Code of Ethics

Like any other profession, credit management benefits from a code of ethics describing or defining professional conduct. One such code of ethics is shown below:

1. Justice, equity, and confidence constitute the foundation of credit administration.

2. Agreements and contracts reflect integrity and should never be breached by either party.

3. The interchange of credit information must be based upon confidence, cooperation, reciprocity and confidentiality.

4. It is deemed unethical to be a party to unwarranted assignments or transfers of an insolvent debtor's assets, nor should creditors participate in secret agreements.

5. Creditors should cooperate for the benefit of all in adjustment or liquidation or insolvent estates or companies.

6. Creditors must render all possible assistance to honest debtors who become insolvent.

7. Dishonest debtors must be exposed and referred to the authorities.

8. Cooperation, fairness, and honesty must dominate in all insolvent debtor proceedings.

9. Costly administrative procedures in the rehabilitation or liquidation of an insolvent debtor shall be avoided at all times.

10. Members pledge themselves to uphold the integrity, dignity, and honor of the credit professional in all their business dealings.

Source: National Association of Credit Management of South Texas Inc.