Heason Technology

Anti-Bribery Policy – Heason TechnologyAnti-Bribery Policy – Heason Technology

Heason Technology Ltd (“Heason Technology”) Anti Bribery Policy is Heason Technology’s response to the threat and risk of bribery and corruption. It reinforces Heason Technology’s zero tolerance stance on all forms of bribery and corruption. The policy aims to prevent and detect bribery and corruption, including Gifts and Hospitality and Third Parties and Business Development Transactions.

This Anti-Bribery Policy applies to:

Heason Technology and Bribery

Heason Technology is committed to applying the highest standard of integrity, honesty and fairness in its business activities all over the world. We take a zero-tolerance approach towards bribery and corruption in all its forms by, or of, its employees or any persons or companies acting for it or on its behalf. The Board and senior management are committed to implementing and enforcing effective procedures to prevent, monitor and eliminate bribery and corruption.

Bribery and Corruption

What are bribery and corruption?

Bribery and corruption means an offer, request or acceptance of a financial or other undue reward with the intention of influencing behaviour of someone in business or government in order to obtain or retain commercial advantage. Bribery and corruption have wide socio-economic negative impact; limiting growth and competition, damaging innovation, limiting access to capital markets and inequality in society.

Types of bribery and corruption

Bribery and corruption can take many forms including cash or gifts to an individual or family members, inflated commissions, fake consultancy agreements, unauthorised rebates, political or charitable donations. Common business practices, if abused, can be construed as corrupt payments. For example, excessive or inappropriate entertainment, paying for the travel of spouses, or inappropriate non business-related travel could be a problem. In some cases, the offer of the inducement is unlawful, even if it is not accepted.

Giving, offering, requesting and receiving a bribe are all forms of corruption, even if made indirectly through a third party. Intangible benefits such as favours can be corruption if offered in exchange for other tangible or intangible benefits.

The UK Bribery Act 2010

The Bribery Act 2010 (“The Bribery Act”) came into force in UK on 1 July 2011. The Act is a comprehensive response to all forms of bribery. The Bribery Act repeals all previous statutory and common law provisions in relation to bribery. The Bribery Act covers four offences:

  1. Bribing - i.e. ‘active’ bribery (offering or paying another person)
  2. Being Bribed – i.e. ‘passive’ bribery (soliciting or receiving)
  3. Bribing Foreign Public Officials
  4. Failure by a commercial organization to prevent bribery by an associated person – (the “Corporate Offence)

Foreign Public official (“FPO”)

“Public Official”

“Foreign”

In or on behalf of a country or territory outside the UK

Offence

Scope

Associated person

An associated person is anyone who performs services on behalf of Heason Technology Ltd;

Penalties and potential consequences

Individual offence:

Corporate offence:

Other potential consequences:

Key principles underlying our response to Bribery and Corruption

“Gifts and Hospitality”

Background

Heason Technology recognises that Bona fide hospitality, gifts, promotional and other similar business expenditure aimed solely to promote the products and services offered by the company assist in establishing cordial relations with its business partners and improve image of the company.

Heason Technology however denounces and prohibits offering or receiving of disproportionate hospitality, gifts, promotional items and other similar business expenditure which in reality or in perception maybe viewed as inducement or reward for improper performance.

Purpose

The purpose of this policy is to set out Heason Technology’s policy and guidance stance on the following:

Policy details and guidance

- Gifts or hospitality received during active tender process or negotiations with existing/prospective customers or suppliers
-Gifts or hospitality that make individuals uncomfortable
-Disproportionate gifts or hospitality offered or proposed
-Items that are likely to cause embarrassment in public domain, or result in adverse publicity for the group
-Any gift or hospitality irrespective of amount to government officials
-Any gifts of cash
-Any gift or hospitality that is paid for personally to avoid having to report or seek approval

If you have any issues/queries on the policy and guidance please contact your local Anti-Bribery Representative or Group Risk Management team.

“Third Parties and Business Development Transactions”

Background

All dealings with third party customers, suppliers, contractors and agents shall be carried out with highest standard of integrity and in compliance with all relevant laws and regulations. We expect all our third party business partners to share our values and ethical standards. We must ensure that ‘we know our partners’

Business development transactions include mergers and acquisitions, licensing arrangements, joint ventures, outsourced marketing etc. When entering the types of transactions listed above, we may become legally liable for any past or future corrupt practices of our business partners.

