Introducing: The NACFB Patrons Charter
We are delighted to announce the introduction of the NACFB Patrons Charter. The Charter, produced in consultation with lenders, outlines the professional expectations that come with NACFB Patronage.
NACFB Brokers already adhere to the NACFB Code of Practice which establishes a set of principles and professional standards for intermediaries in the commercial finance sector. The Association supports brokers on their compliance with this Code through the use of a ‘Minimum Standards’ scorecard.
Whilst a Patrons Code of Practice would be inappropriate, we have launched the Charter and will ask all Patrons to acknowledge its content as part of their involvement with the NACFB.
The objective of the Charter is to formally recognise that the aim of any collaboration between NACFB Brokers and Patrons is to maintain and promote business relationships for the mutual benefit of client firms.
The Charter forms part of our efforts to promote the advancement of professional standards throughout the wider commercial finance industry by:
- Encouraging professional and social interaction between Brokers and Patrons
- Encouraging brokers to consider the products and funding options of Patron firms when appropriate to meet the needs of their clients
- Achieving recognition by Government, lenders, other professional bodies, the business community and the public, of the strength of this collaboration and mutual professional standards
The NACFB Patrons Charter
Patrons acknowledge the provisions of the Constitution of the Association:
- Patrons acknowledge the NACFB Code of Practice which lays out the framework under which brokers are expected to conduct their business.
- Patrons recognise that the NACFB logo is a marque that stands for integrity, professionalism, conduct and practice that is expected of the Association’s Patrons and Members for the further protection of the consumer.
- Patrons recognise the importance of conduct in the market place and the standards expected by regulators and the context of this in building robust reputations as well as SME and consumer confidence.
- Patrons recognise the benefits of appropriate levels of due diligence when it comes to accepting introductions from intermediaries, understanding the regulatory requirements of this activity.
- Patrons recognise the benefits of an open and honest relationship with the Association and its Members as well as the appropriate regulatory bodies.
- Patrons recognise the benefit of dealing with brokers and clients with the utmost good faith and with a standard of competence, fairness and courtesy.
- Patrons recognise the value of training and education and whenever possible contribute to the raising of professional standards in the commercial finance sector.
- In becoming a Patron of the NACFB you are prepared to adopt and uphold this charter.