The International Automotive Remarketers Alliance (IARA), a national organization established to facilitate and foster cooperation, communication and commonality of purpose among professionals involved in remarketing used vehicles, has adopted a Code of Ethics & Business Conduct to ensure that all of its members adhere to the highest ethical standards and business conduct. The Code applies to both Institutional Members and Industry Members. Institutional Members are defined as owners of automotive products such as manufacturers, captive finance companies, bank/financial institutions, vehicle leasing companies, commercial fleets, and car rental companies. Industry Members include industry vendors, suppliers, and service providers.

The newly adopted standards include:

• Avoiding situations that represent clear conflict of interests or misrepresentations in managing the portfolio remarketing process.
  

• For Institutional Members, avoiding the implementation or perception of business practices, with vendors, that are based solely on gratuitous allocation of vehicle distribution.
  

• For Industry Members, refraining from business practices that encompass gratuitous solicitations that might compromise or give the perception of compromising an accredited business relationship.
  

• Adhering to financial responsibility and generally accepted accounting practices in vehicle sale transactions.
  

• Adhering to all applicable laws and government regulations of commerce in vehicle sale transactions.
  

• Promoting a viable industry through interaction with employees, associated entities, and the surrounding community.
  

• Interacting with other IARA members and other entities of the automotive community with business dignity, honesty, and respect. IARA member interactions with other entities of the automotive community should be conducted with the highest degree of business dignity, honesty, and respect.
  

• Exhibiting solid corporate citizenship, and not engaging in activity that would bring disrepute to the IARA or to the vehicle remarketing industry.