RESIDCO is an active member of the following industry associations and abides by their respective codes of ethics:
Equipment Leasing & Finance Association
The Equipment Leasing and Finance Association is a national organization comprised of more than 850 member companies within the equipment leasing and finance industry.
The ELFA exists to promote and represent the general interests of the equipment leasing and finance industry, provide programs of benefit to the industry and its members, provide information, education and communications to the membership and the public, lead in the resolution of general industry problems, and promote high standards of business practice within the industry.
Click to view the ELFA Code of Fair Business Practices.
International Society of Transport Aircraft Trading
The International Society of Transport Aircraft Trading was founded to foster and promote interest in the principles and development or aeronautics, and to provide a forum for improved communication among those that engage in activities related to transport category aircraft.
ISTAT establishes and promotes standards for many aspects of the purchase or sale of commercial transport aircraft, including appraisals and a code of ethics.
ISTAT Code of Ethics
It is felt by all members of our Society that we promote among our members and those employed in our business, the highest ethical standards. To that end, the following creed is hereby adopted for all members:
- In all transactions involving the conveyance or financing of aircraft, the members shall always endeavor to deal honestly and fairly with all parties.
- When a member is involved as a third party, separate from the Buyer and Seller (or Lessor or Lessee), the member shall at the earliest possible moment disclose to both parties his interest in the transactions and which party (Buyer or Seller) he is representing.
- All agreements for fees for a member acting as a third party in an aircraft transaction shall be in writing and shall be signed by the member and by the principals.
- All aircraft appraisals by a member, which are used, should be in writing and should be signed by the member.
- Where there is potential or actual conflict of interest by a member acting as a party to a transaction involving aircraft (including appraisals), the member should immediately disclose the nature of such conflict, in writing, to the concerned parties.
- A member shall only represent an aircraft for sale or lease by the member with the prior written consent of the owner, lessor or lessee, as applicable.
- A member shall appraise an aircraft only when the member is properly qualified to render an opinion on the particular aircraft.