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Article 17
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(Ethical management evaluation prior to development of commercial relationships)
Before developing a commercial relationship with another party, such as an agent, supplier, customer, or other counterparty in commercial dealings, this Corporation shall evaluate the legality and ethical management policy of the party and ascertain whether the party has a record of involvement in unethical conduct, in order to ensure that the party conducts business in a fair and transparent manner and will not request, offer, or take bribes.
When this Corporation carries out the evaluation under the preceding paragraph, it may adopt appropriate audit procedures for a review of the counterparty with which it will have commercial dealings with respect to the following matters, in order to gain a comprehensive knowledge of its ethical management:
- The enterprise's nationality, location of business operations, organizational structure, and management policy, and place where it will make payment.
- Whether the enterprise has adopted an ethical management policy, and the status of its implementation.
- Whether enterprise's business operations are located in a country with a high risk of corruption.
- Whether the business operated by the enterprise is in an industry with a high risk of bribery.
- The long-term business condition and degree of goodwill of the enterprise.
- Consultation with the enterprise's business partners on their opinion of the enterprise.
- Whether the enterprise has a record of involvement in unethical conduct such as bribery or illegal political contributions.
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