Anti-Bribery Measures

The OECD Working Party on Export Credits and Credit Guarantees adopted an Action Statement on Bribery and Officially Supported Export Credits in December 2000. A new OECD Recommendation OECD Council Recommendation on Bribery and Officially Supported Export Credits has been adopted by the OECD Council in December 2006 to strengthen the measures for combating bribery in international business transactions.

As the official Finnish Export Credit Agency (ECA) Finnvera is committed to implement the measures required by the Recommendation. Finnvera requires the exporter and the lender as beneficiary of the guarantee to sign an anti-bribery declaration. The exporter shall also commit to refund Finnvera the possible indemnification if bribery has been proven.

Finnvera requires anti-bribery declarations to be signed also in connection with short term export transactions.

Main requirements of the Recommendation

• The Official ECA shall
  (i) inform the exporter and the lender about the legal consequences of bribery in international business transactions under its national legal system (Chapter 16, sections 13, 14 and 20 of the Finnish Penal Code), and
  (ii)encourage the exporter and the lender to develop, apply and document appropriate anti-bribery management control systems.
• If there is credible evidence that bribery was involved in the award of the export contract, the ECA shall refuse credit, cover and other support.
• If there is credible evidence that bribery was involved, the ECA shall inform the relevant national authorities promptly.
• If bribery has been proven after credit, cover or other support has been approved, the ECA shall take appropriate actions, such as denial of indemnification, or refund of sums provided.
• The exporter and the lender shall sign an anti-bribery declaration stating that neither they, nor anyone acting on their behalf, have been engaged or will engage in bribery in the export transaction.
• The exporter and the lender shall confirm that they have not been listed on the publicly available debarment lists of the following international financial institutions: World Bank Group, African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, and Inter-American Development Bank.

The following debarments lists of World Bank Group and European Bank for Reconstruction and Development are publicly available.

Attachments:
OECD Council Recommendation
Anti-Bribery Declaration of the Exporter
Anti-Bribery Declaration of the Guarantee Holder