Section 1
General Regulations
1. Member of LANIDA shall follow the internal rules of the association, and it shall fulfill its own tasks skillfully, honestly, trustfully, and accurately by working according to its greatest abilities in the interests of a customer.
2. In situations when a member of LANIDA itself cannot provide professional service to the customer due to any reason, it shall advise another member of LANIDA to settle the interests of a customer.
3. A member of LANIDA shall not favor unfair competition among members of LANIDA. The member shall perform its duties to avoid professional conflicts with other members of LANIDA.
4. A member of the LANIDA has sufficient and specific knowledge into the issues that it undertakes to help with. In case it has not sufficient knowledge in certain issues it shall advise a customer to consult a respective expert or it shall consult itself.
5. A member of LANIDA shall observe confidentiality related to information it obtained during its work, and shall respect immunity of personal life of customers, financial condition of persons involved in transactions, and other confidential information.
6. A member of LANIDA shall have an obligation to follow the laws of the Republic of Latvia.
Section 2
Relations with Society
7. Obligation of a member of LANIDA is to keep its professional status and to acquire new experience and knowledge in order to provide professional services.
8. A member of LANIDA in its professional work shall not discriminate its potential customers because of its sex, race, color of skin, language, religion, political views, nationality, ethnical origin, or for any other reason violating human rights.
9. A member of LANIDA is not allowed to use maliciously incompetence, health condition, or any other feature of a customer in order to acquire wealth.
10. A member of LANIDA endeavors to make and maintain good relations with other professionals and third persons it is contacting in its work. It respects professional independence of each person.
Section 3
Relations with Customer
11. If a member of LANIDA is involved in discussions with more than one potential customer in a certain real estate transaction, it shall inform all involved parties.
12. A member of LANIDA shall make and maintain good relations with other members. It shall refrain from unfair competition and shall not create a harmful impression about other members.
13. Members of LANIDA shall solve disputable issues in a professional way by justifying their opinion, and trying to reach reasonable and acceptable solution.
14. A member of LANIDA shall not distribute deliberately or accidentally any false information about competitors, their work and issues.
15. A member of LANIDA shall refrain from making judgment about the work of other members, and if it shall find out that a certain transaction is assigned to another member, it shall refuse to take it over until the customer has its commitments unsettled toward the colleague (in a case of exclusive agreement).
16. Members of LANIDA A have an ethical duty to support each other. They shall refrain from any unfair or malicious activities, and they shall work in a way of fair competition. They shall not participate in activities in order to doubt or harm status of other members.
17. A member of LANIDA shall have a duty to provide complete and true information about the transaction where the customer has involved a member.
Section 4
Responsibility
18. All disputes related to violation of the Code of Ethics of LANIDA and which cannot be solved by negotiations among the members, shall be solved by the Arbitration Commission LANIDA based on application by a party involved in a dispute.
19. If any party is not satisfied with decision by the Arbitration Commission, it shall bring the issue to the court pursuant to the laws of the Republic of Latvia, or in case if there is an agreement between the parties about an arbitration, then they bring the issue to the Arbitration Court.
Approved by the Meeting of the Members
of the Association on 22nd April, 2004
