Anti-Bribery & Corruption Policy
1. PURPOSE OF THIS POLICY
The purpose of this policy is to establish controls to ensure compliance with all applicable anti-bribery and corruption regulations, and to ensure that Eccord’s business activities are conducted in a socially responsible manner.
2. POLICY STATEMENT
It is Eccord’s policy to conduct business in an honest and ethical manner. We take a zero-tolerance approach to bribery and corruption and are committed to acting professionally, fairly and with integrity in all our business dealings and relationships, and implement and enforce effective systems to counter bribery. We will uphold all laws relevant to countering bribery and corruption and remain bound by the laws of the UK, including the Bribery Act 2010, in respect of our conduct both at home and abroad.
Any person who works or performs services in any capacity and in any place, for or on behalf of Eccord is expected to comply with this policy (and any additional guidance that may be provided from time to time), and to cooperate with Eccord in order to ensure that compliance with this policy does not interfere with Eccord’s business activities.
3. WHAT IS BRIBERY & CORRUPTION
Bribery is offering, giving, requesting, accepting or receiving something of value – for example, cash, gifts, meals, hospitality or entertainment – as an inducement or reward in return for an improper advantage. Usually, but not always, the aim is to win or retain business. Whether they are given to or received from clients, family members, or suppliers/contractors, bribes are against the law and against our policy.
The greatest care must therefore be taken when considering making or receiving any payment or providing any benefit which might be seen by an outsider as an attempt to improperly influence. Even if the payer does not have any improper intentions, or if the recipient is not actually influenced as a consequence of receiving a payment, Eccord does not want to risk harm to its reputation by having to defend payments which might be regarded by others as a bribe or an attempted bribe.
For the purposes of this policy, corruption involves any of the following activities: bribery, extortion, fraud, deception, collusion, abuse of power, tax evasion, embezzlement and/or money laundering. Doing anything that is intended to assist, enable, facilitate or cause a third party to do any of the above is also treated as corruption..
4. WHAT THIS POLICY COVERS
This policy applies to all individuals working at Eccord, in any capacity, and to any associated consultants, agents or other representatives appointed to perform services for or on Eccord’s behalf, collectively referred to as “employees”.
In this policy, “third party” means any individual or organisation an employee comes into contact with during the course of working at Eccord and includes actual and potential clients, suppliers, contractors, business contacts, agents, advisors, brokers, and government and public bodies.
This policy covers:
Bribes
Tax evasion & money laundering
Referral fees
Corporate hospitality and gifts
Government officials
Facilitation payments
Political and charitable contributions
Selecting a business partner
5. BRIBES
Eccord has a zero-tolerance policy towards bribery and employees must not engage in any form of bribery or corruption, either directly or through any third party.
6. TAX EVASION & MONEY LAUNDERING
Eccord has a zero-tolerance policy towards criminal tax evasion and/or money laundering and will never assist or cause another to do anything illegal or improper, or which we suspect may be illegal or improper.
7. REFERRAL FEES
Eccord has referral fee arrangements with certain introducers, where we choose to pay a proportion of our fee to an introducer to say thank you for recommending us. No mark-up to our client should ever be applied. All referral fees must have prior approval from the Managing Director.
Some third parties will offer to pay Eccord a referral fee. Before any referral fees can be considered, Eccord must have a history of working with the third party so that we are confident and satisfied they provide an acceptable service level and adhere to necessary regulations.
Eccord will not accept any referral fees without the approval of the Managing Director. If it is deemed that a referral fee can be accepted, this is on the strict basis that our client will not be charged a mark-up or premium - instead it must be on the basis that the third party is paying away a proportion of their profit margin.
If we are instructing a third party (e.g. contractors) on behalf of a client – rather than the client instructing the third party directly themselves – then we cannot accept any referral fees.
8. CORPORATE HOSPITALITY & GIFTS
It is Eccord’s policy that reasonable and proportionate hospitality may be given to clients and third parties for the purpose of establishing or developing business relationships.
Similarly, reasonable and proportionate hospitality or corporate promotional gifts may be received from clients and third parties if it is provided by them for the same purposes.
Any gift must be given transparently and openly and in the name of the company (not in the name of an individual).
Any gift that is received, where the estimated value of the gift is in excess of £100 should be declared to the Finance Director.
