Code of Conduct

IAED Members are responsible for Moral and Ethical Values of conduct.

IAED believes in the "Rule of Law" and does not tolerate behavior of its Members which violates any national or international law. IAED Members are accountable for their own behavior. IAED is not responsible for its Members behavior and will dismiss any Member for misconduct or violation of any law; local, national or international which negatively reflects on the Agency.

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"Principles For Business"

- Caux Round Table

Section 1. "Preamble"

Section 2. "General Principles"

Principle 1 :
The responsibilities of businesses: beyond shareholders toward stakeholders
Principle 2 :
The economic and social impact of business: toward innovation, justice and World community
Principle 3 :
Business behavior: beyond the Letter of Law toward a Spirit of Trust
Principle 4 :
Respect for rules
Principle 5 :
Support for multilateral trade
Principle 6 :
Respect for the environment
Principle 7 :
Avoidance of illicit operations

Section 3. "Stakeholder Principles"

This is the first international Ethics code for business. The goal of the
Caux Round Table principles is to set "a world standard against which
business behavior can be measured," a yardstick which individual companies
can use to write their own codes.

The base principles are rooted in two basic ethical ideals: kyosei and human
dignity. The Japanese concept of kyosei means living and working together for the
common good - enabling cooperation and mutual prosperity to coexist with
healthy and fair competition. 'Human dignity' refers to the sacredness or
value of each person as an end, not simply as a means to the fulfillment of
others' purposes or even majority prescription.

The General Principles in Section 2 seek to clarity the spirit of kyosei and
'human dignity' while the specific Stakeholder Principles in Section 3 are
concerned with their practical application.


The mobility of employment, capital, products, and technology is making
business increasingly global in its transactions and its effects.

Laws and market forces are necessary but insufficient guides for conduct.

Responsibility for the policies and actions of business and respect for the
dignity and interests of its stakekolders are fundamental.

Shared values, including a commitment to shared prosperity are as important
for a global community as for communities of smaller scale.

For these reasons, and because business can be a powerful agent of positive
social change we offer the following principles as a foundation for dialogue
and action by business leaders in search of business responsibility. In so
doing we affirm the necessity for moral values in business decision making.
Without them, stable business relationships and a sustainable world
community are impossible.


Principle I. The Responsibilities of Businesses:
Beyond Shareholders Toward Stakeholders

The value of a business to society is the wealth and employment it creates
and the marketable products and practices it provides to consumers at a
reasonable price commensurate with quality. To create such value, a
business must maintain its own economic health and viability, but survival
is not a sufficient goal.

Businesses have a role to play in improving the lives of all their
customers, employees, and shareholders by sharing with them the wealth they
have created. Suppliers and competitors as well should expect businesses to
honor their obligations in a spirit of honesty and fairness. As responsible
citizens of the local, national, regional, and global communities in which
they operate, businesses share a part in shaping the future of those

Principle 2. The Economic and Social Impact of Business: Towards
Innovation, Justice and World Community

Businesses established in foreign countries to develop, produce or sell
should also contribute to the social advancement of those countries by
creating productive employment and helping to raise the purchasing power of
their citizens. Businesses also should contribute to human rights,
education, welfare, and vitalization of the countries in which they operate.
Businesses should contribute to economic and social development not only in
the countries in which they operate, but also in the world community at
large, through effective and prudent use of resources, free and fair
competition, and emphasis upon innovation in technology, production methods,
marketing and communications.

Principle 3. Business Behavior: Beyond the Letter of Law
Toward a Spirit of Trust

While accepting the legitimacy of trade secrets, businesses should,
recognize that sincerity, candor, truthfulness, keeping of promises and
transparency contribute not only to their own credibility and stability but also
to the smoothness and efficiency of business transactions, particularly on the
international level.

PRINCIPLE 4. Respect for the Rules

To avoid trade frictions and to promote freer trade, equal conditions for
competition, and fair and equitable treatment for all participants,
businesses should respect international and domestic rules. In addition,
they should recognize that some behavior although legal, may still have
adverse consequences.

PRINCIPLE 5. Support for Multilateral Trade

Businesses should support the multilateral trade systems of the (GATT/World
Trade Organization and similar international agreements. They should
cooperate in efforts to promote the progressive and judicious liberalization
of trade, and to relax those domestic measures that unreasonably hinder
global commerce, while giving due respect to national policy objectives.

PRINCIPLE 6. Respect for the Environment

A business should protect and, where possible, improve the environment,
promote sustainable development, and prevent the wasteful use of natural

PRINCIPLE 7. Avoidance of Illicit Operations

A business should not participate in or condone bribery, money laundering,
or other corrupt practices: indeed, it should seek cooperation with others
to eliminate them. It should not trade in arms or other materials used for
terrorist activities, drug traffic or other organized crime.



We believe in treating all customers with dignity irrespective of whether
they purchase our products and services directly from us or otherwise
acquire them in the market, We therefore have a responsibility to:


We believe in the dignity of every employee and in taking employee interests
seriously. We therefore have a responsibility to:

Owners/Investors (Members/Contributors)

We believe in honoring the trust our investors (members-contributors) place in us.
We therefore have a responsibility to:


Our relationship with suppliers and subcontractors must be based on mutual
respect. We therefore have a responsibility to:


We believe that fair economic competition is one of the basic requirements
for increasing the wealth of nations and, ultimately for making possible the
just distribution of goods and services. We therefore have a responsibility to:


We believe that as global corporate citizens, we can contribute to such
forces of reform and human rights as are at work in the communities which we
operate. We therefore have a responsibility in those communities to:


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