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ANTI-BRIBERY, CORRUPTION & MONEY LAUNDERING POLICY
1.1 www.SafeSparesOnline.com (“SafeSparesOnline”) is a web portal, owned and operated by M/s Sital Agri Farms and Equipmets, (“proprietorship/We/Us/Our”) a proprietorship incorporated under the Shops and Establishment Act, having its registered office at 902 Shyama Prasad Mukherjee Marg, Delhi – 110006 operating under the trademarked name “SafeSparesOnline” is an online marketplace for machine spare parts.
1.2 SafeSparesOnline has always been relentless against disloyal business behaviours and corruption from any business partner (“partners”) interested to enter into any transaction. To emphasize a zero-tolerance approach to bribery and corruption, SafeSparesOnline establishes the principles through this Anti-Bribery, Corruption and Money Laundering (“Policy”).
Associates
Associates stands as a collective term for all individuals working at all the levels and grades, including senior managers, officers, directors, employees (whether permanent, fixed-term or temporary), consultants, contractors, trainees, volunteers, service providers, seconded staff, casual workers and agency staff, agents, or any other person associated with SafeSparesOnline, wherever located.
Business Partners
Business Partner stands as a collective term used for Consultants, Logistic partners, Vendors, Contractors, Youtubers, Agents, Intermediaries, any other Service Providers and associates of such third parties with whom SafeSparesOnline enters into contract(s).
Bribery
Bribery means the offering, promising, giving, receiving, soliciting or accepting of a financial or other advantage, or any other thing of value, with the intention of influencing or rewarding the behaviour of a person in a position of trust to perform a public, commercial or legal function to obtain or retain a commercial advantage. Bribery includes any attempt to do any of the foregoing as well. Bribes are payments made in the form of money or anything else of value in return for a business favour or advantage.
Cross Border Transactions
Cross-border transactions are any interactions or transactions involving a Government Official where:
– An Associate is in a country other than the home country of the Government Official, or
– The interaction or transaction is reasonably expected to occur in a country other than the home country of the Government Official.
Improper Payments
Improper payments means receiving or paying bribes or giving, offering, or promising to give money or anything else of value to any person, including any Government Official, in order to improperly influence any act or decision of a person, or to otherwise gain an improper benefit for the proprietorship.
Extortion
Extortion means to directly or indirectly demand or accept a bribe, facilitation payment or kickback.
Facilitation Payments
Facilitation payments are unofficial payments made to secure or expedite a routine government action by a government official.
Gift
A gift is anything of value and would encompass any gratuitous monetary or non-monetary benefit. It includes tangible items such as cash, precious metals, stones, jewellery, art, and any of their equivalents, but also intangible items such as discounts, services, loans, favours, special privileges, advantages, benefits and rights that are not available to the general public. A “gift” also includes meals, entertainment, hospitality, vacations, trips, use of vacation homes, tickets to sporting or music events, outings, vendor familiarization trips, and use of recreational facilities.
Kickbacks
Kickbacks are typically payments made in return for a business favour or advantage.
Money Laundering
Money laundering is the process of concealing the source of funds and ownership of illegally gained proceeds that is then reintroduced into the economy for legitimate purposes.
3.1 The principles set forth in this policy are applicable to all Associates and Business Partners of the proprietorship. It is therefore the responsibility of all Associates and Business Partners to follow and adhere to all elements described in the Policy.
3.2 Associates have a special responsibility to comply with this Policy, and ensure that our proprietorship’s procedures and measures to combat the policy risks and threats are upheld and strengthened.
3.3 The policy provides information and guidance on how to recognise and deal with bribery and corruption issues.
3.4 It guides SafeSparesOnline to act professionally, fairly and with utmost integrity in all its business dealings and relationships, wherever it operates.
4.1 The proprietorship shall, from time to time, designate an employee of sufficient competence as the compliance officer to ensure compliance with the provisions of this Policy (“Compliance Officer”) and the same shall be notified to the Associates. The proprietor of the proprietorship has been designated as the Compliance Officer.
4.2 All reports, complaints, doubts or concerns in relation to this Policy shall be raised by the Associates to the Compliance Officer. Every query or concern raised by any Associates in relation to any suspected violation of this policy shall be investigated by the Compliance Officer.
4.3 Any action required to be undertaken under this Policy shall be taken by the Compliance Officer in accordance with this Policy. Aggravated cases of breach of this Policy shall be escalated to the Board of Directors of the proprietorship (“Board”).
5.1 The proprietorship prohibits all forms of bribery and corruption whether involving, but not limited to, Government officials or a private sector person or company and whether directly or indirectly.
5.2 The proprietorship conducts its business lawfully and ethically and expects everyone associated with it to conduct its business with integrity regardless of the existence of any local customs or traditions that may question integrity.
5.3 No Associate shall ever directly or indirectly offer or pay, or authorize an offer or payment, of money or anything of value to a government official, individual in the private sector, any other person any legal entity which is:
5.3.1 Intended to influence the judgment of the recipient in exercising his or her job responsibilities, or
5.3.2 Intended to secure preferential treatment or an improper advantage for the proprietorship, or
5.3.3 Intended as gratification for the recipient having made a decision or acted in a way that benefited the proprietorship, or
5.3.4 Intended to influence the judgment or conduct of an Associate in his or her job responsibilities.
5.4 If any Associate is asked to make a payment on behalf of the proprietorship, he/she should always be mindful of what the payment is for and whether the amount requested is proportionate to the goods or services provided.
