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Professional shipbroking ethics

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Professional shipbroking ethics. BIMCO publishes "Recommended Principles for the Use of Parties Engaged in Chartering and Ship's Agency Procedures" and the Baltic Exchange also publishes a "Code of Ethics".

Extracts are given below from these documents. It must be clear that in chartering practice, a correct and honourable set of business principles and rules of conduct are essential whether an owner's shipbroker, charterer's agent or even the principals themselves are involved in transactions, in order to avoid maritime fraud and legal liability that can result from unethical behaviour.

 

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