UK Boat Retailers & Brokers Association's code of practice
A new clause has been added to the UK Boat Retailers & Brokers Association (BRBA) code of practice regarding the handling of customers' monies. The updated guidance, which was issued by the British Marine Federation (BMF), stipulates that all UK brokerage firms that are BMF members must now have a separate client account in which to hold clients' monies during the brokerage process.
The new clause is designed to "increase the robustness of the system, boost consumer confidence and help promote the use of brokerage to buy and sell boats." "This new system follows a lengthy period of discussion about how we might best strengthen the trust of consumers and once again helps promote brokerage as an attractive option for buying and selling second hand boats," says Boat Retailers & Brokers Association chairman Dominic Smulders. "I am confident that the updated code will help both industry and buyers do business in confidence."
The deadline for adherence to the new code is June 19, 2008, and failure to comply will result in the loss of British Marine Federation membership. The British Marine Federation is the trade body for the UK marine industry, representing British interests both at home and abroad. It has 1,600 members representing an industry employing more than 35,000 people in the UK. Boatmatch are members of the British Marine Federation and Simon Walworth is a serving member on the Boat Retailers & Brokers Association (BRBA) committee.
Boatmatch were closely involved in developing the new BRBA Code of Practice. Boatmatch.com will shortly be putting a link off our home page with details of the new Code of Practice. If you wish to receive a copy you are welcome to email [email protected] with the header 'please send copy of code of practice'. Simon Walworth Sales Director Telephone: + 44 (0)1725 514466 Skype: boatmatch Facsimile: + 44 (0)870 135 7065 Mobile: + 44 (0)7855 787561 www.boatmatch.com
