Anti Bribery and Corruption Policy
Anti-Bribery & Corruption Statement
Baulogic is committed to ensuring that its business is conducted according to ethical, professional and legal standards in a fair, honest and open manner. We will endeavour to ensure that this is reflected in every aspect of business that we undertake, so that we bring integrity to our dealings.
Baulogic considers that bribery and corruption has a detrimental impact in business by undermining good governance and distorting free markets.
Baulogic does not tolerate any form of bribery, whether direct or indirect, by, or of, its employees, officers, agents or consultants or any person or companies acting for it or on its behalf. Senior management are committed to implementing and enforcing effective systems to prevent and eliminate bribery, in accordance with the Bribery Act 2010.
What is Bribery?
A bribe is a financial advantage or other reward that is offered to, given to, or received by an individual or company (whether directly or indirectly) to induce or influence that individual or company to perform public or corporate functions or duties improperly.
Employees and others acting for or on behalf of Baulogic are strictly prohibited from making, soliciting, or receiving any bribes or unauthorised payments. As part of its anti-bribery measures, the Company accepts transparent, proportionate, reasonable and bona fide hospitality and promotional expenditure, whether given or received.
A breach of these Policies by an employee will be treated as grounds for disciplinary action. Employees and other individuals acting for the Company should note that bribery is a criminal offence that may result in up to 10 years’ imprisonment and/or an unlimited fine for the individual and an unlimited fine for the Company.
What is Corruption?
Corruption is the mis-use of power for gain.
What is a Kickback?
Kickbacks are a particular form of bribery. A kickback usually involves the return of a percentage of a sum of money already requested or received, typically as a result of pressure, coercion or a secret agreement. A kickback can be initiated and received by a corrupt individual, usually simultaneously with or after the completion of a business transaction.
What is a Facilitation Payment?
This occurs when a person holding office, whether public or private, uses a position of strength (ie. authority to perform a normal action or service) either with or without extortion to demand a bribe (for either carrying out what the person was appointed to do, to do it faster or to omit doing a required action) from the person or enterprise needing the action performed (or omitted to be done), even though these payments may be small in absolute terms for the payer.
We prohibit the offer, gift, or acceptance of a bribe in any form, including kickbacks on any portion of a contract payment, facilitation payments or the use of other routes or channels to provide improper benefits to customers, agents, contractors, suppliers or employees of any such party or government officials. Whether extorted or not, facilitation payments are bribes and as such are also prohibited.
We also prohibit any employee or business partner from arranging or accepting a bribe, facilitation payment or kickback from customers, agents, contractors, suppliers, or employees of any such party or from government officials, for their own benefit or that of their family, friends, associates or acquaintances.
We oppose all forms of bribery and corruption, large as well as small, whether initiated by corrupt officials or corrupt companies or individuals and whether it takes place in the public or private sector or in the UK or abroad.
The success of the Company’s anti-bribery and corruption measures depends on all employees, and those acting for the Company, playing their part in helping prevent bribery. Therefore, all employees and others acting for, or on behalf of, the Company are encouraged to report any suspected bribery in accordance with the procedures set out in the Policies or in the case of third parties to the Company Secretary. The Company will support any individuals who make such a report in good faith.
CEO Baulogic
January 2023
Contact us
If your require additional information about our Anti Bribery and Corruption Policy and/or you have any questions, please email us at info@baulogic.com, or in writing to:
Baulogic Ltd.
90 High Holborn, London, WC1V 6LJ