Ethically Speaking - May 2009

Since our last Ethics Update, two non-member companies were banned from Tradeloop.

Nazims Continental was banned for failure to ship goods after payment was received. Alken (HK) Trading Co. was banned for shipping counterfeit product and refusing to refund the purchase price.

One complaint was closed with no action taken after the complainant failed to respond to requests for information. We want to remind members that that the Ethics Committee is composed of volunteers. Filing a complaint and failing to follow through wastes the committee's time and reflects badly on the complainant.

Our two new cases have an unusual twist: both are between Tradeloop members! The majority of Ethics cases are filed by members against non-members. That's why we encourage members to seek out other members first when looking to make deals. Our careful member screening process helps keep fraudulent companies out of the trading community.

In one new case, the complainant alleges that the defendant failed to pay for goods after product was received. That case is being prepared for Ethics Committee review. The second case alleges non-payment and failure to complete the purchase agreement. That case will go forward when the defendant responds to requests for information.

Please remember that participation in the Ethics process is not optional for Tradeloop members. It's part of your membership agreement, and members who fail to participate can be banned from the Tradeloop community.

Visit the Tradeloop Ethics area to read more about Ethics cases and the Ethics process.