Anti-Bribery

ANTI-BRIBERY POLICY

 

Download Belmar's Anti-Bribery Policy : ANTI-BRIBERY BELMAR EN

 

PURPOSE OF THIS POLICY

That Policy aims at standardizing behaviors in order to cut in the risk of of bribery for BELMAR.

Anyone who is employed by, or performs services for, or on behalf of, BELMAR anywhere in the world is bound by this Policy.

Intermediaries and other business partners are expected to act ethically and may be required to comply with this Policy in all their dealings with or for BELMAR.

Compliance with this Policy and all applicable laws on anti-bribery and corruption is essential for both your own and BELMAR’s protection. There are many reasons to comply with it :

  • Corporate culture : bribery and corruption is completely contrary to BELMAR’s culture of continuous improvement, unrivalled standards and to act honestly and fairly at all times. Compliance with this Policy is essential  to save that culture.
  • Reputation : image, goodwill and standing can be very easily damaged or destroyed by any breach of law or this Policy. This would also undermine the trust and relationships which BELMAR has been building up in the marketplace with its customers and other stakeholders since 1978.
  • Legal obligations : according to the Law, BELMAR will be found guilty of a crime if it fails in taking appropriate moves to prevent bribery and corruption carried out by anyone acting or performing services on its behalf.
  • Criminal sanctions: in most countries, bribery and corruption are criminal offences. Breaches can occur even where acts relating to an offence take place abroad. Goods resulting from bribery/corruption may also be seized.
  • Civil sanctions: in many jurisdictions, people suffering from damage or business loss due to bribery and corruption can claim compensation.
  • Investigations: investigations on suspected offences may take up considerable management and company time and cause adverse publicity.
  • Disciplinary proceedings : Failure to that Policy, or against the implementation of that policy, will be treated as a serious matter by BELMAR and may result in disciplinary action and reporting to the appropriate authorities. If  a business partner fails to comply with this Policy, BELMAR will consider the resiliation of its business relationship.

 

BRIBERY, CORRUPTION : DEFINITION

Bribery is :
Promising, offering, giving, requesting or accepting whether directly or through a third party ANY ADVANTAGE to induce or reward unappropriate behavior (illegal, unethical or a breach of duty).

Even if a bribe is turned down or fails to have the expected effect, it remains a bribe.

 

Advantages” may be financial or non-financial and could include the following :

  • Money, loans, donations (including charitable donations), contract award, consultancy contracts, preferential treatment, confidential information, gifts, hospitality and holidays ;
  • Any other advantage or benefit which is intended, or perceived to be of value to the recipient or another close person.

 

Bribery could be commited by :

  • Any employee of BELMAR regardless of seniority or grade anywhere in the world; or
  • Any other person performing services on behalf of BELMAR anywhere in the world (third parties such as agents, intermediaries, contractors and suppliers).

Bribery could occur in both the private sector and the public sector.

 

Red flags :

  • Unusually large commissions or unusual payment patterns ;
  • Third parties we know little about e.g. those with unclear trading history, with inaccessible or very limited company information (such as a company formed in a jurisdiction where corporate details of shareholders, directors etc are not publically accessible), or recently formed ;
  • Third parties that appear under-qualified or under-staffed or are specified or recommended by government officials ;
  • Repeated or excessive instances of gifts and hospitality ;
  • Requests to cover unusually large expenses, or expenses for associates or family members ;
  • Hospitality with no legitimate connection to promotion or demonstration of products or services ;
  • A history or perception of corruption in the country in question ; or
  • Payments to / from public officials or individuals who may be politically exposed.

 

BELMAR’S POLICIES

BELMAR has a zero tolerance policy against bribery :

  • Employees including contractors must never promise, offer or give a bribe ;
  • They must never request or accept a bribe ;
  • No employee will suffer demotion, penalty or other adverse consequences for refusing to pay or receive bribes, even if the refusal may result in the BELMAR losing business ;
  • Our Gifts and Hospitality Policy governs the giving and receiving of gifts, hospitality / entertainment, charitable donations and sponsorship.


Conflicts of interest :
BELMAR’s employees should act so as to avoid conflicts of interest :

  • Private arrangements for goods and services to be supplied for personal use using BELMAR purchasing facilities ;
  • Private arrangements for the use of discount terms (except where this has been officially negotiated by BELMAR as a staff benefit and has been advertised as generally available to all staff) ;
  • An employee or agent whose role involves negotiating or authorising a contract with a third party must immediately declare any shareholding in that third party company or its holding company, subsidiaries or associated companies unless the shareholding is in a company listed on a stock exchange and where the shareholding represents less than 5.0% of the issued share capital ;
  • Employees may not allow the payment of company funds to any external organisation or charity of which they are a trustee, board member, director or other officer ;
  • Business decisions, especially appointments and contracts award, must not be influenced by any personal relationship (family or otherwise), or by membership of any social, religious or political association to which entry is restricted by payment, election or oath of loyalty or secrecy.


Business dealings and Contacts :
Any transaction with public officials or private individuals and enterprises must be clear and transparent and run in an appropriate way.

BELMAR can be held responsible for actions of agents, intermediaries, and other business partners (including suppliers and contractors), therefore :

  • BELMAR only works with agents, intermediaries and other business partners who have been approved by the executive management ;
  • Any remuneration due to agents or other business partners working on behalf of BELMAR must be appropriate for the services carried out determined objectively ;
  • Payments must be paid through legal means.
  • Facilitation payments made to an official to secure or expedite the performance of a routine or necessary action to which the payer of the facilitation payment has a legal or other entitlement, such as obtaining a permit, licence, visa are illegal and are never acceptable.

It is BELMAR policy to maintain transparent and accurate books, records and financial reporting.


Important :
If you know that bribery or corruption has taken place, or have any suspicions that it has taken place or may do so, anywhere within (or related to) BELMAR, you should speak to executive management.

BELMAR is committed to ensuring that employees can report their concerns in complete confidence. All reports are taken very seriously and we will investigate accordingly; retaliation, in any form, against a reporter is strictly prohibited.

You should also contact executive management if you have any questions about this Policy generally, or about how the rules apply in specific circumstances.