1. POLICY STATEMENT:
WHY WE COMPLY It is our policy to conduct all our business in an honest and ethical manner. We take a zero-tolerance approach to bribery and corruption and are committed to acting professionally, fairly and with integrity in all our business dealings and relationships, wherever we operate, and to implementing and enforcing effective systems to counter bribery.
Bribery offences can result in the imposition of severe fines and/or custodial sentences (imprisonment), exclusion from tendering for public contracts, and severe reputational damage. We therefore take our legal responsibilities very seriously. We will uphold all laws relevant to countering bribery and corruption.
The purpose of this policy is to
• Set out our responsibilities to comply with laws against bribery and corruption
• Provide guidance on how to recognize and deal with bribery and corruption issues.
The Company will undertake a periodic bribery and corruption risk assessment across its business to understand the bribery and corruption risks it faces and ensure that it has adequate procedures in place to address those risks. The risk assessment will be documented and periodically reviewed, and the appropriate committee of the Board of Directors of the Company be updated on a half yearly basis in accordance with applicable regulations.
2. WHO MUST COMPLY?
• This policy applies to all individuals working for OHT FASTCOMP, its subsidiaries, joint ventures, and affiliates anywhere in the world (collectively referred to as the "Company") and at all levels and grades.
• This includes senior managers, officers, directors, employees (whether regular, fixed term or temporary), consultants, contractors, trainees, seconded staff, home-workers, casual workers.
• In this policy, third party means any individual or organization that an associate may come into contact with during the course of his/her engagement with the Company, and includes actual and potential clients, customers, suppliers, distributors, business contacts, agents, advisers, business associates (including rainmakers etc.) and government, non-government organizations and public bodies including their advisors, representatives and officials, politicians and political parties.
3. DEFINITION:
WHAT IS BRIBERY? Bribery is:
• a) The offer, promise or receipt of any gift, hospitality, loan, fee, reward, or other advantage to induce or reward behavior which is dishonest, illegal or a breach of trust, duty, good faith, or impartiality in the performance of a person's functions or activities (including but not limited to, a person's public functions, activities in their employment or otherwise in connection with a business)
• b) The offer or promise of any gift, hospitality, loan, fee, reward, or other advantage to a public official with the intention of influencing the public official in the performance of their public function, to obtain a business advantage
Bribery includes not only direct payments, but also authorizing or permitting an associate or third party to commit any of the acts or take any part in the actions identified in (a) and (b) above. A non-exhaustive list of examples of Bribery is set out in Section 18 Policy below, “Examples.”
4. WHAT IS NOT ACCEPTABLE
It is not acceptable to:
• Give, promise to give, or offer, a payment, gift or hospitality to secure or award an improper business advantage.
• Give, promise to give, or offer, a payment, gift or hospitality to a government official, agent or representative to facilitate, expedite, or reward any action or procedure.
• Accept payment from a third party knowing or suspecting it is offered with the expectation that it will obtain a business advantage for them.
• Induce another individual or associate to indulge in any of the acts prohibited in this policy.
• Threaten or retaliate against another associate who has refused to commit a bribery offence or who has raised concerns under this policy.
• Give or accept any gift where such gift is or could reasonably be perceived to be a contravention of this policy and / or applicable law; or g) engage in any activity that might lead to a breach of this policy.
5. GIFTS AND HOSPITALITY:
• This policy does not prohibit normal business hospitality, so long as it is reasonable, appropriate, modest, and bona fide corporate hospitality, and if its purpose is to improve our company image, present our products and services, or establish cordial relations.
Gifts and Hospitality.
• Must be duly approved. Normal business hospitality must always be approved at the appropriate level of Company management.
• Must not be intended to improperly influence. Associates should always assess the purpose behind any hospitality or entertainment. Hospitality or entertainment with the intention of improperly influencing anyone's decision-making or objectivity, or making the recipient feel unduly obligated in any way, should never be offered, or received. Associates should always consider how the recipient is likely to view the hospitality. Similarly, associates must also decline any invitation or offer of hospitality or entertainment when made with the actual or apparent intent to influence their decisions.
• Must not have the appearance of improper influence. Gifts can in some cases influence, or appear to influence, decision-making, for example by persuading the recipient to favor the person who made the gift over his own employer. Associates should think very carefully before making, or receiving, gifts. Gifts can occasionally be offered to celebrate special occasions (for example religious holidays or festivals or the birth of a child) provided such gifts do not exceed USD 3,188.83 Indian Rupee and are occasional, appropriate, totally unconditional, and in-fitting with local business practices. No gift should be given or accepted if it could reasonably be seen
improperly to influence the decision-making of the recipient.
• Certain gifts are always prohibited. Some types of gifts are never acceptable including gifts that are illegal or unethical, or involve cash or cash equivalent (e.g. loans, stock options, etc). Furthermore, by way of non-exhaustive example, an invitation to his/her family to join him on a foreign business trip, or the extension of a trip at the customer's expense to include a holiday, are at all times unacceptable, and associates should not participate in such practices.
• Modest promotional gifts are permitted. It is acceptable to offer modest promotional materials to contacts e.g. branded pens. Use of one’s position with the Company to solicit a gift of any kind is not acceptable. However, the Company allows associates occasionally to receive unsolicited gifts of a very low intrinsic value from business contacts provided the gift is given unconditionally and not in a manner that could influence any decision-making process.
• Personal payment does not cure. Associates may never pay on their personal account for gifts or hospitality in order to avoid this policy.