At the Fleet Auction Group we adopt stringent policies that embrace the need for Corporate Social Responsibility. An innovative ‘TradeOnly’ stance was taken at our inception with the insistence that only bona-fide ‘professionals’ would be allowed to attend our auctions, with trade vendors vetted for acceptability and full status enquiries taken upon trade buyers. All buyers must be FLAG account holders, be VAT registered and have provided us with two trade references in support of their application.
To further protect participants no cash payments are allowed. This represents a proactive stance to the proposed Money laundering Legislation. When combined with professionals-only account registration, this level of transactional transparency is we believe a market-leading approach to gaining new business. It also represents a significant ‘barrier to emulation’ as other auction houses will find it difficult to change their policies. This strategy has introduced ‘new professional buyers’ and returned many franchised dealers to auction, who for many years have avoided this route to market.
Furthermore vehicles that are sold for cash, including those sold via auctions which accept cash from buyers, are easy targets for abuse of the requirement to register the new owner / keeper. By paying cash at a sale where there is no need to register their identity, anyone with criminal intent can make tracing themselves very difficult, however Fleet Managers can clearly demonstrate their own accountability by insisting that their vehicles are remarketed via routes that ensure onward trace-ability.
Our entire business philosophy has been specifically focused towards the establishment and enhancement of Corporate Social Responsibility within our mainstream decision making, which in turn, gives the maximum possible protection to vendors at all levels. This, of course, supports the personal liabilities associated directly to your own Company Directors, which are driven by legal requirements. Furthermore this strategy will also complement your own internal levels of Corporate Social Responsibility and business ethics.