Prevention of Bribery
The Federal Government insists on export business being transacted free of bribery because it considers this to be a very important aspect of sustainability. For this reason, the following applies in connection with the granting of export credit guarantees:
- No export credit guarantees will be granted for export transactions or loan agreements the conclusion of which involved any criminal acts such as e.g. bribery.
- If it is subsequently proven that bribery was involved, the Federal Government can invoke relief from liability pursuant to the General Terms and Conditions of cover.
Within the framework of the OECD the Federal Government actively contributed to the development of agreed common principles for combating bribery in officially supported export transactions and played a significant role in shaping them in order to help create transparent and fair economic and competitive conditions.
Bribery is defined as the offering, giving or accepting anything of value for the purpose of influencing an official act or a business decision.
The Federal Republic of Germany implemented the OECD recommendations on the prevention and combating of bribery in a two-step process:
1. standard declaration on the prevention of bribery
- Exporters and banks must sign a declaration on the prevention of bribery in connection with each application for an export credit guarantee they submit; this declaration constitutes a necessary part of the application.
2. in-depth examination of individual cases
- If indications emerge from this declaration or any other sources that there may have been corruption-related incidents, a detailed examination will be performed in a second step. Within the framework of this so-called in-depth examination of corruption-relevant facts, inter alia, in-house measures, processes and structures implemented to prevent and combat bribery will be analysed. In addition, a closer look will be taken at the circumstances under which the transaction was concluded and any commission and remuneration payments made will be examined.