MMD’s Anti-bribery & Corruption Policy
Part of the solution – not part of the problem.
MMD (Mining Machinery Developments) recognises the profound effect all forms and all levels of bribery and corruption have on the fundamental democratic rule of law, economic growth in emerging economies and business operations in free markets.
The negative impact of bribery and corruption on socio-economic development, fair trade and a company’s reputation can also be vast.
Therefore MMD takes a zero-tolerance stance and is dedicated to the prevention, education and reporting of any kind of suspected bribery and corruption. We are fully committed to compliance with all applicable anti-corruption laws, including but not limited to the UK Bribery Act 2010 and the US Foreign Corrupt Practices Act 1977.
MMD is serious about conducting itself, in all jurisdictions in which it operates, in an honest, professional and ethical manner and competing fairly for business on the worldwide stage - providing products and services at reasonable prices, free from improper incentives for business dealings with others.
We do not only think this way but have also implemented and trained our staff to use effective systems and controls to tackle and stop bribery and corruption in its tracks.
We endeavour to:
- treat you, our clients and our employees, fairly;
- conduct our business in line with the latest anti-bribery and corruption legislation; and
- be transparent in our dealings in order to empower and promote ethical and moral standards.
We call on all organisations, businesses and governments to help become part of the solution and not part of the problem.
Is it easy to address? No, but it is definitely worth it!
Anti-bribery legislation covers transactions that take place anywhere in the world, in both the public and private sectors. Organisations can also commit an offence if they, or an associate, commit bribery on behalf of an entity to gain or retain a business advantage.
MMD can therefore be found guilty of an offence if it fails to prevent persons connected with the business (anyone who performs services for or on behalf of MMD) from either offering to pay or receive a bribe, either directly or indirectly.
It makes no difference whether an organisation had no knowledge of the bribe, or where in the world the bribery takes place. The only defence is whether the organisation can prove it had adequate procedures in place to prevent bribery.
MMD, through its board of directors, has taken the decision to adopt a proportionate and risk-based approach to anti-bribery and corruption legislation. Therefore, MMD will continue to implement the necessary training and education resulting from a bespoke Anti-bribery and Corruption policy.
What is Bribery?
Corruption is broadly defined as the abuse of entrusted power for private gain. Bribery, a form of corruption, is any financial or other advantage that is offered, provided, authorised, requested or received as an inducement or reward in order to gain any commercial, contractual, regulatory or personal advantage.
It is an offence to:
- bribe a person to induce or reward them to perform a relevant function improperly; or
- request, accept or receive a bribe as a reward for performing a relevant function improperly; or
- use a bribe to influence a Public Official to gain a business advantage.
Does this apply to you?
The scope of legislation and MMD’s Anti-bribery and Corruption policy applies to all individuals working for MMD at all levels within the organisation, including directors, senior managers, officers, employees (whether permanent, fixed-term or temporary), consultants and contractors as well as agents, business partners, resellers, suppliers or any other person associated with the company.
Proportionate procedures – Let’s get the job done right.
MMD has installed robust policies and procedures across the business to tackle bribery and prevent any form of corruption. These procedures are clear, practical, accessible and proportionate to the company's activities and the bribery and corruption risks it faces, depending on both the industry and geographical locations of the markets in which it operates. Our policies are here to prove our commitment to bribery prevention, mitigate specific risks and offer an overview of our anti-bribery implementation strategy.
Commitment from the top.
MMD’s directors and top-level management have an appropriate degree of involvement in developing anti-bribery procedures and effectively communicate these internally and externally, as well as promoting a culture where bribery is never considered acceptable.
Periodic and dynamic risk assessments.
Management regularly undertake and document periodic risk assessments of the nature and extent of the internal and external risks of bribery to which we are exposed. This helps to ensure that the entire MMD group and its employees will have an up-to-date understanding of the bribery risks we face.
Knowing our customers and partners.
For us, business is personal, and we care about our relational transparency. We have a clear policy on the selection of all employees and associated persons, including all our business partners and contracting parties.
