No corruption
We do not tolerate any form of corruption. Our business decisions are based on objective and well-founded reasons. We attract our business partners and customers with the high quality of our products and services, and not through undue influence.
What is corruption?
Corruption is the misuse of entrusted power for the private good or benefit, to gain or grant a tangible or intangible advantage for oneself or for third parties. Corruption occurs in politics, economy, and administration. It distorts competition, leads to financial losses, and damages the reputation of the company.
Our business dealings
In our business dealings, we:
- Refrain from any form of corruption and any attempt of undue influence.
- Do not offer gifts, hospitality, or other gratuities with the intent to gain an undue advantage.
- Object to any payments that appear intended to satisfy any form of corruption.
We strive to ensure that business partners — or any other parties who maintain business relationships with us, work for us, or intend to work for us — do not engage in any form of corruption or in any actions or efforts made to exert undue influence. We oblige agents or other intermediaries that we engage to procure orders or permits neither to pay or to accept bribes, nor to grant any undue benefits.
Any attempts to unfairly influence our decisions must be declined. In case of possible violations, we report our observations and take appropriate action.
What are the consequences of corruption based on the assessment of Transparency International?
Corruption takes a heavy impact on companies. It limits the funds available for investment, growth, and innovation. It leads to dependencies and prevents sustainable business relationships. Products become more expensive, and economies grow more slowly and fail to achieve their full potential.
Situation
You received a letter from a supplier with two VIP-tickets for an upcoming Formula 1 racing event. In a corresponding note the supplier expresses that they are grateful for the successful business relationship and would like to grant the tickets as a “thank you”.
This sort of extravagant gift could be seen as an attempt to influence your decisions when dealing with the supplier. You have to decline the offer and inform the Compliance department.
