As broker members, funding source members, associate members and honorary members of
the NAELB, we ascribe to the following Code of Ethics and pledge ourselves to the word and
principal of this Code:
1. We will demonstrate honesty, professionalism and integrity in all our relationships and
business dealings with customers, fellow members, the public, equipment vendors,
licensed professionals, other brokers, and our funding sources. 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, always conduct our business dealings so as to reflect
a positive image upon our profession and the NAELB.
2. We will be mindful of our obligations with respect to funds remitted by customers.
Specifically, we acknowledge that in order for funds remitted by customers to be
earned, we must provide goods, services or value to the customer in exchange for those
3. We will communicate as soon as it becomes known to us all information germane to our
funding sources where such facts may impact a funding source’s credit evaluation of a
proposed customer. We acknowledge that as brokers, we are responsible for sharing all
information known to us regarding all aspects of a proposed transaction with our
4. 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 a business transaction.
5. When we are asked for legal, accounting, tax or any other similar professional advice,
we will always qualify our advice to the individual with whom we are speaking to ask the
same question of a duly licensed and qualified professional.
6. We shall cooperate with our funding sources on all issues reasonably required by a
funding source for completion of a transaction, including but not limited to all issues of
documentation as a funding source shall require.
7. We will deal with our funders in a manner which respects the value of their time and
financial commitment. We will use our best efforts to submit proper and complete
applications in accordance with the requirements of a funding source.
8. Funding source members agree that they will not circumvent the broker in any
transaction in which a broker refers a transaction which would otherwise entitle the
broker to a commission.
9. We will strive to enhance our professional education and keep ourselves informed of
new developments in our industry.
10. 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