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FOREIGN CORRUPT PRACTICES ACT
POLICY FOR TECLOGISTICS INC
I. Purpose
The purpose of this
Policy is to ensure compliance by TECLOGISTICS
and its directors, officers, employees, agents,
consultants and representatives with the US
Foreign Corrupt Practices Act (“FCPA”) and
related laws of other countries in which TCL
does business.
II. FCPA
1. Anti‑Bribery
The FCPA is a US
Federal Statute prohibiting US companies and
their officers, directors, employees and agents
from:
-
giving,
promising or offering anything of value,
whether directly or indirectly, to
-
any foreign
official
-
with the
intention of obtaining or retaining business
or obtaining an improper business advantage
2. Record‑Keeping
The FCPA also
requires US companies :
3. Penalties for
Breach
Where the
anti-bribery provisions of the FCPA are
breached, the following penalties may be
imposed:
-
Fines of up to
US$2 million against the company
-
Prison terms of
up to five years and fines of up to
US$100,000 per violation for individuals
involved
Wilful violations of
the record-keeping provisions may result in up
to 20 years imprisonment and US$5 million fines
for individuals and up to US$25 million for
companies.
III. Policy
1. Prohibition of Bribery of Foreign Official
Under no
circumstance shall any director, officer,
employee, agent, consultant or representative
give, pay, offer, promise to pay, or authorize
the giving or payment of money or other thing of
value to any foreign official or to any person
while knowing or being aware of a probability
that the payment or promise to pay is being made
to or will be passed on to a foreign official.
2. Prohibition of Payment or Gift in
Violation of Law
Under no
circumstance shall any TLC person make, offer,
promise, or authorize any payment or gift in
violation of local law in any country.
3. Prohibition of Circumvention of Law
Under no
circumstance shall any TLC person enter into
any transaction that is intended or designed to
circumvent the laws of any country. Any
transaction that has the appearance of
circumventing the laws of any country must be
avoided.
4. Prohibition of Lawful Payment without
Prior Approval
Under no
circumstance shall any TLC person offer, pay,
promise or give any money or other thing of
value to any foreign official without the prior
written approval of the President and owner
5. Clarification of
Uncertainty
Without prejudice to
the foregoing requirement for written approval
an TLC person must promptly contact the
President when questions arise concerning the
FCPA’s anti-bribery provisions including
whether:
-
a particular
individual or entity must be treated as a
“foreign official”
-
whether
something qualifies as anything of value
-
whether a
proposed payment would be made or seen to be
made to obtain, retain or direct business
6. Due Diligence and
Third‑Party Certification
All persons must
ensure that business relationships are formed
only with reputable and qualified partners,
agents and representatives. In negotiating any
business relationship.
7. Record Keeping
All transactions
involving TLC funds or assets should be recorded
accurately and in reasonable detail.
8. Prohibition of
Improper Accounting
Any “improper
transaction” or deviation from established
accounting practices, including omitted or
falsified expense reports, is strictly
prohibited.
9. Compulsory
Compliance
Every person with
TLC will comply with all specifications under
the FCPA specifications
10. Chief Compliance
Officer
The President /Owner
is the Chief Compliance Officer FCPA matters.
Any question regarding activities under
consideration with regard to the FCPA or this
Policy should be promptly directed to the
President.
11. Zero Tolerance
TLC will not
tolerate any person that achieves or purports to
achieve results by violation of law or by
acting dishonestly.
BY:
Josephine Treurniet
President
09/17/2008
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