The PRIMARY purpose for safeguards, is to document what good faith means, so it has some objective agreed upon ethical meaning.

(The fallback purpose for safeguards is for when bad faith occurs, to provide a documentable reason for taking corrective action.)

"Good faith" with legally defined safeguards is a much clearer and safer situation than "good faith" without a clear definition of what standards, if any, impact what "good faith" could possibly mean.