The International Aircraft Dealers Association (IADA) will accept applications for its new dealer accreditation process until Friday a part of its push to raise the standards of broker conduct and increase transparency in aircraft transactions, the organization announced this week. “We already have 30 new companies interested in applying for this new program, which covers existing IADA members and those who want to become accredited,” IADA chair Brian Proctor said.
IADA’s board of directors will oversee the approval of applications for accreditation, which the group said will be accomplished through an independent accrediting process. To be accredited, an aircraft dealer must have five consecutive years of business activity and “the capability of representing a variety of customers and industry stakeholders…and must be considered a reputable organization within the aviation industry,” IADA said. Dealers also must meet certain size and volume standards, the association added.
Founded more than 25 years ago as the National Aircraft Resale Association, the recently renamed IADA represents the 3 percent of aircraft dealers worldwide that in 2017 represented 60 percent of used aircraft sales volume by revenue.
IADA also launched its AircraftExchange website, which lists the business aircraft for sale by its broker members, this week.