12 Questions
What type of gifts and hospitality are allowed according to the guidelines?
Only lawful, appropriate, and reasonable gifts and hospitality
What does MODEC prohibit its representatives from doing in relation to gifts and hospitality?
MODEC prohibits its representatives from authorizing, offering, giving, soliciting, accepting, or receiving gifts or hospitality that violate policies or laws.
What is the consequence of receiving gifts that create a conflict of interest?
Receipt of gifts creating a conflict of interest may compromise MODEC's ability to make objective business decisions.
What is the aim of gifts or hospitality that MODEC prohibits?
The aim is not to influence MODEC's business decisions or to provide favorable treatment.
What is included in the prohibition of gifts aimed at inducing MODEC to provide favorable business treatment?
Inducing MODEC to provide favorable business treatment directly or indirectly is prohibited.
Why is giving cash or cash-equivalent gifts prohibited?
Cash or items easily convertible to cash are prohibited because they can raise ethical concerns.
What type of items are not permitted as gifts according to MODEC's policy?
Vouchers, gift cards, pre-paid cards, loans, jewellery, and items made of gold, silver, or other precious metals or gemstones.
Under what conditions does MODEC allow giving or receiving infrequent, modest gifts and hospitality?
If they are related to a legitimate business purpose, permitted under applicable laws, reasonable in value, given or received openly and transparently, and do not create a conflict of interest.
What does 'reasonable' value for gifts mean according to MODEC's policy?
Value evaluated within the context of the recipient's country, customary under the circumstances, and culturally appropriate.
How should gifts and hospitality be given or received according to MODEC's policy?
Openly and transparently.
What should gifts and hospitality not create according to MODEC's policy?
Actual or potential conflict of interest.
Who determines if the frequency of gifts creates impropriety or conflicts of interest according to MODEC's policy?
MODEC Group management, the CCO, or a C&E Designee.
Learn about the guidelines for offering or receiving gifts and hospitality in compliance with company policies and anti-corruption laws. Understand the restrictions on giving or accepting anything of value in business settings.
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