5.5 Associates should always ask for a receipt that details the reason for the payment. In case of any suspicion, concern or query regarding a payment, raise these with the Legal Department without any delay or hesitation at safe@SafeSparesOnline.com.
5.6 While engaging with Business Partners, Associates should ensure that they comply with this Policy.
5.7 If any Associate becomes aware that any Business Partner is engaged in bribery or corruption, that Associate should immediately report his/her concern following the procedure set out in our “Whistle-Blower Policy”.
5.8 When engaging in a Cross-border transaction, unless otherwise specified in this Policy, Associates must ensure compliance with local laws in the government official’s home country. The interaction or transaction also must be permitted in the initiating Associate’s country and in the country where the interaction or transaction is reasonably expected to occur. If you have any questions, consult with the Legal Department at safe@SafeSparesOnline.com.
5.9 Associates cannot accept any gifts in cash or kind, except owing to the customary or religious practices followed by any third party. Associates need to exercise professional judgment in identifying inappropriate, frequent or material gifts and entertainment and shall avoid the same to maintain integrity and independence.
5.10 The proprietorship may make charitable donations that are legal and ethical under local laws and practices. No donation must be offered or made without seeking the prior opinion of the proprietorship. Associates may, in their personal capacity, make donations that are legal and ethical under local laws and practices. It is recommended that all such donations or contributions are documented with a receipt.
6.1 You become aware that a third party engages in, or has been accused of engaging in, improper business practices;
6.2 You learn that a third party has a reputation for paying bribes, or requiring that bribes are paid to them, or has a reputation for having a “special relationship” with government officials or officials involved in the pharmaceutical licence application process;
6.3 A third party insists on receiving a commission or fee payment before committing to sign up to a contract with us, or carrying out a government function or process for us;
6.4 A third-party requests payment in cash and/or refuses to sign a formal commission or fee agreement, or to provide an invoice or receipt for a payment made;
6.5 A third-party request that payment is made to a country or geographic location different from where the third party resides or conducts business;
6.6 A third-party requests and unexpected additional feel or commission to “facilitate” a service;
6.7 A third party demands lavish entertainment or gifts before commencing or continuing contractual negotiation or provision of services;
6.8 A third-party request that a payment is made to “overlook” potential legal violations;
6.9 A third-party request that you provide employment or some other advantage to a friend or relative;
6.10 You receive an invoice from a third party that appears to be non-standard or customised;
6.11 A third party insists on the use of side letters or refuses to put terms agreed in writing;
6.12 A third-party request or requires the use of an agent, intermediary, consultant, distributor or supplier that is not typically used by or known to us;
6.13 You are offered an unusually generous gift or offered lavish hospitality by a third party;
6.14 A foreign government official suggests a contribution should be made to his favorite charitable organization and in return he would be able to influence the decision-making process for license approvals;
This list is not exhaustive and you should be alert to other indicators that may raise a suspicion of corrupt activity.
7.1 SafeSparesOnline is committed to complying fully with all the applicable Anti-money laundering laws including the Prevention of Money Laundering Act, 2002 in the conduct of its business.
7.2 All the Associates and Business Partners agree that they shall comply with all applicable anti-money laundering, anti-fraud and anti-corruption laws and shall establish processes to check for and prevent any breaches of such laws.
8.1 Associates and Business Partners must adhere to the commitment to conduct its business and affairs in a lawful and ethical manner.
8.2 In addition, any Associates and Business Partners who become aware of any instance of violation of this Policy has occurred or is about to occur is required to report it to the Legal Department at safe@SafeSparesOnline.com.
8.3 In case of any reporting under clause 6.2, the proprietorship shall investigate the matter and make a detailed report.
8.4 The proprietorship shall conduct appropriate due diligence to inform risk assessments and ensure compliance with the Policy.
9.1 Failure to comply with this Policy shall result in severe consequences, which could include internal disciplinary action or termination of employment or contract without any notice.
9.2 Violation of this Policy may also constitute a criminal offence under India’s Prevention of Corruption Act, 1988 along with all its amendments.
9.3 If it appears in the opinion of the proprietorship that any Associate or Business Partner violated such laws, then the proprietorship may refer the matter to the appropriate regulatory authorities, which could lead to civil or criminal penalties.
9.4 In case of violations of this ABAC policy, the Compliance Officer shall take appropriate steps such as:
9.4.1 Assigning an Investigation Team: Experts with the right knowledge and objectivity may be appointed to investigate a complaint.
9.4.2 Conducting an Investigation: Every investigation relating to a suspected violation of this Policy shall be investigated by the Compliance Officer together with other members assigned under sub-clause 9.4.1. above. The objective of such an investigation would be to determine the facts, through interviews with concerned participants and/or review of documents. Such an investigation team will make a written demand for information, records etc. that is reasonably related to the alleged offence.
9.4.3 Corrective Action: If necessary, corrective actions shall be prescribed or suggested to appropriate managers, officers and employees for implementation.
9.4.4 Penalties: The Compliance Officer shall have the discretion to recommend appropriate disciplinary action, including suspension and termination of service of such defaulting Associates. The Compliance Officer shall also recommend if the violation is potentially criminal in nature and should be notified to the authorities. In the event of criminal or regulatory proceedings, the Associates shall cooperate with relevant authorities.
10.1 The Board of Directors will monitor the effectiveness and review the implementation of this Policy, considering its suitability, adequacy and effectiveness.
10.2 The proprietorship reserves the right to vary and/or amend the terms of this Policy from time to time.
