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Anti – Bribery Policies of EXIMBANKA SR

Anti – Bribery Policies of EXIMBANKA SR

Framework of EXIMBANKA SR for Combating Corruption and Bribery in International Trade

EXIMBANKA SR as official Export-Credit Agency of the Slovak Republic, an OECD member state, has committed itself to support the export activities of Slovak entrepreneurs in responsible manner applying provisions of the framework of the fight against corruption and bribery in international trade.

'Official export support in the form of financing, guarantees or insurance shall not be granted for transactions, where bribery was involved in the award, preparation or execution of the export contract, either directly or through third parties, in line with the provisions of the regulations of Act No. 300/2005 Coll. of the Penal Code and §49 of Act no. 513/1991 Coll. of the Commercial Code, as amended, and other relevant provisions of the legislature of the Slovak Republic.”

EXIMBANKA SR, as a legal entity established by Act No. 80/1997 Coll. on the Export-Import Bank of the Slovak Republic, is obliged to comply not only with provisions of the national legal regulation for the fight against corruption and bribery but at the same time with provisions of the OECD Recommendation on Bribery and Officially Supported Export Credits, as well as other relevant international sources such as:

  • Recommendation of the OECD Council on Combating Bribery of Foreign Public Officials in International Business Transactions,
  • The Convention on Combating Bribery of Foreign Public Officials in International Business Transactions,
  • United Nations Convention against Corruption,
  • OECD Guidelines for Multinational Enterprises.

Assessment of transaction from the perspective of bribery

At the stage of processing the client's application for support, EXIMBANKA SR performs individual screening and assessment for each transaction in terms of potential risks. Besides financial parameters, the assessment includes an review of the risk profile of the transaction in terms of its environmental, social and human rights impacts, as well as compliance with respective provisions for deterring bribery, corruption, money laundering and terrorist financing.

In order to perform individual transaction assessment, EXIMBANKA SR uses primarily the information provided by the applicant for support in the Declaration of Compliance with Legal Provisions Against Bribery in International Trade, being an integral part of each application for support of EXIMBANKA SR. The Declaration shall be filled-in by the exporter, applicant or relevant party, depending on the nature of the respective product of EXIMBANKA SR. EXIMBANKA SR is also entitled to request further information from the exporter, when appropriate, for the purpose of assessing the possible participation of the exporter, respectively, of the applicant or relevant parties in bribery.

EXIMBANKA SR reviews the information provided in the Declaration in the context of publicly available lists of excluded organizations and individuals (debarment lists) of international financial institutions such as the World Bank Group, African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development or Inter-American Development Bank, on the basis of internal and external data sources and information from the National Contact Point for OECD Guidelines for Multinational Enterprises (NCP), of which EXIMBANKA SR is a member, or relevant bodies of the fight against corruption and bribery as the Office of the Fight against Corruption of Presidium of the Police of the Slovak Republic, Financial Administration of the Slovak Republic.

“The provision of false or misleading information may lead to the classification of the act as an attempted credit fraud and, together with information related to the suspicion on involvement in a bribery or other criminal activity reported to the competent law enforcement authorities.”

EXIMBANKA SR is entitled to carry out enhanced due diligence if:

(1) exporters, applicants, and other relevant parties have appeared on publicly accessible lists of excluded organizations and individuals (debarment lists) from one of the International Financial Institutions,

2) EXIMBANKA SR finds out that exporters, applicants, relevant parties or anyone else acting on their behalf in respect of the transaction is currently charged by national court or has been convicted of a national court in the five years prior to the application for support or has been subject to equivalent national administrative measures for violating bribery laws of any country,

(3) there is reasonable suspicion that corruption or bribery may occur in the execution of the transaction.

EXIMBANKA SR has the right to refuse to draw down the loan, or payment of indemnification in case that information provided in Declaration concerning corruption, bribery and other criminal activity turns out to be false or misleading."

In the case of conviction or an equivalent national administrative measure for violation of the legislation against bribery of foreign public officials of any country for a period of five years, EXIMBANKA SR will examine whether appropriate corrective and preventive measures have been implemented.

In order to implement appropriate measures to prevent bribery in international trade transactions of state export support, EXIMBANKA SR is entitled to suspend the approval of the application, refuse to provide support or refuse payment of compensation or claim for reimbursement.

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