Common use of Anti-Bribery, Corruption and Sanctions Clause in Contracts

Anti-Bribery, Corruption and Sanctions. The Sub Agent will ensure that at all times it complies with all applicable laws, statutes and regulations relating to anti-bribery and corruption. In particular, the Sub Agent shall comply with the Xxxxxxx Xxx 0000 of the United Kingdom. The Sub Agent will ensure that it has in place and maintains adequate policies and procedures to prevent the Sub Agent, and protect the Underwriting Agent, from being exposed to a bribery or corruption event. Current anti-money laundering regulations require the Underwriting Agent to obtain adequate “Know Your Client” information about the Sub Agent. In order to prevent bribery, corruption or other financial crime, additional due diligence may be carried out. Further steps may be taken which include status and credit checks using credit reference agencies, and other background checking, as deemed appropriate. Each party will conduct appropriate due diligence and screening against applicable financial sanctions target lists (e.g. UK, EU, UN and US), and have systems and controls in place to prevent participation in activities which would place the Sub Agent and/or the Underwriting Agent in breach of financial sanctions legislation. Insurance cover and the parties involved in its provision or arrangement, may be, or may become subject to sanctions legislation. In such circumstances, Insurance cover, associated payments and transactions may be prohibited or subject to restrictions. The Sub Agent remains responsible for maintaining effective systems and controls to ensure it does not participate in activity which breaches financial sanctions legislation.

Anti-Bribery, Corruption and Sanctions. The Sub Agent Each Party will ensure that at all times it complies with all applicable laws, statutes and regulations relating to anti-bribery and corruption. In particular, the Sub Agent shall comply with the Xxxxxxx Xxx 0000 Bribery Act 2010 of the United Kingdom. The Sub Agent will ensure that it has in place and maintains adequate policies and procedures to prevent the Sub Agent, and protect the Underwriting Agent, from being exposed to a bribery or corruption event. Current anti-money laundering regulations require the Underwriting Agent to obtain adequate “Know Your Client” information about the Sub Agent. In order to prevent bribery, corruption or other financial crime, additional due diligence may be carried out. Further steps may be taken which include status and credit checks using credit reference agencies, and other background checking, as deemed appropriate. Each party will conduct appropriate due diligence and screening against applicable financial sanctions target lists (e.g. UK, EU, UN and US), and have systems and controls in place to prevent participation in activities which would place the Sub Agent and/or the Underwriting Agent in breach of financial sanctions legislation. Insurance cover and the parties involved in its provision or arrangement, may be, or may become subject to sanctions legislation. In such circumstances, Insurance cover, associated payments and transactions may be prohibited or subject to restrictions. The Sub Agent remains responsible for maintaining effective systems and controls to ensure it does not participate in activity which breaches financial sanctions legislation.