Background
The rules, and the standards
Everything here is drawn from the text of a law or a published document, and links to its source.
The law
In the countries we cover, offering or asking for an undisclosed commission to or from a person who handles someone else's money is, in general, a crime, whether or not the client is overcharged. The provisions, and their limits, are set out country by country.
The industry's own contract
The standard charter contract used across the industry says how the Advance Provisioning Allowance is to be handled. We quote it in its own words, with its source and version.
What is published, and what we could not find
We list the standards, guidance and policies we found, and say plainly where we looked for one and did not find it, for example a published supplier-conduct standard for the industry. If you know of one, please tell us.
Where this is going
A standard written in the open, with suppliers, management companies, brokers and crew, that anyone can see and check: a clear policy, a public promise and a list of those who have made it.
Our standard for what we publish
- Every factual claim traces to a document or to the text of a law.
- We quote organisations in their own words. We do not guess at motives.
- We do not publish the names of individuals, or accuse brokerages, companies or suppliers of wrongdoing. This is a resource, not a pillory.
- If we have something wrong, tell us and we will correct it promptly.