objectives of the NACFB
The National Association of Commercial Finance Brokers was formed in 1993. It operates through an elected Board of Directors and represents Member commercial finance, leasing and factoring brokers throughout the UK.
The Association was formed to:
- establish and promote the highest professional standards amongst its Members;
- establish grievance procedures which can be implemented in the event of disputes between Members and their clients
- preserve the integrity of the Association by preventing unacceptable working practices or conduct amongst its Members
- safeguard its Membership and the public against restrictive practices within the profession
NACFB code of practice
- not seek or acquire business using methods which are, or are likely to be, perceived to be oppressive, dishonest, deceitful, misrepresentative, or in any other manner contrary to the objectives or standards of the Association
- not propose to a potential client terms and conditions for the provision of services which are anything other than fair and reasonable
- use all due diligence, and take such action as is necessary and appropriate, in protecting their clients' interests
- at all times respect (and ensure that staff do likewise) the confidentiality of information supplied to them in the course of their business
- at all times only refer proposals to reputable funders
- give competent advice to clients, having first considered appropriate comparable products on their behalf
