Code of Ethics
PREAMBLE
The Nebraska Auctioneers Association is the professional organization
for practicing auctioneers, their associates, affiliated businesses
and other related professionals. Membership in the NeAA although
voluntary, carries with it a requirement of professional commitment
to other professionals, clients, customers and the public
at large that extends beyond that of laws and professional
regulations. Members of the NeAA accept this obligation to
conduct themselves and their businesses in a manner that serves
the public interest, protects the public trust and furthers
the goals of their profession.
This Code of Ethics of the Nebraska Auctioneers Association and the accompanying Standards of Practice guides the members in the performance of their professional responsibilities and duties. While this Code may establish obligations higher than those mandated by law, in any instance where the Code and the law conflict, the obligations of the law must take precedence.
RESPONSIBILITIES
TO CLIENTS AND CUSTOMERS
ARTICLE 1. Members pledge to protect and
promote the interests of the client. This obligation of absolute
fidelity to the client's interests is primary, but does not
relieve members of their obligation to treat all parties to
the transaction fairly.
ARTICLE 2. Members must, in conducting an
auction, deal with customers in a manner exhibiting the highest
standards of professionalism and respect. Members owe the
customer the duties of honesty, integrity and fair dealing
at all times.
ARTICLE 3. Members should, to assure better
service to the seller and to prevent misunderstandings, enter
into written agreements or, at a minimum, clear oral agreements
that set forth the specific terms and conditions of the engagement
ARTICLE 4. Members shall not accept compensation
from any party, other than the client, even if permitted by
law, without the full knowledge of all the parties to the
transaction.
ARTICLE 5. Members shall provide the highest
level of competent service in those fields in which members
are customarily engaged. This competency is attained by education,
training, study, practice and experience. Competence also
includes the wisdom to recognize the limitations of that knowledge
and when to seek the counsel, assistance or client referral
appropriate for the circumstances.
ARTICLE 6. Members shall not undertake to
provide professional services where either they, members of
their immediate family, members of their firm, or any entity
in which they have an ownership interest has presently or
contemplates an interest, without first specifically disclosing
such interest or contemplated interest.
ARTICLE 7. Members shall not make a profit
on expenditures made for their client without the client's
prior knowledge and consent.
ARTICLE 8. Members shall not engage in activities
that constitute the unauthorized practice of law and shall
recommend that legal counsel be obtained when the interest
of any party to the transaction would be appropriately served.
ARTICLE 9. Members shall keep monies coming
into their possession in trust for other persons such as escrows,
trust funds, client's monies and other similar items in a
separate special account, in an appropriate financial institution.
ARTICLE 10. Members shall not disclose any
confidential client information without the client's specific
consent except as required by appropriate legal authorities.
RESPONSIBILITIES
TO THE PUBLIC
ARTICLE 11. Members shall avoid misrepresentation
or concealment of pertinent facts. There is an affirmative
obligation to disclose adverse factors of which they have
personal knowledge.
ARTICLE 12. Members must be careful at all
times to present a true picture in their advertising and representations
to the public. Members shall ensure that all advertising includes
the names and information necessary for the public to contact
the auctioneer or firm responsible for conducting the auction.
ARTICLE 13. Members must participate in continuing
education programs and should keep informed on all matters
affecting the auction industry and their areas of specialization.
ARTICLE 14. Members are duty bound at all
times to abide by the laws and regulations which govern the
profession as well as those which, if violated, would negatively
affect their ability to present to the public an image of
behavior that appropriately represents the professionalism
of our industry.
ARTICLE 15. Members should never publicly criticize a competitor using false or deceptive information. Where an opinion of a competitor's transaction is especially requested, it should be rendered in conformity with strict professional courtesy and dignity.
ARTICLE 16. Members should willingly share with other members the lessons learned through experience and study to better the profession, members' business practices and how the profession is perceived by society. Members shall be loyal to the NeAA; this includes active participation in educational, civic and charitable endeavors.
ARTICLE 17. Members should conduct their business affairs so as to avoid disputes with other members. In an instance where a controversy between members arises, they should seek the assistance of the NeAA to arbitrate the controversy.
ARTICLE 18. Members, having personal knowledge of an act by another member that, in their opinion, is a material violation of the ethical principles of this Code shall treat the matter in accordance with the procedures of filing a grievance.
ARTICLE 19. Members charged with unethical practice or who are asked to present evidence in any disciplinary proceeding or investigation shall promptly and voluntarily place all pertinent facts and information before the appropriate body.