Anti-Bribery & Corruption Policy – Kashd International Company
At Kashd International, we are committed to the highest standards of integrity, ethics, and transparency in all aspects of our business. Our Anti-Bribery and Corruption Policy reflects our unwavering commitment to preventing bribery and corruption in all its forms. This policy provides clear guidelines to ensure that our employees, contractors, and partners maintain the highest level of ethical conduct and comply with all relevant anti-bribery and anti-corruption laws and regulations.
1. Policy Statement
Kashd International has a zero-tolerance approach to bribery and corruption. We are committed to conducting our business ethically and legally, and we expect all employees, agents, suppliers, and third parties associated with our company to adhere to the same principles. Any form of bribery, corruption, or unethical conduct is strictly prohibited, and any violation of this policy may result in disciplinary action, including termination of employment or business relationships.
2. Definition of Bribery and Corruption
Bribery refers to offering, giving, receiving, or soliciting anything of value with the intention of influencing the actions of an individual in a position of power or authority to gain an unfair advantage or to improperly influence the outcome of a decision.
Corruption involves the abuse of entrusted power for private gain and includes any illegal or unethical conduct such as favoritism, kickbacks, and misuse of authority for personal benefit.
Examples of bribery and corruption include:
- Offering or accepting bribes, gifts, or favors to influence business decisions or public duties.
- Offering or receiving kickbacks or commissions to secure contracts, awards, or favors.
- Misuse of company resources or influence to gain personal or financial advantage.
- Engaging in fraudulent activities to deceive stakeholders or misappropriate funds.
3. Prohibited Conduct
Under this policy, bribery and corruption are strictly prohibited in all forms, including but not limited to:
- Offering, giving, or accepting bribes or other improper payments to gain or retain business.
- Facilitating payments: Making or receiving payments that are meant to speed up or secure routine actions or services that are otherwise lawful.
- Gifts and Hospitality: Offering or accepting extravagant or inappropriate gifts, entertainment, or hospitality intended to influence business decisions.
- Conflict of Interest: Engaging in actions that create a personal or financial conflict of interest that could compromise professional judgment or objectivity.
- Political Contributions: Offering or making political contributions in the name of the company to influence public officials or secure business advantages.
4. Responsibilities and Expectations
All employees, directors, officers, and business partners of Kashd International are expected to:
- Understand and Comply: Familiarize themselves with this policy and ensure their actions adhere to its guidelines and principles.
- Report Violations: Immediately report any suspected bribery or corruption activities to the appropriate authorities or internal compliance personnel without fear of retaliation.
- Avoid Conflicts of Interest: Employees should avoid any situation where their personal interests conflict with the company’s interests or could lead to unethical decision-making.
- Ensure Due Diligence: We will exercise due diligence when engaging with third parties such as contractors, suppliers, and agents to ensure that they comply with anti-bribery and anti-corruption standards.
5. Gifts, Entertainment, and Hospitality
While it is acceptable to offer or receive modest gifts, entertainment, or hospitality in a business context, they must never:
- Be intended to improperly influence a decision or gain a business advantage.
- Exceed reasonable and customary limits.
- Be given during sensitive decision-making periods, such as when a contract is being negotiated or awarded.
Employees must ensure that any gifts, entertainment, or hospitality given or received are documented and comply with company policies and local laws.
6. Due Diligence and Third-Party Relationships
Kashd International recognizes that business partners, contractors, suppliers, and agents play a significant role in maintaining compliance with anti-bribery and anti-corruption standards. Therefore, we require:
- Due Diligence: Prior to entering into any business relationship, the company will conduct appropriate due diligence to assess the integrity and compliance of third parties with our anti-bribery and anti-corruption policy.
- Contractual Obligations: All contracts with third parties will include anti-bribery and anti-corruption clauses that require the third party to adhere to this policy and comply with all applicable laws.
7. Reporting and Whistleblowing
We encourage all employees, contractors, and other stakeholders to report any suspected incidents of bribery, corruption, or unethical behavior. The company will provide clear channels for reporting concerns:
- Confidentiality: All reports will be treated confidentially, and employees will not face retaliation for reporting concerns in good faith.
- Non-Retaliation: Kashd International guarantees that employees who report violations of this policy will be protected from retaliation, harassment, or discrimination.
8. Disciplinary Action and Enforcement
Kashd International takes violations of this policy very seriously. Any employee found to be involved in bribery or corruption will face severe disciplinary actions, which may include:
- Immediate termination of employment.
- Legal action or reporting to authorities if the situation warrants.
- Financial penalties or legal claims against individuals or business partners involved.
9. Compliance with Laws
This policy is designed to comply with all relevant local, national, and international anti-bribery and anti-corruption laws. Employees and partners of Kashd International are required to adhere to these laws at all times, even in the absence of formal company guidelines.
10. Review and Updates
The Anti-Bribery and Corruption Policy will be reviewed periodically and updated as necessary to ensure its continued effectiveness. Any changes to the policy will be communicated to employees, contractors, and relevant stakeholders.
Conclusion
At Kashd International, we are committed to maintaining a strong ethical foundation and ensuring that our business operations are free from bribery, corruption, or any form of unethical conduct. By adhering to this policy, we contribute to a positive and transparent business environment and demonstrate our commitment to integrity in all our dealings.
Contact Information for Reporting:
- Internal Compliance Officer: [Name, Contact Details]
- External Reporting Line: [Details of Whistleblower Hotline/External Agency]
By following this policy, Kashd International continues to uphold its reputation for integrity, transparency, and ethical business conduct.