The Code of Ethics shall be the basis of conduct, business principles and ideals for the Members of WAPL; and it shall be understood that conduct of any Member of WAPL inconsistent with the provisions set forth shall be considered unethical and said individual's membership status shall be subject to review for possible disciplinary action.
In the area of human endeavor involving trading under competitive conditions, ethical standards for fair and honest dealing can be made increasingly meaningful by an association organized and dedicated not only to the definition, maintenance and enforcement of such standards, but to the improvement and education of its Members. Such is the objective of WAPL and such is its public trust.
It shall be the duty of the landman at all times to promote, and in a fair and honest manner, represent the industry to the public at large with the view of establishing and maintaining good will between the industry and the public. The landman, in his dealings with landowners and others, shall conduct himself in a manner consistent with fairness and honesty, notwithstanding disclosure of any proprietary information, such as to maintain the respect of the public and industry.
Competition among those engaged in the mineral and energy industries shall be kept at a high level with careful adherence to established rules of honesty and courtesy.
- Landman shall not betray his employer’s and/or client’s trust by directly or indirectly using confidential information for personal gain or any purpose other than for the benefit of his employer or client without their prior consent.
- Landman shall exercise the utmost good faith and loyalty to his employer and/or client and shall not act adversely or engage in any enterprise in conflict with the interest of his employer and/or client.
- Landman shall represent to others his area of expertise and shall not represent himself to be skilled in professional areas in which he is not professionally qualified.