Anti-Corruption Policy
As part of our commitment to ethics and integrity, World Oil Tools has
adopted a zero tolerance policy against corruption of any sort.
No employee or Agent/Representative can ever make, accept or offer any improper payment while conducting business for World Oil Tools. We will act in accordance with all international laws, treaties and regulations that describe specific acts of corruption. World Oil Tools employees, agents and representatives will act according to the letter and the spirit of these laws and regulations to prevent corruption.
As role models for our business communities, we will follow these laws wherever we do business, regardless of local customs.
Anti-corruption laws are complex, and the consequences for violating these laws are quite severe. Accordingly, we will constantly coach our people to avoid any activity which might be construed as bribery or seen to be corrupt. We must not only act correctly; we must be seen to act correctly in order to avoid any impropriety or the appearance of any impropriety.
We must never be in a position where we can be held accountable because “we should have known” that an individual or an action was corrupt.
Examples of ‘Corruption’
- Bribery – the offering, giving, receiving, or soliciting of any item
of value to influence the actions of an official or other person in charge
of an activity or process. The bribe is the gift bestowed to influence
that person's conduct. It may be money, product, preferential treatment,
property, advantage, or merely a promise or undertaking to induce or influence
the action, vote, or influence of a person in an official capacity.
- Kickbacks - is the return of a sum already paid or due to be paid as a reward for awarding or fostering business.
Trade Controls
As a global company, we deliver our products, services, and technology all over the world in many different countries. It is very important that we follow all national and international rules and regulations that apply to our activities.
Some countries and organizations such as the United Nations maintain trade sanctions or embargoes that restrict transactions with certain countries, and for certain end-uses such as chemical or nuclear weapons. In order to ensure we comply with these requirements, we will constantly review our international transactions for evidence of any prohibited end-destination, end-user, or end-use.
Before engaging in exports, we must:
- classify our products, services and technology to determine whether any special permission is required;
- verify the eligibility of the delivery location, the recipients of the items and the purpose to which they will put our items to make sure no prohibited end-destination, end-user, or end-use is implicated;
- apply for and obtain all necessary permissions.
Non-Compliance
World Oil Tools Inc. has every intention of adhering to the spirit and the letter of this policy. Any contradictory action will be grounds for instant termination as an employee or as an Agent/Representative.
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