Common use of GIFTS AND GRATUITIES Clause in Contracts

GIFTS AND GRATUITIES. It is considered to be in conflict with the Company’s interest for its employees or any member of their immediate family to accept gifts, payments, extravagant entertainment, services, or loans in any form from anyone soliciting business, or who may already have established business relations with the Company. Gifts of nominal value and entertainment, meals, and social invitations that are customary and proper under the circumstances and do not place the recipient under obligation are acceptable. If any employee of the Company should solicit a gift or gratuity from the Contractor, Contractor hereby agrees to notify an officer of the Company of such act. It is agreed that the Company will hold such notification in confidence. It is further understood that failure by the Contractor to comply with the Company’s policies regarding gifts and gratuities may, at the Company’s option, result in the termination of this Contract and may further preclude any future dealings between the parties.

GIFTS AND GRATUITIES. It is considered to be in conflict with the Company’s 's interest for its employees or any member of their immediate family to accept gifts, payments, extravagant entertainment, services, or loans in any form from anyone soliciting business, or who may already have established business relations with the Company. Gifts of nominal value and entertainment, meals, and social invitations that are customary and proper under the circumstances and do not place the recipient under obligation are acceptable. If any employee of the Company should solicit a gift or gratuity from the Contractor, Contractor hereby agrees to notify an officer of the Company of such act. It is agreed that the Company will hold such notification in confidence. It is further understood that failure by the Contractor to comply with the Company’s 's policies regarding gifts and gratuities may, at the Company’s 's option, result in the termination of this Contract and may further preclude any future dealings between the parties.