Anti Bribery Policy - (UK Bribery Act 2010)
Visa Petrochemical Products Limited strives to undertake our business fairly with honesty and transparency. This must be reflected in every aspect of our business affairs.
The action and conduct of Visa Petrochemical officers, Directors and employees (collectively Visa Petrochemical personnel) as well as others acting on Visa Energy's behalf are essential to maintaining these standards. To that end, all Visa Petrochemical personnel, Agents, Dealers, Distributors, intermediaries, consultants as well as suppliers or any other people or bodies involved in Visa Petrochemical international business must read, become familiar and comply with this Anti Bribery Policy and the Gifts and Entertainment Policy
Compliance with Anti-Bribery Laws
It is Visa Petrochemical’s Policy to comply with all laws, rules, and regulations governing anti bribery and corruption law, in all the countries where we operate. Visa Petrochemical has a zero tolerance approach to acts of Bribery and corruption, by employees or anyone acting on our behalf. Any breach of this policy will be regarded as a serious matter by the Company of which is likely to result in disciplinary action.
Under UK law (UK Bribery Act 2010), bribery and corruption is punishable for individuals by up to ten years imprisonment. If the company is found to have taken part in the corruption or lacks adequate procedures to prevent Bribery, it could face an unlimited fine and, be excluded from tendering for Government contracts and face untold damage to its reputation.
The payment or offer to pay bribes, or provisions of, or offer to provide gifts or anything of value for improper purposes, to obtain or retain business or any other benefit, (whether for Visa Petrochemical or any other party) is prohibited. Such payments or gifts are also forbidden under the terms of this policy and may result in immediate dismissal for those involved in their payment or receipt.
Visa Petrochemical is required to keep financial records and to have appropriate internal controls in place which will evidence the business reason for making payments to third parties.
Application of the Policy
This policy applies to individual Employees, Agents, Dealers, Distributors, intermediaries, consultants or any other people or bodies associated with Visa Petrochemical or any of its employees. Bribery is committed when an inducement or reward is provided, in order to gain any commercial, contractual, regulatory or personal advantage for Visa Petrochemical or another party.
No bribes of any sort may be paid or accepted from customers, suppliers, politicians, government advisors or representative's private person or Company. It is not permitted to establish accounts or internal budgets for the purpose of making facilitation bribes or influencing transactions (slush funds).
Visa Petrochemical recognise that to refuse a gift in certain circumstances and / or countries would cause offence to our trading partners. The test to be applied in all circumstances is whether the gift or entertainment is reasonable and justifiable. What is the intention of the gift? Is the gift being offered for something in return (quid pro quo). This policy does not prohibit the following practices providing they are customary in a particular market, or are appropriate and properly recorded. Please refer to our code of conduct and gifts policy for further information
Normal and appropriate hospitality (given or received).The giving of ceremonial gifts on a festival or at another special time, up to and not exceeding the value of 100 Euros.