1. Introduction
Neuronkraft is committed to opposing the use of corruption wherever we do business. It is part of our fundamental principles that we compete for business on fair terms and solely on the merits of its services.
Corruption is a criminal offense in most jurisdictions. As a company doing business with a multitude of countries all over the world, Neuronkraft adheres to all applicable laws, and regulations, including, but not limited to, the United Nations Convention against Corruption.
Any failure to comply with anti-corruption laws could have serious adverse consequences for our company, including heavy fines, costly damages, and reputational damage.
This policy includes basic rules on anti-corruption and sets the minimum standards for the company, its owners, and employees. It is meant to provide guidance on behavior in grey zone areas.
Neuronkraft do business in countries where laws on anti-corruption are flawed, not followed, or even not enforced. As a minimum, this policy shall always be applicable and govern the behavior. We value our business integrity, and no violation of this policy can be justified.
We encourage transparency, and we will investigate violations thoroughly. Due to the size of our company, we have not established a formal whistle blower function, but we will enforce all legal remedies available and even pursue matters with relevant authorities, if or when relevant.
2. Corruption
Corruption is the abuse of entrusted power for private gain – either for the company or you as an individual – not only financial gain, but also non-financial advantages.
In its clearest form, corruption is bribery whereby money changes hands. However, bribery can take many forms if meant to alter the behaviour of the recipient and gain an undue (illegal) advantage, e.g. payments or value in kind (kickbacks) disguised as consultancy fees, bonuses, commissions, sponsorships or donations to charity or political parties, facilitation payments or improper gifts and entertainment.
This policy outlines the most common forms of corruption. However, is not limited in its scope to only the forms mentioned herein.
Our company and its employees may never receive any undue compensation (kickback or other types of bribes) for simply doing their job. Nor may they give undue compensation.
When in doubt, always consider the following:
- Transparency: Would I mind if others knew what I was doing?
- Reality: Is this real or is it made up for the occasion to explain an undue payment?
- Effect: Does my action inappropriately affect a process or a person?
- Fairness: Would my decision be considered fair by Neuronkraft management?
3. Gifts and hospitality
For the purpose of this policy, a gift means any payment, present or advantage offered, given or received to obtain a business advantage, e.g. wine, food baskets, gift cards, memberships, discounts, cash etc.
Although gifts and hospitality are customary and legitimate aspects of day- to-day business activities, certain requirements always apply to ensure that the business advantage is not improperly obtained:
- The contribution must be granted or accepted in a transparent manner.
- Payment must never be offered or accepted as consideration for an unlawful advantage.
- Monetary gifts are generally prohibited.
- Be aware if you are dealing with a public official. Never provide any gifts or hospitality to a public official without prior approval, regardless of the value and circumstances.
- Always be aware of the frequency of gifts offered to the same recipient.
- During a public tender process, avoid gifts and entertainment altogether, as they can easily be perceived as an attempt to influence the decision- making process.
4. Political contributions
Political contributions are contributions to one or more politician(s), a political campaign or a political party. Such contributions may be perceived as an attempt to gain a commercial advantage and may be considered kickback. Political contributions – whether direct or indirect – are not allowed.
5. Charitable donations and sponsorships
Charity donations are made with a view to helping someone in need. Sponsorships are made to support someone or something.
Community support is part of the responsibility and culture of Neuronkraft and – subject to budgetary commitments and limitations – donations, such as charity or sponsorships, are permitted if they reflect or support the values of Neuronkraft.
Charitable donations and sponsorships must always be customary in size and purpose and must never serve as an inducement to obtain an undue advantage. Sponsorships must always serve a business purpose.
Care must be exercised as charitable donations and sponsorships could be a cover for a kickback or a bribe. Always conduct proper due diligence of the charity organization or the recipient of a sponsorship before deciding to support it.
Donations and sponsorships must always be transparent, traceable and be recorded via our financial systems.
6. Conflicts of interest
When you do business with family members or friends on behalf of Neuronkraft, there may be a conflict of interest. If there is even the slightest risk of such a conflict of interest arising, Neuronkraft owners should be informed this to ensure transparency and obtain approval.
7. Due diligence of business partners in high-risk areas
Business partners are partners with whom Neuronkraft cooperates but who are not employed by Neuronkraft directly, e.g. consultants, distributors, suppliers, or agents doing business with Neuronkraft. Neuronkraft should only partner with business partners who operate with ethical standards consistent with our own and who abide to international and local legislation.
For business partners in high-risk areas, we further need to perform a due diligence investigation of partners who operate in high-risk regions to find out who we are dealing with and what their reputation is?
- Ensure proper written agreements with a clear a clear scope of services, Ensure documented communications with the business partner to the extent possible.
- Ensure that the business partner has no direct affiliation or link with the local government or related foreign public officials to avoid the risk that payment to the business partner is a cover for an indirect payment to a public official.
- Record all payments to business partners accurately in the financial systems of Neuronkraft.
- Ensure that there is always a clear and transparent link between orders, invoices, payments, services and shipments.
- Check if the business partner acts in accordance with regulation on export control and trade sanctions.
8. Consultants
It is normal to pay a fee to a consultant. However, take special care to ensure that the consultant is independent. Do not engage a consultant without a written agreement. The agreement must include a description of a proportional fee for services and general terms.
9. Facilitation payments
Neuronkraft refrain from the use of facilitation payments.
Only in extraordinary circumstances where a Neuronkraft employee may suffer harm if payment is not made, exceptions may be made.
- Always actively resist the payment and, if unavoidable, keep payment at an absolute minimum.
- Keep a detailed record of the nature of the payment. Facilitation payments are usually easy to detect. However, in some cases they may be disguised as legitimate commercial transactions.
- Ask for a receipt, if possible, and take special care if the normal fee is not applied, payment is required in cash, no receipt is offered or given on payment, and facilitation payments are common in the country in question.
10. Red flags in relation to corruption
- Providing payment in advance or partial payment immediately prior to a signing a contract.
- Providing payments in cash or offshore payments or not getting a receipt for payments made.
- Channeling payments through third parties,
- Payment of combined fees and expenses to business partners.
11. Contact with authorities
If authorities suspect that Neuronkraft violating anti-corruption laws, this may trigger an investigation. Any investigation may have serious consequences for Neuronkraft, even if the suspicion proves to be groundless.
In the event of an investigation, Neuronkraft will always cooperate with the appropriate authorities, and employees may not obstruct the authorities from carrying out their investigations.
If deemed necessary to do so, Neuronkraft will involve the relevant authorities.
12. Report
Always report any breach of this policy to Neuronkraft.
Due to the size of Neuronkraft, Neuronkraft is not obliged to establish a whistleblower function. However, some of us have been known to blow one’s own horn.