The Trust Standard
What members commit to
One simple rule, written down in public: the benefit of spending someone else's money belongs to them, and nobody is paid in secret to choose.
The principle
When you spend another person's money, you act for them. Every discount, rebate or benefit that comes from spending it is theirs, and everything you are paid in connection with it is disclosed to them and agreed. Commission is not the problem. Secrecy is. Read the test: commission or kickback?
Suppliers and vendors
The supplier commitment
- We do not pay, offer or promise hidden commissions, kickbacks, gifts or other benefits to anyone, in return for choosing us when they are spending someone else's money.
- We do not ask for, or accept, any such benefit from our own suppliers.
- Where a commission is lawful and agreed, such as a broker's commission written into a contract, we do not hide it from the person whose money it is.
- We will not use hospitality, favours or pressure to change a decision-maker's judgement.
- We have, and follow, a written anti-bribery policy, our staff are trained on it, and we will show it to anyone who asks.
Brokerages and management companies · draft
The intermediary commitment
This is a first draft. We want to write it with brokerages and management companies, not for them, so that it is realistic and it works. If you want to help, tell us.
- We tell the client, in writing and in advance, about every commission or fee we receive in connection with their money.
- Any discount, rebate or benefit from a supplier belongs to the client whose money was spent, and is passed on and shown.
- Neither the firm nor anyone who works for it takes a personal benefit for placing an order.
- We have a written anti-bribery policy that is trained, checked and enforced, and a safe way for staff to raise concerns without retaliation.
- If a supplier asks us to take part in a hidden arrangement, we say no and we record it.
Crew, captains and heads of department
The personal pledge
- I take no personal benefit for choosing a supplier with someone else's money.
- I pass on to the owner or charterer every discount or rebate I am offered, and I keep records.
- If I am offered a payment or gift in return for an order, I decline, and I report it, even if I turn it down.
Offered a bribe, even if you refuse it? Here is what to do and why you should report it.
How it works, and how it is kept honest
- A director signs. The commitment is made by a named person with the authority to make it, from a company email address. That is what makes it public and personal.
- A policy, training and records. Members adopt a written policy (our free template will do), train their people and keep a register of gifts and requests.
- A public register. Members are listed by name, with the date. Listing is by consent only. See the register.
- Renewal every year. A director re-confirms. If a renewal is missed, the listing lapses and disappears.
- Concerns are looked at. If we are told a member has broken the commitment, with evidence, we look into it, and we may remove the listing. Anyone can raise a concern privately.
- The standard is versioned and written in the open. Members, management companies, owners and others can propose changes. Each version is dated and published.
What membership is not
- It is a public commitment. It is not an audit, a certification or an endorsement, and we do not inspect members' books.
- It is not legal advice, and it is not a guarantee about how any member behaves. It tells you what they have promised, in public, so you can hold them to it.
- Not being a member proves nothing. Membership is voluntary and the register is new.
- It does not buy a position. A fee, where one applies, never affects who is listed.
Read the terms and the disclaimer.