ANTI-BRIBERY AND ANTI-CORRUPTION POLICY

PURPOSE

The purpose of this policy is to specify the VKS Construction’s approach to bribery and corruption clearly. With this policy, VKS Construction aims to adhere to anti-corruption and anti-bribery laws and regulations as well as to the legal regulations and ethical principles under the International law.

VKS Construction will not tolerate bribery of any form with any third party, public or private, whether done directly or indirectly through third parties, even if we lose business or encounter delays because of our refusal to do so.

SCOPE

This policy covers and is applicable on directors, general managers, all employees and officers of our company, including all and any persons or entities working for or on behalf of our company, our suppliers, vendors, advisors, lawyers and also our customers.

BRIBERY AND CORRUPTION ACT

VKS Construction has issued an anti-bribery and anti-corruption policy as an indication of the sensitivities it displays regarding business ethics. Bribery and corruption may take place in many different forms, including:

  • Acceptance and presentation of gifts,
  • Representation and entertainment activities,
  • Facilitating payments,
  • Donation and grant payments (Political contributions and donations to charity organizations),
  • Commission,
  • Abuse of authority,
  • Relations with third parties and business partners,
  • Relations with legal authorities,
  • Sponsorship relations,
  • Other benefits.

RISK ASSESMENT AND PROCEDURES

VKS Construction regularly carries out a risk assessment identifying and prioritizing anti-corruption risks. This includes an evaluation of the jurisdictions in which VKS Construction operates, the markets for its particular services, the extent to which it uses third parties to act on its behalf, and the degree of interaction with Public Officials.

INTERNATIONAL POLICY

Our anti-bribery and anti-corruption policy has been extended to accept all international conventions against any form of bribery and corruption. such conventions may include, but not limited to the following;

  • The United Nations Declaration Against Corruption and Bribery in International Commercial Transaction, 1996
  • African Union Convention on Preventing and Combating Corruption, 2002
  • United Nations Convention Against Transnational Organized Crime and the Protocols, 2003
  • United Nations Convention Against Corruption,2005