Purpose

The purpose of this policy is to set out Heason Technology’s policy and guidance stance on the following:

Policy details and guidance

Business managers must be aware that dealings with certain categories of third parties carry a higher risk of bribery and corruption and may subject Heason Technology to legal liability, so they will require higher level of oversight under this policy. In particular business managers must be vigilant when entering into deals with third parties that fall within any of the following categories:

a) Third parties acting on behalf of Heason Technology (e.g. agents);

b) Third parties over whom Heason Technology exercises a degree of ownership and control;

c) Third parties who, in course of dealing with Heason Technology, interacts with government officials;

d) Third parties organised and operating in high risk markets and higher risk countries

Anti-bribery and Anti-Corruption provisions should be made in contracts or terms and conditions with all our third parties which include customers, agents, suppliers, contractors and business development transactions (incorporated in Sale and Purchase Agreement)

Due diligence of third parties – To ensure that the requirements of this policy are met in relation to third parties and business development transactions, business managers are required to conduct due diligence on such third parties which pose more than a negligible risk of bribery and corruption. “Negligible risk” means that it is very unlikely that the third party will participate in bribery and, if it does, the consequent loss and damage to the organisation is likely to be very low.

The purpose of due diligence on a third party is to establish whether the third party poses an unacceptable risk of bribery and corruption. Key areas to identify are, whether the third party has:

The nature, type and extent of due diligence undertaken will depend on factors such as the ability of the company to obtain information, cost of obtaining the information, the extent of the possible bribery risk posed by the third party.

A high risk third party based in a high-risk country is likely to require a significantly higher level of due diligence than a low risk third party in a low risk country.

Particular attention needs to be paid to potentially high risk third parties who might be in a position to pay bribe on Heason Technology’s behalf. (e.g. agents or other intermediaries)

The due diligence can include following procedures:

a) Perform checks on interest held by Heason Technology (directly or indirectly) or by its employees (directly or indirectly through family members) in third parties and assess the bribery and corruption risk posed by the interest and any mitigating factors. Employees dealing with a third party and in a position to make business decisions in relation to the third party, inherently represent a higher risk.

b) A questionnaire sent to the third party in which it is asked to answer questions about its ethical reputation and its details of its own Anti Bribery Programme

c) Make enquires of other third parties about the third party’s ethical reputation

d) A web search of the third party, its shareholders and top management to identify any bribery related negative comment

e) Assessing necessity and legitimacy of the services to be provided by the third party, and whether any payments to be made to it are reasonable and proportionate to those services

The above due diligence procedures also apply to organisations to which charitable contributions are made and also sponsored organisations.

Business development transactions

When assessing and responding to risks of bribery and corruption, Business development transaction should be treated similarly to transactions with third parties. Business acquisitions may represent a higher risk of bribery and corruption due to the fact that we are likely to become liable for past and future acts of bribery and corruption.

We must therefore perform robust due diligence procedures to business acquisition transactions to counter the risk of bribery and corruption. The due diligence should typically include the following procedures:

a) Verification of corporate records, including any history of corporate misconduct, litigation, or other controversial behaviour such as significant political contributions or unreported government control.

b) Clear understanding of the network of business partnerships or affiliations, including the reputation of the company and its principals.

c) An on-site visit to validate the legitimacy of the company’s business operations.

d) Criminal history checks with appropriate agencies and publicly available records.

e) The company’s financial history, tax liabilities, revenue reporting — ideally including some understanding of their funding and major clients.

f) Press Review; Searches of both native-language and English-language press, including local business reports and professional journals, industry and mainstream media, to determine the company’s business reputation, any known controversy, major business activities and other social and business relationships of interest. Note: Special emphasis should be placed on identifying any relationship with governmental or political figures/families.

g) Review of regulatory concerns to ensure the company is compliant with local laws and regulations.

Always be vigilant of “red flags” noted in the Anti-Bribery Programme Handbook. Red flags:

If you have any issues/queries on the policy and guidance please contact your local Anti-Bribery Representative or Group Risk Management team.

See what is happening at Heason today
Heason Technology Limited
Motion Solutions Centre
Spring Copse Business Park
Slinfold
West Sussex
RH13 0SZ UK

Tel: +44 (0) 1403 792 300
Email: sales@heason.com

Heason Technology
A discoverIE plc company

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