Code of conduct
- At all times the members will conduct business in a fair and honest way in all dealings and in particular with companies seeking investment, investors, and other BANs.
- Members will develop their activities in a professional way and will not be associated with wrongful or illegal practices or parties that may damage the reputation of Business Angel Networks
- Members will not allow Investors to enter their network if they suspect the monies available for investment to be of questionable origin.
- A legal contract must be entered into between the member and any Investee or Investor that he assists. The contract must specify any fees that are payable to the member.
- When an Investee enters into a contract with a member he must provide an executive summary and business plan in a format that can be circulated to the members Investors. These details must not be circulated to others without the written agreement of the Investee.
- To ensure impartiality members will not have an active involvement in the Investee company but may have a maximum shareholding of 5% that can be taken by the member as remuneration for work undertaken. Agreements in this respect must be detailed in the contract mentioned in point 4 above.
- All members must operate on a professional way and not be influenced by a prospective success fee.
- Members will do their utmost to ensure that information they receive will be treated confidentially and will take steps to ensure that it remains so and is not divulged to other parties without the authority of the Investee or investor as appropriate.
- Full members will be required to provide on an annual basis a contribution to the EBAN Directory of Networks and Statistics Compendium, concerning the characteristics and performance of their group/organisation.
- All fees that are charged to the Investors and Investees must be disclosed by the member before any contract is entered into. This to include registration fees, success fees, and fees for other services provided by the member.
- Members must advise and seek agreement from Investors and Investees before discussing opportunities with other networks. If opportunities are introduced to other networks any sharing of fees must be formally agreed by the networks and advised to clients of both organizations.
- Members who are not formally regulated to give advice and are purely facilitators between Investors/Investees must advise both Investors and Investees that they are unable to give advice on the suitability of prospective Investors/Investees and that each must carry out their own due diligence.
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Agenda
| Wed Mar 17 @12:30 - / Madrid, Spain 2009 Global Entrepreneurship Monitor |
| Thu Mar 18 @12:00 - 03:00 / Paris, France 1st Breakfast meeting France Angels |
| Fri Mar 19 @08:30 - 06:30 / Montpellier, France Montpellier Prospectives Capital Risque |
