees and shall use their best endeavours to ensure that such persons observe this Code.
‘the promotion of ethical standards in the conduct of business among Association members and with the general community.’