EUROPEAN ASSOCIATION OF MACHINE TOOL MERCHANTS

EUROPEAN ASSOCIATION OF MACHINE TOOL MERCHANTS

The EAMTM was originally formed in the 1940's as the British Association of Used Machine Tool Merchants, it wasn't until 1942 that it eventually incorporated itself into a company. By 1973 the European Association had been incorporated according to English law as a company limited by guarantee under the name Association of European Machine Tool Dealers. Finally, in 1991, it was to be renamed as the European Association of Machine Tool Merchants and recognised by Belgium in 1995 as an International Association.

Code Ethics

Members agree as follows:

To honour completely and sincerely all the contracts and agreements in which they engage both in buying and selling, particularly where terms of payment have been mutually agreed.

To describe and represent the machines they offer to the best of their ability as to:

Serial and model numbers

Condition

Specification

When offering machinery to which they do not have clear title, they will endeavour to establish and advise the prospective buyer of any relevant circumstances which could affect the sale.

When machines are sold with a guarantee and are proved to be defective (other than through the buyers own actions) they will use their up most endeavours to rectify the complaint.

To honour every option and/or first refusal both as to price and date.

To accept that in an event of a member knowingly and deliberately violating or committing a breach of the above Code, (of which the Association's Council shall be sole judge) then, should Council resolve, he will be suspended as a Member. The General Meeting can declare the expulsion of a member.

Members accept that there may be instances not covered by the above code, where the Association must consider whether a Member has brought its good name into disrepute by failure to honour the precept of mutual trust implied by Membership; and that the Association's Council must then determine appropriate remedies, including specific warning or, ultimately, expulsion from Membership, in order both to correct the instance and to prevent its recurrence.