28
Phillips Infrastructure Holdings / PIH / Code of Ethics and Business Conduct
Anti-corruption and Bribery We believe that all forms of bribery and other corrupt practices are an inappropriate way to conduct business regardless of local customs. We are committed to complying with all applicable anti-corruption laws. We do not pay or accept bribes or kickbacks, at any time for any reason. This applies equally to any person or firm who represents our Company. The only possible exception is if a potentially improper payment is necessary to protect an individual’s health or safety. In such a situation, you should immediately report the payment to our Corporate Compliance and Ethics Officer. Key Definitions – Bribery, Corruption, and Facilitation Payments Bribery means giving or receiving anything of value (or offering to do so) in order to obtain business, financial, or commercial advantage. Corruption is the abuse of an entrusted power for private gain. Facilitation payments are typically small payments to a low-level government official that are intended to encourage the official to perform his responsibilities.
It is especially important that we exercise due diligence and carefully monitor third parties acting on our behalf. We carefully screen all third parties, including subcontractors, consultants, and vendors who work on our Company’s behalf and in any situations where “red flags” would indicate further screening is needed before retaining the third party. Third parties must understand that they are required to operate in strict compliance with our standards and to maintain accurate records of all transactions.
Do What’s Right
• Never give anything of value inconsistent with local laws and
regulations to any government official. If you are not sure of the local laws, the safest course of action is to not give anything of value. • Understand the standards set forth under anti-bribery laws which apply to your role at the Company. • Accurately and completely record all payments to third parties.
Be Aware Of
• Apparent violations of anti-bribery laws by our business partners. • Agents who do not wish to have all terms of their engagement with the Company clearly documented in writing.
Made with FlippingBook - Online catalogs