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Leasing association to create code of ethics

The Hungarian Leasing Association is working on a code of ethics that would regulate its members’s ethical market activity, said the association in a recent release.

The Hungarian Leasing Association is one of the first to take definite steps about the regulation of the market and and the improvement of service quality given to customers. Besides its existing fleet financing code the association is working on a code of ethics for the companies offering equipment, real estate and commercial vehicle financing.

The code is being prepared with the clients in mind, obligating leasing companies to keep themselves to the highest standards and to offer the most secure services. It also specifies fair and responsible business activity, financial stability, professionalism and the publishing of realistic information in advertising. In case of a complaint the code obligates members to create a so called "conciliatory service" aiming to resolve complaints fast and effectively.

"Leasing companies that comply with the basic principles of the code can use the approved brand of the association. It is supposed to help clients decide which company to choose when they want quality service," Zoltán Hordós, chairman of the association.