BVN Real Estate Code of Ethics

Preamble

Investing in real estate in Nicaragua can sometimes raise doubts due to differences in administrative, legal, and cultural practices. Aware of these realities, BVN Real Estate is committed to providing a framework of transparency, security, and compliance to support its clients throughout the process. Our mission is to ensure the reliability of transactions, reduce uncertainties, and facilitate the formalization of real estate investments in a professional and ethical environment.

1. Integrity and Honesty

1.1 Every member of BVN Real Estate must act with honesty and loyalty towards clients, partners, and colleagues.
1.2 Information provided to clients must be accurate, clear, and not misleading.
1.3 Conflicts of interest must be reported immediately to management.

2. Compliance with Laws and Regulations

2.1 The agency complies with local laws, particularly those related to real estate, taxation, and commerce.
2.2 Any fraudulent or unlawful practice is strictly prohibited.
2.3 BVN Real Estate is registered with the local municipality, the DGI (general regime, subject to IVA), INVUR, and is monitored by the UAF.

3. Transaction Formalization and Transparency

3.1 BVN Real Estate assists sellers in formalizing their documents, considering the prevalent informality in Nicaragua.
3.2 All contracts, agreements, and invoices related to real estate transactions are formalized and signed according to regulations. The agency uses electronic signatures (eSign) to simplify and secure the signing process.
3.3 The agency does not require a deposit from buyers to present a purchase offer.
3.4 BVN Real Estate does not receive security deposits from property owners. This policy aims to maintain impartiality and avoid conflicts of interest.
3.5 The agency may recommend the opening of an escrow account for transactions, in collaboration with select partner law firms.

4. Data Privacy and Protection

4.1 Clients' personal and financial information is protected and cannot be disclosed without their written consent.
4.2 The agency implements security measures to protect sensitive data.
4.3 BVN Real Estate does not retain confidential information such as passport copies or banking details once operations are completed. These data are deleted from the agency’s records.

5. Financial Transparency

5.1 The agency systematically discloses the amount of commissions earned on each real estate transaction.
5.2 No agent or employee may receive undeclared compensation related to external services or activities.
5.3 BVN Real Estate holds accounts in Nicaragua and can receive payments in US dollars or Córdobas.
5.4 Clients must prove the source of their funds as required by law.
5.5 The agency's agents act as brokers and must ensure impartiality and transparency in all transactions.

6. Customer Service and Professionalism

6.1 All agents of the agency undergo regular training to provide superior service.
6.2 BVN Real Estate supports clients throughout the entire sales or purchase process, from initial steps to post-sale services.
6.3 Providing accurate and clear information is central to the agency’s services, ensuring that clients fully understand their rights and obligations.
6.4 The agency ensures that all employees are properly declared, with social security contributions and professional training being provided to uphold ethical labor practices.

7. Service Provider Ethics

7.1 The agency guarantees that there will be no overcharging for services from recommended providers (e.g., surveyors, lawyers).
7.2 Providers recommended by the agency must adhere to the quality and transparency standards set by BVN Real Estate.

8. Conflict Prevention and Resolution

8.1 The agency establishes procedures to prevent conflicts between stakeholders.
8.2 In case of a dispute, BVN Real Estate acts as a conciliator and "deal maker" to reach an equitable agreement for all parties.

9. Social and Environmental Responsibility

9.1 BVN Real Estate promotes sustainable real estate practices and encourages environmentally friendly initiatives.
9.2 The agency supports local economic development through its activities and role as an intermediary.
9.3 BVN Real Estate believes strongly in win-win relationships in all commercial transactions, ensuring that all parties benefit fairly from each agreement.
9.4 The agency is committed to social responsibility and participates in charitable actions, such as organizing beach outings for underprivileged children and sponsoring local sports teams.

10. Compliance and Risk Management

10.1 BVN Real Estate is committed to preventing risks related to money laundering and dubious financing.
10.2 Enhanced due diligence procedures include verifying the source of funds, in accordance with applicable regulations and international guidelines.
10.3 All agents receive ongoing training on financial risks and compliance.

11. Sanctions and Enforcement

11.1 Any violation of this code may result in disciplinary measures, ranging from warnings to termination.
11.2 An internal investigation is conducted before any disciplinary decision is made.

12. Review and Implementation

12.1 This code enters into force upon signature by management.
12.2 It is periodically reviewed to adapt to legal and operational changes.

Management Signature:
Bastien Louis Olivier Mahé, Director of BVN Real Estate
Date: ……………………………

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