Article 1- To maintain and enforce high standards of ethical professional conduct making

Membership in the NATD a recognized mark of experience, integrity and competence.

Article 2-To regard as confidential all information concerning the business and affairs of the

customer.

Article 3-To conduct business in a manner which brings credit to and enhances the reputation of

the telecommunications industry.

Article 4-To publicize products and services in a professional manner, avoiding all conduct,

practices and promotions likely to discredit the industry.

Article 5-To broaden public understanding and enhance confidence in the telecommunications

industry so that users will be encouraged to use Member products and services as their primary

resource.

Article 6-In keeping with these principles, Members of the NATD and Subscribers to the NTTN

make the following pledge:

a) To follow through and complete any agreement made verbally or otherwise to any

NATD Member or non-member, prospect or customer.

b) To conclude a transaction in a competent and professional manner once the

parties have agreed to complete a specific transaction.

c) To honor an offer that has been accepted as expeditiously as possible.

d) To fully disclose all limitations on the authority of an employee or agent

representing a Member or Subscriber in a transaction.

e) To use only one name, identity or affiliation in all business transactions,

negotiations and competitive bidding environments. Those companies doing

business in a variety of capacities under one legal entity are viewed as one. For

example, individual companies engaged in secondary market brokerage,

manufacturer authorized resale of products or services, independent software

vendor sales or service and/or the provision of direct or indirect third-party

maintenance and support are considered as one for purposes of this Code of

Ethics and may not appear as multiple or separate organizations in the course of

one transaction for any purpose including bidding or conflict resolution.

f) To refrain from disparaging others by statement or innuendo.

g) To respond to any complaint alleging violation of the Code and participate in all

proceedings prescribed by the NATD Board of Directors.