Anti-Bribery & Corruption Policy

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Objectives:

NIST Institute Private Limited is committed to prevent and detect any fraud, bribery or corrupt business practices. It is NIST’s policy to conduct business with honesty and the highest ethical standards and also enforce business activities without engaging in corruption or bribery.

Scope & Applicability:

This policy of Anti-bribery and Anti-corruption applies to all individuals working for NIST throughout India, including consultants, employees, casual workers, contractors, agents or any other person associated with NIST.

What is Bribe & Corruption?

A bribe is any payment, inducement, advantage or reward offered, provided or promised to any individual in order to gain personal or commercial advantage. It is said to be illegal to offer or receive a bribe directly or indirectly. A bribe may not be just money; it can be anything that has a value - gifts, entertainment, sexual favors, offering employment, donation or contribution, etc.

Corruption is associated with bribery and results from patronage. Corruption is considered to be a dishonest or criminal activity undertaken by an individual or an organization invested with a position of authority.

What is not acceptable?

It is not acceptable for any NIST employee to:

  1. Promise to give, offer a payment, hospitality to secure, gift, or entertain an improper business advantage;
  2. Promise to give, offer a payment, hospitality to secure, gift a government agent, official or representative to expedite or facilitate a routine procedure.
  3. Accept any payment, gift, advantage, hospitality or gift from a third party that is offered with the expectation that will gain a business advantage for them;
  4. Threaten or retaliate against an employee who showed no interest to commit a bribery offence or who has raised any concerns under this policy;
  5. Engage in an activity that leads to a breach of this policy.

Gifts & Hospitality:

The practice of gifting and hospitality plays a vital part in any business. However, it is certainly prohibited if they are in the form of bribes. To avoid such an offence, any unethical or illegal gift or hospitality that involves cash or cash equivalent should not be accepted. A gift or hospitality should always be justifiable or reasonable in all the circumstances.

Facilitation Payments and Kickbacks:

Facilitation payments are unofficial payments made to expedite a routine action. Kickbacks are the return payments for a business favor. You are expected to avoid any activity that leads to facilitation payments or kickbacks being paid or accepted.

Donations:

The company will make donations that are ethical and complies with this policy. No donation should be made that will breach any section of this policy.

How to raise a concern?

Employees of NIST are encouraged to raise their concerns about any suspicion of malpractice or bribery issue at the earliest stage. If he/ she is not sure whether a particular act comprises bribery or corruption, an enquiry can be raised with the HR team via hr@nistinstitute.com

What to do if you are a victim of Bribery or Corruption?

It is his/her responsibility to report to the HR team via hr@nistinstitute.com if you are offered a bribe, asked to make one, or believe that you are a victim of any form of corruption or unlawful activity. In any such situation, you must explain our anti-bribery and corruption policy against accepting or making payment and convey that refusal is non-negotiable and final according to this policy. Seek assistance from your HR, if you face any difficulties to refuse.

Who is responsible for the Policy?

Our board of directors is responsible to ensure that policy complies with all our legal and ethical obligations and all those under will comply with it. The human resource team will be responsible to implement and monitor this policy on a day to day basis. Managers should ensure that members reporting to them are made aware of this policy, undertake training, implement and adhere to the policy. This policy applies to all employees of NIST who are also responsible for its success.

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