Anti-Bribery and Corruption Policy

We are a Company of good repute and have an established policy of conducting our business with integrity, and without the use of corrupt practices or acts of bribery, to obtain an unfair/unethical advantage. We comply with both the spirit and letter of the law, and maintain our reputation for fair dealing with both customers and suppliers. We purchase and provide goods and services based on quality, service and business needs. This policy is to maintain our reputation and protect our employees, and should avoid any misinterpretation or misunderstanding. It is also designed to ensure that employees do not find themselves in a potentially vulnerable position.

Fraud

We shall not employ or participate in dishonest methods or schemes for the purpose of obtaining personal or business advantage or reward, including methods involving fraud, deceit and any action that does not comply with legislation.

Bribes and Kickbacks

The law prohibits the payment of any bribes, kickbacks or other illicit forms of payment. Beehive Coils Ltd does not commit any acts with the purpose of inducing a person to act improperly, or be in receipt of gifts, gratuities, entertainment or other favours for ourselves, or immediate family, which may be interpreted as inducing employees to act improperly. We shall not in any way offer, give, solicit or receive any bribes, kickbacks or other illegal or improper payments, transfers or receipts.

Beehive Coils Ltd and our employees are not permitted to bribe another person or company, by giving or offering financial or other advantages, to gain or reward the improper exercise of an organisational activity. The only exception to this is gifts of a trifling nature and value, or hospitality authorised by Management, as a gift to a supplier may be interpreted as a bribe. 

Conflicts of Interest

It is the responsibility of all staff to put the interests of the Company before their own personal interests.  Therefore, if any employee believes there may be a conflict of interest, they should consider formally declaring this to a Director.  Depending on the circumstances, it may be appropriate to remove them from the situation.

Receipt of Business Gifts

We are not permitted to accept or solicit any gifts, money, services or other inducements for personal gain, or the gain of family or friends.  The only exception to this is gifts of a trifling nature and value. 

Entertainment (Corporate)

If any employee is offered the opportunity to attend a corporate entertainment function, known more commonly as a “jolly” e.g. golf day or sporting/cultural occasion of any sort, by a business contact (customer, supplier etc.), they must disclose this information. If the Directors decide that the event is inappropriate, and could constitute an inducement or bribe, the employee or their Manager must explain why the invitation is being declined.

If any employee is permitted to attend corporate hospitality/entertainment events, then they are expected to conduct themselves in a professional manner, so as not to bring the Company into disrepute, and they should show restraint about getting involved in activities that may be deemed unsuitable by the company.

Entertaining

Expenditure should be authorised in advance and be reasonable. All entertainment should be suitably appropriate and conducted by our employees in a professional manner. Invoices and/or business receipts relating to entertaining must have details of who was being entertained and who they work for.

Implementation

Decisions as to what is acceptable may not always be easy. If any employee is in doubt as to whether a potential act constitutes bribery or corruption, the matter should be referred to a Director for guidance before proceeding.

 

The prevention, detection and reporting of bribery and corruption is the responsibility of all our employees at Beehive Coils Ltd.  Suitable channels of communication by which employees or others can confidentially report any suspicion of bribery or corruption are maintained.

 

Directors, Beehive Coils Ltd.

Anti-Bribery and Corruption Policy, issue 1 (01.04.2021)