It is Eccord’s policy that the giving or receiving of gifts with external parties is expressly prohibited if:
- The gift is cash or a cash equivalent (e.g. gift cards)
- Taking into account the reason for the gift, it is of an inappropriate type or value or is given or received either secretly or at an inappropriate time (e.g. during a tender process).
- The gift is given with the intention (or if it may reasonably be inferred) of influencing someone to gain or retain business, gain a business advantage, reward business dealings, or in exchange for explicit or implicit favours or benefits.
9. GOVERNMENT OFFICIALS
The Bribery Act makes it a standalone offence to bribe a government official and similar individuals. For the purpose of this policy, government official means:
- Any elected or unelected official of local or central government
- Any civil servant or person employed in the public sector
- Any employee of a government agency, ministry, public service provider or state-owned entity.
Extra care must be taken when dealing with government officials. This is because the test under the Bribery Act of what will be regarded as a bribe does not require that there be an intention by the payer to persuade the government official to take any improper decision. The payer only has to intend to influence the government official to favour the payer’s business.
It is therefore Eccord’s policy that employees will not offer, promise or make a payment to any government official with the intention of influencing the recipient in the performance of their official functions and/or obtaining or retaining business or a business advantage for the company.
Facilitation payments are small payments made to secure or speed up routine actions, usually by government officials, such as issuing permits, immigration controls, providing services or releasing goods held in customs.
It is Eccord’s policy that it will not, and all employeesshould not, make facilitation payments and should avoid any activity that might lead to, or suggest, that a facilitation payment will be made by or on behalf of the company.
All payments made on Eccord’s behalf should be duly authorised by the Finance Director and evidenced by a formal receipt/invoice by the employee, detailing the nature and purpose of the payment.
11. POLITICAL & CHARITABLE DONATIONS
It is Eccord’s policy not to make contributions to political parties, and neither will it make a charitable donation where there are concerns that the donation may be considered a way to disguise bribery or if such a donation could lead others to infer that Eccord uses charitable donations in order to influence or reward third parties with whom Eccord has business connections.
12. SELECTING BUSINESS PARTNERS
Eccord place great value on the people and organisations that it works with to deliver services to clients or receive services from. Such business partners must always be selected in a completely impartial manner, on the basis of price, quality, performance and suitability of product, services or technical expertise.
Eccord will select business partners in accordance with its ethical policies and in particular conduct a thorough review of the credentials / track records and anti-bribery procedures before selecting them. Employees must never do anything that could suggest the selection of a business partner is based on any other basis than the best interests of Eccord and/or its clients, or that could give one business partner an improper advantage over another.
13. HOW EMPLOYEES CAN RAISE A CONCERN
Employees are encouraged to raise concerns about any issue or suspicion of malpractice at the earliest possible stage. If an employee is unsure whether a particular act constitutes bribery or corruption, or if they have any other queries or concerns, these should be raised with the Managing Director.
Employees who refuse to accept or offer a bribe, or those who raise concerns or report another's wrongdoing, should not be worried about possible repercussions. Eccord aim to encourage openness and will support anyone who raises genuine concerns in good faith under this policy, even if they turn out to be mistaken.
14. RECORD KEEPING
All hospitality or gifts given or received must be declared and a written record kept. All payments made or received on behalf of Eccord shall be accounted for and properly recorded in the company’s financial records by the Finance Director.
15. POLICY RESPONSIBILITY
The Managing Director has overall responsibility for ensuring this policy complies with our legal and ethical obligations and that all employees comply with it.
The Operations Director will monitor the effectiveness and review the implementation of this policy, regularly considering its suitability, adequacy and effectiveness. Any improvements identified will be made as soon as possible. Internal control systems and procedures will be subject to regular audits to provide assurance that they are effective in countering bribery and corruption.
Employees must ensure they read, understand and comply with this policy. The prevention, detection and reporting of bribery and other forms of corruption are the responsibility of all those working at Eccord. All employees are required to avoid any activity that might lead to, or suggest a breach of this policy. This policy does not form part of any employee's contract of employment and it may be amended at any time.
Breaches of the Bribery Act can be severe and result in fines and/or imprisonment. It can also result in reputational damage and/or loss of clients, as well as exposing the company to regulatory breaches.
Any employee who breaches this policy will face disciplinary action, which could result in dismissal for gross misconduct. Eccord reserve the right to terminate the contractual relationship with employees if they breach this policy.
