The International Aircraft Dealers Association (IADA) is accepting applications through the end of July for dealer accreditation, the brokers group announced today. Eligibility for accreditation requires that a dealer has at least three brokers on staff, been in business for a minimum of five years and averages at least 10 transactions annually. Three IADA-member firms must also recommend the applicant firm.
Additionally, candidate firms must sign annually the IADA Code of Ethics, list their inventory on the Aircraft Exchange website, maintain sufficient liability and errors and omissions insurance, and complete ethics and compliance training on a yearly basis.
Membership approval is based on a process that includes feedback from the three sponsors and the organization’s broader membership as well as review by the IADA membership committee and board of directors. Because of the lengthy review process, applications are accepted two times during the year: before its fall meeting at NBAA-BACE and before its spring meeting. Member firms are reaccredited every three years.
"No doubt, IADA's minimum requirements are extremely rigorous and by design are the reason that the organization is now driving the aircraft transaction industry to the highest standards, which are in the very best interests of aircraft buyers and sellers," IADA executive director Wayne Starling said.