Common use of Anti-Bribery; Anti-Corruption Clause in Contracts

Anti-Bribery; Anti-Corruption. 24.1 The Parties undertake to take active steps against and/or the occurrence of fraud and/or corruption in all forms, including bribery and extortion. 24.2 Neither of the Parties shall tolerate offering, paying, soliciting or accepting bribes, ‘kickbacks’, facilitation payments or other prohibited payments or actions by its employees or the Party itself. 24.3 In the event that a Party receives a request for a bribe or are forced by means of extortion or otherwise to agree to give a bribe, the aforementioned actions shall be reported as soon as it is known to that Party to: 24.3.1 to the Executive Committee; and 24.3.2 the Board of the Client. 24.4 The Executive Committee and/or the Board of the Client shall, in its discretion, direct the Party on the course of action to be followed. It is specifically recorded that a breach of this clause 24 by either of the Parties shall constitute a breach of the Agreement and may lead to termination of this Agreement.

Anti-Bribery; Anti-Corruption. 24.1 27.1. The Parties undertake to take active steps against and/or the occurrence of fraud and/or corruption in all forms, including bribery and extortion. 24.2 27.1. Neither of the Parties shall tolerate offering, paying, soliciting or accepting bribes, ‘kickbacks’, facilitation payments or other prohibited payments or actions by its employees or the Party itself. 24.3 27.2. In the event that a Party receives a request for a bribe or are forced by means of extortion or otherwise to agree to give a bribe, the aforementioned actions shall be reported as soon as it is known to that Party to: 24.3.1 27.2.1. to the Executive Committee; and 24.3.2 27.2.2. the Board of the Client. 24.4 27.3. The Executive Committee and/or the Board of the Client shall, in its discretion, direct the Party on the course of action to be followed. It is specifically recorded that a breach of this clause 24 27 by either of the Parties shall constitute a breach of the Agreement and may lead to termination of this Agreement.