Montreal, 20 May 2019 — Business aviation support services firm ACASS is proud to announce its accreditation by the most prestigious aircraft dealers’ association, IADA (International Aircraft Dealers Association).
The accreditation makes ACASS one of only three percent of aircraft dealers worldwide to have passed IADA’s stringent accreditation procedure. IADA accreditation utilizes a quantifiable, measurable structure administered by an independent third party to ensure professional and ethical behavior within the industry.
“We are delighted to be a part of this world class professional organization,” says ACASS CEO Andre Khury. “Connecting with other IADA members to ensure the highest standards of service and conduct will only help us better serve our global clientele.”
“IADA’s standards for accreditation are, admittedly, very high” says IADA President and CEO Brian Proctor. “This is imperative for aircraft buyers and sellers to have complete assurance in the dealers and brokers we certify. I am happy to say, ACASS epitomizes the professionalism and integrity that merit IADA membership.”
IADA is a professional trade association formed more than 25 years ago. Promoting the growth and public understanding of the aircraft resale industry, IADA now offers the world’s only accreditation program for dealers and the only certification program for individual brokers. The process delivers high standards of business conduct and transparency regarding aircraft transactions, leading to a more efficient and reliable marketplace.
Formed in 1991 as The National Aircraft Resale Association (NARA) when eight of America’s leading aircraft dealers came together to assure aircraft buyers and sellers of the highest level of ethics, experience, standards and trust. Since its conceptualization, the organization has grown to be a worldwide association of more than 100 Aircraft Dealers, Brokers and business aviation product and service companies that do business in over 100 countries.
In 2018, NARA officially changed its name to IADA to reflect its constant presence around the world and international domination of pre-owned aircraft sales. Although a mere 3% of all aircraft dealers have earned an IADA Membership, these dealers constitute to over 60% of all pre-owned aircraft sales globally.
ACASS is a Montreal based worldwide provider of highly customized support services for business aviation. For over 25 years, they have empowered leaders to own their journeys with world-class expertise and best-in-class services, including aircraft sales and acquisition, aircraft management and flight crew staffing.
|For more info about IADA visit IADA.aero. Media Contact Jim Gregory for International Aircraft Dealers Association James Gregory Consultancy llc firstname.lastname@example.org (316) 558-8578||For more info about ACASS visit ACASS.com Zipporah Marmor VP Aircraft Sales email@example.com (514) 636-1099|
Advantages of being an IADA Accredited Dealer
IADA provides a facility for professional standards, ethics and exchange of information among its members and to the public for the purpose of creating a more efficient market, facilitating transactions and providing transparency into the transaction process, thereby increasing business aircraft ownership and usage worldwide.
Accreditation among the world’s leading aircraft dealers establishes consistent standards of behavior so that buyers and sellers of aircraft can be more confident in selecting the professionals and experts who provide them counsel during negotiations and advise them in all aspects of aircraft transactions. Once dealers achieve IADA accreditation, they must maintain that high professional level in order to retain their status.
Accredited Dealers are a select few that have succeeded to
meet rigorous standards that ensure only the most respected and experienced
dealers become IADA Members. Dealers must be re-accredited every (3) years, this
process enhances marketing value for the Dealer while providing customers with
efficient, ethical and effective aircraft transactions.
What does it take to be a IADA Member?
IADA follows a stringent process to access applicants. Applicants must meet the following requirements:
- Be in business for a minimum of 5 years.
- Average a minimum of 10 transactions per year.
- Be recommended by 3 current IADA Dealers.
- Sign the IADA Code of Ethics annually.
- Be approved for Membership by a majority of IADA Dealers
- Have a minimum of 3 Brokers in your firm. At least 50% of your Brokers must achieve IADA Certified Broker status within 12 months of you becoming an IADA Member.
- Agree to list your inventory of aircraft on AircraftExchange.com
- Carry a minimum of $1M Liability and $1M E&O insurance
- Have a non-residential office of a minimum-specified size.
- Complete annual ethics and compliance training.
- After accreditation, agree to retain the following data for five (5) years: 1) Listing/Acquisition Agreement, 2) Aircraft Specifications, 3) Letter of Intent (LOI) and Amendments, and 4) Purchase Agreement and Amendments.
Members must also agree to commit itself to IADA’s strict code of conducting business.
- Shall create and maintain a reputation for honesty, integrity and transparency and shall adhere to the highest ethical standards in their dealings with other Members, their respective clients and all other parties.
- Shall be committed to constantly improving the quality of their services, products, and operations in order to provide a superior level of service, knowledge and value to their respective customers.
- Shall accurately represent their authority to show, demonstrate and sell an aircraft.
- Shall, as expeditiously as possible, submit to the seller all offers received. Once an offer has been accepted, all prospective purchasers, if any, will be informed of the accepted offer.
- In attempting to secure an exclusive listing, shall not deliberately mislead the owner as to the market value of the aircraft.
- When specifically acting as an exclusive agent for an exclusive buyer or seller, shall not accept commission from more than one party to a transaction without the full knowledge of the principal(s) of the transaction.
- Shall compensate, directly or indirectly, employees of the parties to a transaction only with the written knowledge of the subject party.
- Shall present to the best of their knowledge accurate specifications of an aircraft for sale and shall make truthful representations to the public.
- Shall avoid exaggeration, misrepresentation, or concealment of all known pertinent facts relating to a transaction.
- Shall provide a level of competent service in keeping with the highest standards of business and professionalism in the field of aircraft resale.
- Shall reveal their true ownership or interest in any aircraft they represent to the purchaser or his/her representative.
- Shall disclose any interest in other entities whose services they suggest or recommend that a client or owner use and shall disclose any financial benefit they may receive as a result of the use of those services.
- Shall make full disclosure of charges and costs associated with any agreement.
- Shall use reasonable care to ensure that documents pertaining to the purchase and sale of aircraft are kept current through the use of written extensions and amendments.