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Policy against bribery
EKN does not guarantee transactions where bribery is involved. The guarantee-holder could find that the guarantee ceases to be valid if it later emerges that the export transaction involved bribery.
EKN’s policy and procedures against corruption have been harmonised with those of other export credit agencies within the OECD.
When you apply for a guarantee you have to give following information in the application form:
- A declaration that neither the applicant, nor anyone acting on the applicant's behalf, has paid or will pay bribes or other unacceptable rewards to foreign ministers, members of parliament or public officials in connection with the export transaction to which the application relates. If the applicant is a bank, the exporter also must declaire this.
- If an agent has been involved in the export transaction, the applicant must disclose this relationship.
- The applicant must state whether the company is listed on any of the public available debarment lists of the Word Bank Group or the EBRD (European Bank for Reconstruction and Development).
- The applicant must state whether he is under charge in a national court, or within a five-year period preceding the aplication, has been convicted in a national court for violation of laws against bribery of foreign public officials of any country.
- A declaration that the exporter applying is aware that EKN’s obligation to honour for the guarantee may cease and that any indemnification already paid may have to be refunded if the export transaction turns out to have involved bribery. If the applicant is a bank, the exporter also must declaire this.
In addition EKN informs the parties involved about the legal consequences of breaking the Swedish law against bribery.
Published: Sep 10, 2010
Last updated: Nov 15, 2010