The AMCI Standard Of Good Practices
Members of AMC Institute have developed a Standard of Good Practices for the Association Management Company industry. The purpose of this Standard is two-fold: (1) to collectively enhance management practices across Association Management Companies (AMCs) and (2) to assist AMCs in the establishment of internal quality service systems.
The AMCI Standard of Good Practices for the Association Management Company Industry (An ANSI Standard) can be found here.
Please contact Katie Agard at email@example.com for additional information.
What has Changed?
Below is a list of important changes to the Standard.
- 3.1: Written contract with clients is now required: not just whenever feasible
- 3.6: Client contract must address client and AMC –intellectual property rights regarding materials and software systems
- 4.6 AMC must have a policy for advising clients regarding protection of client Intellectual Property
- 4.7: AMC must have written social media policies for AMC and clients
- 6.7: If AMC recommendation to client board regarding CGL and APL insurance is declined, must be recorded in writing.
- 10.6: AMC must disclose conflicts of interest regarding purchases with client funds
- 11.1: Record retention policy specifically applies to electronic records as well as hard copy documents.
Not a change but very important:
- 11.3 AMC must have a written business continuity plan (data back-up; communication plan; alternate site)