Anti-Bribery and Corruption
We (the Company) value our reputation and are committed to maintaining the highest level of ethical standards in the conduct of our business affairs. The actions and conduct of our employees as well as others acting on our behalf are key to maintaining these standards.
The purpose of this document is to set out our policy in relation to bribery and corruption. The policy applies to all employees, workers and contractors.
We (the Company) reserve the right to vary, update and amend this non-contractual policy, from time to time, for various reasons relating to business needs or to reflect legal developments. Where a policy provides a benefit to you, this clause is not intended to create a binding obligation on us to provide the benefit. Our policies do not form a part of your contract, nor do they constitute terms and conditions of
employment with us.
1.0 Understanding and Recognising Bribery and Corruption
Acts of bribery or corruption are designed to influence an individual in the performance of their duty and incline them to act in a way that a reasonable person would consider to be dishonest in the circumstances.
Bribery can be defined as offering, promising or giving a financial (or other) advantage to another person with the intention of inducing or rewarding that person to act or for having acted in a way which a reasonable person would consider improper in the circumstances. Corruption is any form of abuse of entrusted power for private gain and may include, but is not limited to, bribery.
Bribes are not always a matter of handing over cash. Gifts, hospitality and entertainment can be bribes if they are intended to influence a decision.
2.0 Penalties
The Bribery Act 2010 came into force on 1 July 2011. Under that Act, bribery by individuals is punishable by up to ten years’ imprisonment and/or an unlimited fine. If we are found to have taken part in the bribery or are found to lack adequate procedures to prevent bribery, we too could also face an unlimited fine.
A conviction for a bribery or corruption related offence would have severe reputational and/or financial consequences for us.
3.0 Our Policy
We will not tolerate bribery or corruption in any form.
You must not solicit or accept from any person any remuneration or benefit in excess of your official remuneration with us for the discharge of your duties. You must immediately report to us any remuneration or benefit from another person or organisation.
You must not accept any gift offered in connection with the discharge of your duties. Gifts should be declined except where their return would involve practical difficulties or be likely to cause offence or embarrassment to the donor. You must immediately notify your Line Manager of any gifts you have accepted.
You must avoid any circumstances where a person or persons can improperly influence or enjoy unduly favourable treatment by the company or any Group Company.
We prohibit the offering, giving, solicitation or the acceptance of any bribe or corrupt inducement, whether in cash or in any other form:
● to or from any person or company wherever located, whether a public official or public body, or a private person or company;
● by any individual employee, director, agent, consultant, contractor or other person or body acting on the firm’s behalf;
● in order to gain any commercial, contractual, or regulatory advantage for the firm in any way which is unethical or to gain any personal advantage, pecuniary or otherwise, for the individual or anyone connected with the individual.
This policy is not intended to prohibit the following practices provided they are appropriate, proportionate and are properly recorded:
● bona fide hospitality and promotional or other business expenditure which seeks to improve our commercial image, better to present products and services, or establish cordial relations;
● fast tracking a process which is available to all on the payment of a fee; and/or
● providing resources to assist a person or body to make a decision more efficiently, provided it is for this purpose only.
It may not always be a simple matter to determine whether a possible course of action is appropriate. If you are in any doubt as to whether a possible act might be in breach of this policy or the law, the matter should be referred to your Line Manager. If necessary, guidance will also be sought from our legal advisors.
We will investigate thoroughly any actual or suspected breach of this policy, or the spirit of this policy.
4.0 Key Risk Areas
Bribery can be a risk in many areas of our business. Below are the key areas you should be aware of in particular:
● Excessive gifts, entertainment and hospitality: can be used to exert improper influence on decision makers. We allow both the giving and receiving of good faith, reasonable and proportionate gifts, hospitality and entertaining in the course of business. If you feel uneasy or awkward about accepting such offers, then you should discuss the appropriateness of the gift/invitation with your Line Manager.
● Facilitation payments: are used by businesses or individuals to secure or expedite the performance of a routine or necessary action to which the payer has an entitlement as of right. We will not tolerate or excuse such payments being made.
● Reciprocal agreements: or any other form of ‘quid pro quo’ are never acceptable unless they are legitimate business arrangements which are properly documented and approved by management. Improper payments to obtain new business, retain existing business or secure any improper advantage should never be accepted or made.
● Actions by third parties for which the firm may be held responsible: can include a range of people i.e. agents, contractors and consultants, acting on our behalf. Appropriate due diligence should be undertaken before a third party is engaged. Third parties should only be engaged where there is a clear business rationale for doing so, with an appropriate contract. Any payments to third parties should be properly authorised and recorded.
● Record keeping: can be exploited to conceal bribes or corrupt practices. We must ensure that we have robust controls in place so that our records are accurate and transparent.
5.0 Employee Responsibility and How to Raise a Concern
The prevention, detection and reporting of bribery or corruption is the responsibility of all employees, workers and contractors. If you become aware or suspect that an activity or conduct which is proposed or has taken place is a bribe or corrupt, then you have a duty to report this.
This policy does not set out to provide you with comprehensive solutions to every potential bribery or corruption situation that may arise. In case of uncertainty about the correct response to any situation you are required to discuss the situation with your Line Manager, who will consult with the appropriate person which may include our legal advisors about any ethical or legal problems.
6.0 Abuse of this Policy
A failure to comply with this Anti-Bribery and Corruption Policy will be considered a serious breach of contract in line with our Disciplinary Policy and could lead to dismissal; in addition to any criminal justice procedure if criminal offences are committed.