STANDARD OF CONDUCT IN DEALING WITH CLIENTS

July 05, 2018 by Alex Estrin

I would like to share with you the Business Brokerage Standards that I follow.

When dealing with clients, a Business Broker should: 

• pledge to protect and promote the best interests of the client,
• perform all services with integrity, honesty, care, good faith and fair dealing,
• seek to obtain reliable information,
• maintain confidentiality of client’s proprietary information,
• obtain terms and conditions of agreements in writing,
• be willing to take the necessary steps to complete an assignment competently or decline the engagement.

 

When dealing with clients, Business Brokers should: 

• offer the client objective advice, opinions and recommendations,
• advise the client to make full disclosure, where appropriate, to prospective buyers of all information which may materially impact the transaction,
• conduct all negotiations on behalf of the client in good faith,
• keep the client informed of the status of all negotiations,
• work with client’s other professional advisors to structure a transaction in the client’s best interest,
• maintain a record of contacts with clients and customers,
• keep informed of trends in the transfers of business ownership interests such as: marketing techniques, national and local economic conditions, technological developments, financing methods and market values.

 

This code of conduct was created by the International Business Brokers Association.