Code of Ethics

PURPOSE

The Association of Ship Brokers and Agents (U.S.A.), Inc. purpose is to advance and foster ideals and standards of personal and professional conduct and practices, to inculcate just and equitable principles among those engaged in the trade, to define customs of the business, to establish and maintain uniformity in commercial usages, to adjust controversies and misunderstandings, and to promote the common interests of those business establishments which are engaged in business as ship brokers and agents.

The officers, partners and associates of each member firm of this Association are firmly pledged to the following principles in the conduct of their brokerage and agency business.

CODE OF ETHICS

1. In the conduct of his profession, a member shall exercise great care to avoid misrepresentation and shall be guided by the principles of honesty and fair- dealing.

2. A member shall be diligent at acquainting himself with market conditions and shall keep his principal accurately informed thereof

3 A member shall always assist – never hinder – principals in reaching and performing an agreement, always rendering his best efforts and using his best judgement on their behalf.

4. A member shall handle all proposals accurately and expeditiously.

5. When acting as a broker, he shall not make decisions for the principals unless so authorized by them; and when negotiating on a standard or well-known form of charter party, a member shall advise the principals of any deviation from the usual form.

6. The member’s responsibility as a ship’s agent is to protect the ship’s interests at all times.  The ship agents will make every effort to manage the ship’s call efficiently.

7. Each member agrees to inculcate his organization with the principles set forth herein, for it is recognized that only by their observance will the standards of personal and professional conduct be advanced, and the practice of ship brokerage and agency continue to inspire confidence as an essential and effective part of the shipping industry.

As adopted December 16, 1949

 Amended June 23, 1981 and February 3, 2011

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