NSDA Code of Ethics
As a member of the National Stamp Dealers Association:
1. I agree to support and be governed by the Bylaws of the National Stamp Dealers Association and such amendments, resolutions and policies as may be adopted. I state by my application that I am a current member in good standing in The American Philatelic Society (APS).
2. I agree to abide by all federal, state, provincial and local laws relating to philatelic matters and acquisition and disposition of philatelic materials. I agree to provide to NSDA a copy of my State Retail Sales tax License, or my State or Country Business License.
3. I agree to conduct myself at all times in a manner that will bring no reproach or discredit to the NSDA, impair the prestige of membership therein, or tarnish the hobby of philately.
4. I agree neither to buy, sell nor deal in any manner in philatelic items of which the ownership is questionable, and further agree to report promptly to the proper law enforcement agencies information concerning any material suspected to be stolen.
5. I agree to assist in the prosecution of violations of which I have knowledge, of laws pertaining to philatelic matters and their acquisition, treatment and disposition and to report promptly to the proper law enforcement agencies any such violation.
6. I agree to correct promptly any error I make in any transaction.
7. I agree to not knowingly sell, trade, produce or advertise repaired, altered or otherwise modified philatelic items unless such condition is clearly stated. I further agree not to sell, produce or advertise counterfeit material in any form in violation of any law.
8. I agree to not misrepresent by word, action, deed, pretense, concealment or in any other manner the retail value, wholesale value or any factor which would adversely affect the value of any philatelic item I offer for sale or which is offered to me to buy.
9. I agree to fulfill all contracts, either oral or written made by me, to make payments promptly or as agreed upon receipt of materials, to ship merchandise promptly upon receipt of orders and return promptly any item that is not satisfactory.
10. I agree that any substitution for or alteration of any philatelic materials in my custody but belonging to another party without prior consent of said party is dishonest and, per se, cause for expulsion.
11. I agree to bring known instances of irresponsible or unethical tactics to the attention of the collector and dealer organizations in which I hold membership.
12. I agree to conduct myself and my business in accordance with accepted standards of morality, integrity and courtesy in all philatelic activities not specifically cited in this Code.
13. I agree that if I am ever adjudged guilty of a felony involving collectibles or if ever I am expelled or asked to resign from any collectors or dealer organization, or if ever I am voluntarily or involuntarily adjudged bankrupt, I will promptly inform the Board of Directors of the National Stamp Dealers Association of that fact.
14. I agree that requests.for extension of time to return purchased or submitted material or make settlements therefore while awaiting expert opinion is not an acceptable reason to delay payment for same. Prompt refund shall be forthcoming from the seller should the material submitted for opinion be deemed other than as offered or described by the seller. Unless otherwise previously agreed, the seller shall also bear reasonable costs for obtaining the opinion if the material is other than as offered or described. If I am the buyer, I will inform the seller immediately after receipt of any expert opinion. Request for extension of time must be in writing.
15. I agree to read, understand and be bound by the "terms of sale" conditions before submitting an auction bid or placing a philatelic order. I further agree that all "terms of sale" of any philatelic transaction of mine shall be made clear to the buyer prior to or concurrent with the transaction.
16. I agree that if I am found guilty of unethical or unlawful conduct by the officers and directors of the National Stamp Dealers Association, the record thereof may be disclosed to other philatelic societies to which I belong.
17. I agree that any dispute in which I am involved concerning a philatelic transaction may be settled by an arbitrator mutually agreed upon by all parties to the dispute.
18. I concur that part of the consideration for membership in the National Stamp Dealers Association is my agreement that the officers and directors of the National Stamp Dealers Association, without any liability to the National Stamp Dealers Association, or to themselves as individuals may expel me after a fair hearing by the Board or by a member of the American Board of Arbitrators if it is determined that I have violated any provision of the Code of Ethics.
19. I agree not to knowingly participate in any way in the advertisement, sale or trade of any philatelic material using deceptive practices including, but not limited to, false or misleading claims of sales, scarcity, value, condition or investment potential.
20. I agree not to represent in any way, including, but not limited to, a prices realized report that a bona fide sale of a philatelic item at a given price has occurred when, in fact, no at arms length change of ownership did occur.
21 . I agree that all provisions of this Code of Ethics shall also apply to all philatelic entities in which I am a principal to any extent.
22. I agree not to evade, circumvent, misrepresent or in any other manner seek to avoid complying with the work, intent and spirit of the provisions of this Code of Ethics, nor attempt to evade, circumvent or misrepresent it in any manner. My acceptance of membership in the National Stamp Dealers Association acknowledges that I fully understand and will comply with all the provisions of this Code of Ethics.