EFIBCA Code of Conduct
The EFIBCA Code of Conduct is a voluntary agreement, through which member companies wish to guarantee particularly the observance of global demands on ethical and moral actions as well as the standards of proper conduct in the areas of competition and antitrust law (compliance).
The Code of Conduct covers fundamental legal requirements in the fields of competition and antitrust law, as well as internationally accepted ethical principles, such as the UN Human Rights Charter.
Implementing the EFIBCA Code of Conduct provides important benefits to corporations:
- Compliance issues are gaining importance, especially for medium-sized companies. Non-compliance with statutory regulations can put companies at risk. The consequences can range from reputation damage to indemnity claims and even criminal proceedings. In this context, the implementation of a Code of Conduct can help to reduce the liability risk for the company and its business executives.
- At the same time, the market expectations with regard to Corporate Social Responsibility are increasing. This involves voluntary acceptance of social and environmental standards that go beyond statutory obligations. A Code of Conduct is an appropriate way to explicitly cite some basic ethical principles your company is committed to.
- Business partners may sometimes expect other companies to accept their code of conduct when a contract is concluded. If a company agrees to this, the business partner’s code will form part of the civil law relationship between the parties. This may also involve consequences under liability law and should therefore be avoided. If both contracting parties have their own codes of conduct, the problem can be solved by way of mutual recognition.
- As a branch codex, the acceptance of the EFIBCA Code of Conduct on the market may be higher than of individual company codes. The credibility of the EFIBCA Code of Conduct is particularly increased through the opportunity of a certification.
The EFIBCA Code of Conduct is for EFIBCA members only. If you wish to receive more information please send an email to firstname.lastname@example.org.