Proper Operating practices
Orient Company works in a responsible way and according to the legal requirements of the countries where it operates.
The compliance activity is supervised inside the company by the Human Resources Manager , together with the Legal department.
Gift giving and acceptance practices (money or other type of presents) in order to facilitate some business, are completely forbidden for all employees, inside the company and also in relation with partners, third parties or regulatory bodies.
Anti- Corruption and anti- bribery policies
Orient Company doesn’t tolerate any form of corruption and bribery in its internal or external activities .
It is strictly forbidden any form of bribery that can be offered in a direct or indirect way. Forbidden are also bribery promises, granting or authorizing the granting of money or other valuables to government officials or business partners from private sector, in order to influence the actions or to obtain any type of advantage.
Every offer, ammount paid or present which is related to running business with Orient Company , has to be in accordance with applicable laws and must not create non ethical advantage situations.
The payments done have to be used only for legal purposes, such as:
- Accounts and fonds to be used only for legal and legitimate purposes
- Payments are done only if they are legal and for legitimate purposes
- Payments are done only with appropriate documentation.
Bribery includes also payments in small amounts offered to lower-ranking officials, for their own benefits , in order to facilitate actions that need their approval, or to omit aspects that may create inappropriate benefits.Presents, accommodation, offering meals or other benefits, invitations to events can sometimes influence the beneficiary’s decisions or can create an image of inappropriate influence.
Presents, accomodation and other benefits have to be in compliance with applicable laws:
- They must be transparent and registered in the company’s accounting
- They must be appropriate in terms of nature, value, frequency and position of the beneficiary
- They must not be offered, granted, requested, or accepted , considering any type of advantage
- The appearance of dishonesty or inappropriate situation should never be generated
Third parties, especially government representatives or public figures may have strict rules regarding the receipt of gifts and accommodation. These rules may be very strict and have to be respected.
Travel expenses
Companies may sometimes be required by third parties to bear the costs of transport for certain business situations.
Excessive reimbursement of travel expenses can improperly influence the beneficiary, or at least can create the appearance of an influence.Thus, travel expenses must be reasonable.
Sponsorships, Donations, Contributions and membership fees in certain organizations: can be an important aspect of social involvement and the pursuit of goals of the organization.
They must:
- Be carefully selected to promote the legitimate goals of the company
- Not be promised, offered, or made to obtain inappropriate advantage in business, or for other unethical purposes
- Be religiously and politically neutral
Third party involvement
There are legitimate situations that involve third parties in business relationships.However, the use of third parties for illegal activities, or the influence of government officials, or private entities, is forbidden.Thus, any third party will be verified from the point of view of integrity, before starting a relationship and monitored during the course of business relations.
In order to prevent, detect and prevent the violation of applicable laws, in particular those related to anti-corruption, the organization keeps records that accurately reflect all payments made, expenses incurred, alienated assets and applies an internal control system for proper authorization, registration and reporting of all transactions.
Compliance with fair competition, antitrust laws and intellectual property rights
The organization carries out its activities responsibly and in accordance with the legal requirements and regulations applicable in the countries in which it operates, especially in the field of fair competition, antitrust legislation, respecting intellectual property rights.
Antitrust laws protect free, undistorted and real competition for the benefit of customers, companies and society as a whole.Antitrust laws, among others, prohibit concerted agreements and practices between companies that impede real competition.Anti-competitive agreements include: rigged bids, price agreements, market sharing, customers, or territory allocation, or joint projects with competitors.Abuses of a dominant position are forbidden.
Confidential information of customers and third parties, customers, competitors, partners, is treated in accordance with the law.Also the intellectual property of other parties is respected: copyright, client, trademarks, trade information, licenses.
The organization acts together with the partners for:
- Operation in accordance with national and international antitrust laws
- Respect for trade secrets and intellectual property of other parties
Conflict of interest awareness
Employees must always act in the interest of their companies.Thus, a conflict of interest arises if the interest of a person, or of his personal relations, diverges from those of the company to which he belongs.
The conflict of interest can hinder a company’s success, can lead to economic damage, and damage the company’s reputation if it goes public, if the conflict of interest leads to uneconomic decisions, if customers are lost because they lose confidence in the company’s integrity, or if confidential information is leaked. In some cases, conflicts of interest can lead to corruption and antitrust risks.Consequently, employees should not have financial or other relationships with anyone who may have a conflict of interest with the obligation of employees to act in the interest of the organization to which they belong.For these reasons, the situations listed above should be aware and avoided
For this reason, the company aims to:
- Make decisions in the interest of the organization and not based on personal interest
- Anticipate and avoid situations in which conflicts of interest may arise
- Avoid relationships with companies with personal interests if they can lead to personal benefits of the partner
- Inform the organization of any personal interests that may exist in connection with a business relationship
- Establish measures to prevent conflicts of interest
- Avoid the situations is which employees give or receive gifts or other benefits in relationships with third parties.This situation does not apply to occasional gifts of purely symbolic value or protocol expenses of normal value.
In order for employees to assess a situation to identify if there is a conflict of interest, the following questions can be asked:
- Is the decision we make for our company influenced by personal interest?
- What will be the impression of third parties such as customers, business partners and investors, concerning this situation?
- How will the public react to the decision?
Financing of terrorism
Money laundering means hiding the origin of money, or other assets obtained from illegal activities and moving them to the legal economy.In addition to money, financial terrorism may include other assets such as goods or merchandise.The organization aims to conduct business relations only with partners with impeccable reputation, organizations that comply with legal requirements and have financial resources from legitimate sources.
The organization aims to:
- Identify as much as possible the real beneficiary of business relationships
- Apply measures to verify the identity and economic profile of customers, business partners and other third parties, as well as the origin of payments, in order to ensure that they come from legitimate sources
- Report suspicious business relationships, transactions and activities to authorities, according to the situation.
Respecting data confidentiality
Personal data is the information about a specific or identifiable person, such as name and address, pictures, personal identification number, bank details, telephone, or health data.
Personal data protection plays an important role in the digital world.The loss or misuse of personal data can have serious consequences for those persons.The organization ensures that the personal data it manages are effectively protected and used only for legitimate purposes.
The company:
- Collects and processes personal data respecting confidentiality, only for legitimate, predefined purposes and in a transparent manner.
- Processes personal data that is protected against loss, modification and unauthorized use by technical and / or organizational measures
Rădăuţi
01.03.2021