1. General
1.1. Members shall adhere to the highest standards of honesty and
professional integrity both in their dealings with the public and in their
dealings with each other.
1.2. Members shall conduct their affairs with integrity and dignity.
1.3. Members shall, in particular, refrain from misleading statements and
exaggerated claims in their dealings with sellers, buyers and potential
buyers.
1.4. Members shall take all possible steps to avoid conflicts of interests
and shall decline to deal with any transaction where such conflicts arise.
2. Sales
2.1. Members shall, if they are developers or sales agents, make it clear
that they are or represent the Seller of a property. In any other case the
Member must make clear their status and whose interests they represent.
2.2. Members shall always recommend the use of an independent lawyer for
international property transactions.
2.3. Members shall not require potential buyers to sign binding preliminary
purchase contracts without giving them reasonable opportunity to reflect on
the contract and to obtain legal advice. Nothing in this rule shall prevent
a Member securing the immediate signature of a reservation contract or
similar under which a property is removed from the market for a defined
period upon payment of a modest deposit and which does not irrevocably
commit the buyer to the purchase of the property.
3. Legal
3.1. Members shall comply with all applicable local laws, including tax
laws.
3.2. Members shall accept responsibility for all acts of their staff.
4. Relations with AIPP
4.1. Members shall comply with this Code of Conduct and with all rules made
by AIPP.
4.2. Members shall respond promptly to correspondence from AIPP.
4.3. Members shall, upon request by AIPP, provide AIPP with copies of any
document relating to their dealings with any other person or their business
practices which in the opinion of AIPP may be necessary in order to
establish the Member's compliance with his obligations under this code or in
connection with the Dispute Resolution Procedure.
5. Training
5.1. All Members, unless exempted by the Board on the basis of their proven
previous experience, shall within 6 months of being accepted into membership
satisfactorily complete the AIPP Basic Training Course.
5.2. This provision was suspended on 19th March 2009 until further notice:
All Business Members must within 12 months of being accepted into membership
have at least one relevant representative satisfactorily complete the AIPP
country specific training courses relevant to the areas in which they intend
to deal with property.
5.3. This provision was suspended on 19th March 2009 until further notice:
All employees of Business Members engaged in sales activities must, within 4
months of taking up their appointment, pass an internal or external Basic
Training Course approved by AIPP.
6. Dispute Resolution
6.1. All Members shall refer any disputes arising as between Members to the
Dispute Resolution Procedure.
6.2. All Business, Franchisee and Franchisor Members shall at the outset of
their relationship with a seller, buyer or other customer notify them of the
existence of this Code of Conduct and of the Dispute Resolution Procedure.
6.3. If any dispute arises between a Business, Franchisee and Franchisor
Member and any seller, buyer or other customer the Member shall again draw
their attention to the existence of the Dispute Resolution Procedure and
supply them with a copy of it.
6.4. If the seller, buyer or other customer wishes to do so the Business,
Franchisee and Franchisor Member shall agree to invoke and be bound by the
Dispute Resolution Procedure.
7. Applicability
7.1. This Code of Conduct, unless the context otherwise requires, shall
apply to all aspects of the Members’ activities in connection with
International Real Estate including development, marketing, sales, resales,
third party introductions and property management.
7.2. This Code of Conduct shall not limit any greater rights that a non
Member might enjoy under local law or otherwise.