Education. Full stop.
MMD’s anti-bribery policies and procedures are documented, communicated and understood throughout the business at all levels. This has been achieved by internal and external communication and tailored training to employees and other associated persons.
Clear Policies: up-to-date and accessible.
MMD continually monitors, reviews and keeps up-to-date its procedures to ensure that there is effective communication and implementation, and that its procedures are being consistently followed.
What is acceptable practice?
Genuine reasonable and appropriate hospitality, and promotional or other business expenditure that seeks to improve the image of a commercial organisation, better present products and services or establish cordial relations is recognised as an established part of doing business globally. However, such hospitality must always be proportionate, reasonable and justifiable; otherwise it may be considered a bribe.
In order to amount to a bribe, there must be an intention for a financial or other advantage to influence the third party in order to secure business or a business advantage.
The giving and receiving of gifts is allowed only if the following requirements are met:
- it is not made with the intention of influencing a third party to obtain or retain business or a business advantage, or to reward the provision or retention of business or a business advantage, or in explicit or implicit exchange for favours or benefits;
- it does not include cash or a cash equivalent (such as gift certificates or vouchers);
- it is appropriate in the circumstances, taking account of the reason for the gift, its timing and value; and
- it is given openly, not secretly, and it complies with any applicable local law.
MMD appreciates that the practice varies between countries and regions, and what may be normal and acceptable in one region may not be in another. The test to be applied is whether in all the circumstances the gift, hospitality or payment is reasonable and justifiable. The intention and motivation behind it should always be considered and documented.
What is NOT acceptable practice?
Any payments in excess of what would be regarded as reasonable in the circumstances or any suspicions should be brought to the attention of MMD management. This is vitally important where those payments (or potential payments) could be considered to constitute kickback payments made, for instance, to secure or speed-up a routine or necessary action.
If you see something, tell someone.
MMD encourages all its staff to raise any concerns, suspicions or even near misses about corruption with their compliance officers by following the MMD Anti-Bribery and Corruption and Whistleblowing policies and video. Employees should be able to take a stand against corruption if they see any “red flag” situations, and not fear that they will receive punishment if they use their voice. We respect any laws that aim to protect whistle-blowers and aim to create a safe environment within which our employees can responsibly disclose what they know. While we endeavour to protect our clients’ personal information and keep all communications confidential and privileged, we do not support or in any way protect corruption.
The prevention of bribery is the responsibility of all directors, senior managers, officers, employees (whether permanent, fixed-term or temporary), consultants and contractors as well as agents, business partners, resellers, suppliers or any other person associated with MMD. Any such persons who breach this policy will face disciplinary action, which could result in their dismissal for gross misconduct or in any contractual relationship being terminated summarily.
Prevention is better than cure.
Training on the importance of the Anti-bribery and Corruption policy is provided to all MMD staff, including during their induction period. Our passionate defence against all forms of bribery and corruption within the company is also communicated straight down from the board of the directors to all suppliers, contractors and business partners.
Training MMD staff to be vigilant in the fight against corruption is our best way of establishing a culture where it is normal to identify and report any bribery or corruption. This will ensure the effective implementation of our policies and make certain that the core business of MMD is able to grow correctly.
This is just the beginning…
MMD's compliance officers have the primary and day-to-day responsibility for implementing the Anti-bribery and Corruption policy, and for monitoring its use and effectiveness. Management at all levels are responsible for ensuring those reporting to them are made aware of, and understand, this policy.
MMD retains all financial records and has appropriate internal controls in place, which accurately demonstrate the business reason for payment transactions to third parties. There is also a process of declaration required for all gifts, entertainment or hospitality accepted and offered.
The MMD group has the ability to demonstrate a clear commitment to preventing bribery through the leadership of its management, and it has actively created and maintained a culture where bribery and corruption have no place within the business.
Finally, if you are reading this policy, you obviously care about this issue. Join us in the fight against corruption and let us all work towards a transparent and fairer free market.