CODE OF ETHICS
The Code of Ethics set out below is designed to cover the any growth of waiVISTA that may take place. The phrase Now or in the Future is designed to cover this. Currently this phrase should be read in the singular.
In this Code the word member means unless the context otherwise requires a member of the waiVISTA Group of companies; the word “client” means a client, subscriber, customer or member of a waiVISTA Group Company; the word association means the Associated Group of waiVISTA Companies. Now or in the future.
Each member of the Group now or in the future agrees that in its dealings with the public and with fellow members of the Group now or in the future will at all times maintain the minimum standards set out in the code below that is to say:
PART I – GENERAL
1. EACH member shall:
(a) Maintain a high standard of business principles and never be guilty of conduct which will bring reproach upon waiVISTA Group of Companies.
(b) Comply with all statutes, regulations and by-laws relating to the ownership and operation of a Credit Reporting and Debt Collection business and provision of debt collection services.
(c) Do business under a designation or business name or identification that does not mislead creditors, debtors or the general public into believing that it is some other type of business than it is.
(d) Ensure that all personnel are familiar with the laws under which the collection business is operated, the rules and regulations, code of ethics and any other codes which apply to them and ensure that all personnel fully respond to and comply with such requirements.
(e) Delegate assigned tasks only to trained personnel.
(f) Never knowingly misrepresent an institution or organisation with which it is affiliated nor knowingly represent that it is affiliated with institutions or organisations when such affiliations do not exist.
(g) Take adequate precautions to distinguish between its professional views and actual Legal advice.
(h) Not discriminate on grounds of race, colour, creed or national origin in the selection of clients it represents or in dealings with debtors.
(i) Maintain a sufficiently strong financial position so as reasonably to assure its continued operation.
(j) Keep confidential the source of any enquiry or information obtained from members or clients unless permission is given from that source to divulge the same.
PART II – COLLECTION AND STORAGE OF CREDIT INFORMATION
2. Personal Information must be collected for a lawfull purpose. IN gathering information in respect of persons or organisations no member shall seek information from any source other than information which:
(a) Is readily available to the public upon enquiry or through published reports or
(b) Is collected directly from the individual concerned or
(c) Is made available to waiVISTA through its (The Associations) activities as Debt Collectors and Repossession Agents
3. ANY member seeking information shall confine its enquiry to matters of fact or pertinent opinion, no opinion information should be sought unless there are reasonable grounds for believing that the person offering the opinion has some expert basis for such opinion.
4. NO information other than debts and repossessions handed to waiVISTA shall be recorded unless such information is collected with the knowledge of the individual concerned.
5. ALL information stored by any member shall be readily available to any other member upon request and no member shall withhold any requested information from any other member nor shall it attempt to withhold material information with respect to any enquiry made of it.
6. ANY member from whom an enquiry is made may if it considers information to be of a sensitive or confidential nature transmit the same for the eyes of an executive officer only of the requesting member or client.
7. IN its dealings with the public each member shall be under an obligation not to release information to any person or organisation which is not a bona fide client of the member to which such enquiry is addressed and such information shall be released only to the person or organisation making the enquiry or to its officers or responsible executive.
8. NO member shall knowingly permit a person or organisation which is not of good repute to have access to information available from its records nor shall the member accept such a person or organisation as a client.
9. NO information shall be released by any member to any person except under a contractual obligation so to do provided, however, that when any member is aware that a person having a bad credit reputation has moved into the district of any other member the member first mentioned shall be at liberty to disclose to the second member the fact that such person has so moved and all relevant details concerning him and may supply such information without any prior request.
10. WHERE enquiry is made of any member the only information which shall be conveyed to the enquirer shall be that information which is stored or which is intended to be stored as a result of having been gathered consequent upon the enquiry of question.
11. IT is unethical for any member to use any motor vehicle on which its name or any other writing advertising its business is prominently displayed other than the members name in letters not higher than two inches.
PART 111 – DUTIES TO CLIENTS
12 EACH member shall:
(a) Provide an efficient and effective service in the territory which it claims to serve.
(b) Always protect the interests of clients and give prompt and diligent attention to all matters received.
(c) Follow all instructions given by clients in the processing of an account, or promptly give reasons for not doing so, and seek further instructions.
(d) Pay into a separate Trust Account all monies received from collections, and account to clients regularly in respect of the same and not use any monies in such Trust Account for its private or business purposes, PROVIDED HOWEVER, that after a proper statement of account has been rendered to a client, costs properly rendered may then be transferred from such Trust Account to the members ordinary working account.
(e) In collection of accounts give preference wherever possible in an order of priority as established by the receipt of accounts (where a number of accounts against the same debtor have been delivered for collection) unless it is necessary to do otherwise to prevent some account from becoming statute barred or unless the debtor stipulates that payment be applied to certain accounts, PROVIDED HOWEVER, that if a client supplied material information or assistance by reason of which the collection was made possible, then such client shall receive preference.