Commitment of the Ducroire in combating bribery

The Ducroire commits itself to combat bribery and to undertake enhanced due diligence in the treatment of a file:

  • if the exporter and, where appropriate, the applicant, appears on the publicly available debarment lists of one of the following international financial institutions: World Bank Group, African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development and the Inter-American Development Bank;

  • or if the Ducroire becomes aware that the exporter and, where appropriate, the applicant or anyone acting on their behalf in connection with the transaction, is currently prosecuted before a national court, or, during the five years preceding the application, was sentenced by a national court or has been subject to equivalent national administrative measures for violation of laws against bribery of foreign public officials of any country;

  • or if the Ducroire has reason to believe that bribery may be involved in the transaction.

 

If, before credit, cover or other support has been approved, there is credible evidence(1) that bribery was involved in the award or execution of the export contract, the Ducroire suspends the approval of the application during the enhanced due diligence process. If the enhanced due diligence concludes that bribery was involved in the transaction, the Ducroire will refuse to approve credit, cover or other support.

 

If, after credit, cover or other support has been approved, bribery has been proven, the Ducroire will take appropriate action, ranking from the nullity of the insurance contract with the denial of payment, indemnification, or refund of sums provided, to the exclusion of any future official support.

 


(1)As defined in the Anti-Bribery Convention of the OECD from 21 November 1997.

 

 

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