Our Code of Ethics
At Edison Capital Leasing LLC, we take our responsibility to our professional community and customers very seriously. We hold dear and are subject to the following code of ethics as prescribed by the National Association of Equipment Leasing Brokers (NAELB).
NAELB Code of EthicsAs broker members, funding source members, associate members and honorary members of the NAELB, we at Edison Capital Leasing LLC pledge ourselves to maintain honesty, professionalism and integrity in all our dealings with customers, fellow members, the public, equipment vendors, all licensed professionals, other brokers and funding sources, employees and subcontractors and members of other professional leasing associations. We ascribe to the following Code of Ethics and pledge ourselves to the word and principal of these ethics:
- We will demonstrate honesty, professionalism and integrity in all our relationships and business dealings with customers, fellow members, the public, equipment vendors, all licensed professionals, other brokers and funding sources, employees and subcontractors and members of other professional leasing associations. We will at all times adhere to two golden rules: First, treat other business professionals as we would like them to deal with us and Second, to always conduct our business dealings so as to reflect a positive image upon our profession and the Association.
- We will respect the right of ownership of property. Where we have received funds in a fiduciary capacity, we will hold and account for those funds until returned or owned. If a transaction does not close, we will not keep such funds unless (a) the party remitting the funds has acknowledged that the funds are deemed earned, (b) to cover actual expenses incurred in the processing of the transaction, or (c) the subject transaction does not close due to a breach or fraud by the applicant and the application or agreement clearly permits retention for these reasons.
- We will communicate as soon as it becomes available to us all information germane to all third parties, funding sources, lessees, vendors and any others where the knowledge of any facts may impact any such party's decision regarding the transaction in any way. However, we will only communicate such information to the affected party, recognizing that we should not spread information to parties other than those affected by such information.
- We shall respect the confidences of our customers, clients and business associates. Any information delivered to us with the expectation of confidence shall be kept confidential by us. At all times, however, we shall not use the shield of confidence to hide facts that are germane to keep a funder, broker or other party fully informed about a transaction.
- We will never knowingly make false statements to anyone. Under no circumstances will we perpetuate, encourage or disregard fraudulent or inherently dishonest activity by any person in connection with an equipment leasing transaction.
- When we are asked for legal, accounting, tax or any other professional advice, outside our profession, we will always advise that the individual we are speaking to should ask the same question of a duly licensed and qualified professional.
- We will not make payments to employees or other agents of a supplier or funding source without the knowledge and permission of the supplier or funding source.
- We will ascertain that all equipment has, to the best of our knowledge, been delivered before selling or assigning to any third party any lease transaction except where such verification is not required by a funding source prior to funding, such as in a pre-funding program. However, we shall cooperate with the funding source on all issues of delivery and acceptance of equipment as our funding sources shall require.
- We will deal fairly with our funders in a manner which respects the value of their time and financial commitment. We will not request funding for any transaction if we do not honestly believe that the funding source would exhibit some level of interest in funding the proposed transaction in accordance with the funding source's programs. We will use our best efforts to submit proper and complete applications and documentation in accordance with the policies set by our funders from time to time.
- In all cases where subsequent facts impacting the viability or legitimacy of a lease transaction become know to us, even if such facts become known to us after the funding of a transaction, but only within a reasonable time after the funding of the transaction, then we shall communicate that information to all parties known to us having an interest in that transaction.
- In regard to our competitors, we will not seek unfair advantage by dishonest, unethical or questionable actions.
- We will strive to enhance our professional competence and keep ourselves informed of all new developments in our industry.
- We will respect the valuable proprietary nature of and relationships between brokers and their lessees and vendors and not circumvent these relationships except under terms which are agreed to in advance by all parties involved.
- The use of the terms "National Association of Equipment Leasing Brokers", "NAELB" and the NAELB "Logo" shall be used only by members in good standing on their letterhead and business cards in accordance with rules promulgated by the NAELB Board of Directors from time to time. In the event that any member becomes aware of the use of the aforesaid by a non-member, then such member shall immediately bring the usage by the non-member to the attention of the Board of Directors for further action.
- All members of the National Association of Equipment Leasing Brokers agree to abide by and submit to the arbitration dispute resolution program administered by the NAELB and in effect from time to time.