This Code of Ethics has been created by the Association of Developers z.s. (“the Association”) to ensure a high ethical standard of conduct for all those involved in property development activities in the Czech Republic. The Code of Ethics applies to all members of the Association. The Code of Ethics applies to all aspects of the activities of members of the Association in relation to real estate, including development activities, marketing, sales, resale, third-party presentations and property management, unless the context requires otherwise. The existence of this Code of Ethics and its compliance may be announced by both the Association and its members. All existing and new members are required to sign a declaration of compliance with the Code of Ethics as a condition of joining the Association.

General rules

1. Members shall adhere to the highest principles of honesty and professional integrity in their dealings with customers and suppliers, as well as with each other.
2. Members shall act honestly and honestly in their dealings with government authorities and shall comply with administrative procedures and applicable laws.
3. Members shall demonstrate by their actions that they fully respect the rights of local communities, owners and residents of properties adjacent to sites where construction is or is to be carried out.
4. Members shall conduct their dialogue with the public with honesty and dignity.
5. Members shall take all necessary steps to avoid conflicts of interest and shall refuse to enter into any transaction where such a conflict of interest would arise.
6. Members shall strive to raise awareness of international standards of urban design, planning and construction.

Compliance with legal standards

1. Members are required to comply with all applicable local laws, specifically labor, safety, environmental, anti-corruption, and competition laws.
2. Members are required to respect the United Nations Universal Declaration of Human Rights and accept responsibility for upholding the rights of their employees and the communities in which they operate.
3. Members are required to respect Principle 10 of the United Nations Global Compact on Anti-Corruption and Bribery.
4. Members will accept responsibility for the actions of all their employees and representatives.
5. Any member who seriously violates this Code of Ethics will be expelled from the association.

Marketing and business practices

1. Members must clearly state their position and whose interests they represent.
2. In particular, Members are required to refrain from unfair advertising, misleading statements and unbalanced claims when dealing with buyers and potential buyers.
3. Members are required to always recommend the use of independent legal representation in real estate transactions.
4. Members will not require potential buyers to sign pre-purchase agreements without giving them sufficient time to review the agreement and consult with a lawyer.

Member statement

As a member of the Developers Association, I hereby declare that:

1. I have read and understood the Code of Ethics of the Association of Developers z.s.;
2. I will follow the Code of Ethics in all my business activities and in any dealings within the association;
3. I acknowledge my company’s responsibility for the actions of our employees and representatives;
4. My company has sufficient procedures and control mechanisms to ensure compliance with this Code of Ethics;
5. There are no proceedings (judicial or administrative) or litigation against me regarding unethical conduct that could be in conflict with the rules of this Code of Ethics;
6. I do not carry out any activity in conflict with local laws or the rules of this Code of Ethics;
7. I understand that my company may be expelled from the association if it is found to have seriously violated this Code of Ethics.