EXIMBANKA SR Framework for Combating Corruption and Bribery in International Trade
EXIMBANKA SR, as an export credit agency of the Slovak Republic – a member state of the OECD, is committed to responsibly apply the provisions of the framework against corruption and bribery in international trade in its business practice of supporting export activities of Slovak entrepreneurs.
“State export support in the form of financing, guarantees or insurance may not be provided in connection with an export contract, the preparation of which has been or is being carried out by. bribery and corruption occurs during its implementation, either directly or through third parties within the meaning of the provisions of the special provisions of Act No. 300/2005 Coll. of the Criminal Code and §49 of Act No. 513/1991 Coll. Commercial Code, as amended, and other relevant provisions under the Slovak law.“
In addition to the national legal regulation for the fight against corruption and bribery, the provisions of which EXIMBANKA SR is obliged to comply with, as a legal entity established by Act No. 80/1997 Coll. on the Export-Import Bank of the Slovak Republic, EXIMBANKA SR applies in particular the provisions of the OECD Council Recommendation on Combating Bribery and State Supported Export Credits and other relevant international sources, such as:
- OECD Council Recommendation on Combating Bribery of Foreign Public Officials in International Business Transactions,
- Convention on Combating Bribery of Foreign Public Officials in International Business Transactions,
- United Nations Convention against Corruption,
- OECD Guidelines for Multinational Enterprises.
Assessing the transaction for corruption and bribery risk
In the process of processing a client’s request for support through EXIMBANKA SR’s product portfolio, an individual assessment is made for each transaction in terms of its potential riskiness. In addition to the financial parameters, such an assessment must also include an assessment of the risk profile of the transaction in terms of its environmental, social and human rights impacts in the location of the final export, as well as compliance with all relevant legal provisions against corruption and bribery, money laundering and financing of terrorism.
For the purpose of individual assessment of the transaction, EXIMBANKA SR uses primarily the information provided by the applicant for support in the Declaration of Compliance with Legal Provisions against Corruption in International Trade, which is an integral part of each application for support through EXIMBANKA SR’s product portfolio. The declaration shall be completed by the exporter, the applicant, respectively. the relevant party, depending on the nature of the relevant EXIMBANKA SR product. EXIMBANKA SR is also entitled to request additional information from the exporter as necessary for the purpose of assessing the possible participation of the exporter, resp. of the applicant to bribery in international business transactions.
EXIMBANKA SR verifies the information provided in the Declaration in the context of publicly available lists of excluded organisations and individuals (debarment lists) of international financial institutions such as the World Bank Group, the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development or the Inter-American Development Bank, and also on the basis of internal and external documents and information from the National Contact Point for the OECD Guidelines for Multinational Enterprises (NCM), of which EXIMBANKA SR is a member, or from the National Contact Point for the OECD Guidelines for Multinational Enterprises (NCM), of which EXIMBANKA SR is a member, or from the National Contact Point for the OECD Guidelines for Multinational Enterprises (NCM), of which EXIMBANKA SR is a member. the relevant anti-corruption and anti-bribery authorities such as the Anti-Corruption Bureau of the Presidium of the Police Corps of the Slovak Republic, the Financial Administration of the Slovak Republic, etc.
“The provision of false or misleading information may, in the extreme case, lead to the classification of the act as an attempted credit fraud and, together with information relating to the suspected involvement of one of the parties to the transaction in bribery or other anti-social activity, reported to the relevant law enforcement authorities. “
EXIMBANKA SR is entitled to carry out the verification if:
1) exporters, applicants, respectively. other relevant parties have appeared on publicly available lists of excluded organisations and individuals of an international financial institution,
2) EXIMBANKA SR learns that exporters, applicants, resp. the relevant parties or anyone else acting on their behalf in connection with the transaction is currently under indictment in a national court or has been convicted in a national court or subject to equivalent national administrative action for violation of any country’s anti-bribery laws against foreign public officials within the five years prior to the application for support,
3) there are reasonable grounds to suspect that corruption or bribery may be involved in the transaction.
“EXIMBANKA SR has the right to refuse to draw the loan resp. payment of the claim if it is established that the information relating to corruption, bribery and other anti-social activities provided in the Declaration was false or misleading.”
In the event of a final conviction or equivalent national administrative action for violation of legislation against bribery of foreign public officials of any country within a period of five years, EXIMBANKA SR shall verify whether corrective and preventive measures have been implemented.
In order to take appropriate measures to prevent bribery in international trade transactions of state export promotion, the EXIMBANKA SR authorised to provide in its terms and conditions and contractual documentation to clients for the suspension of approval of an application, refusal to grant support or refusal to pay or reimburse damages or to request repayment of amounts granted depending on the type of EXIMBANKA SR product.