Anti-Bribery and Corruption Policy

Preamble

SAVIC is a highly respectable and recognizable organization. It has gained its name and reputation among its competitors and consumers through its commitment to conducting business according to moral, ethical, and legal standards.

The company does not allow or tolerate any kind of bribery and corruption. This policy discourages and prohibits any form of bribe or corrupt practice with any stakeholder, including customers, government officials, business partners, or third parties.

Objective

This policy outlines the company's moral and legal responsibility to counter bribery and corruption and provides tools and methods to maintain checks and balances on such practices.

Corruption

For the purpose of this policy, bribery offenses include bribes, kickbacks, extortion, active bribery, passive bribery, or inducement of any kind.

Penalty

Violation of this policy is strictly prohibited. Any employee found in violation may face severe civil and criminal penalties in addition to disciplinary proceedings.

Scope

This policy applies to all employees, directors, officers, and any third party directly engaged with our business. It also applies to any subsidiary, branch office, or liaison office of the company, regardless of location.

Applicable Laws

This policy is governed by applicable anti-corruption and anti-bribery laws.

Prohibition of Bribery

• Employees are prohibited from offering, promising, or sanctioning any payment to government officials to secure improper business advantage or influence official actions.
• The company prohibits employees from taking any improper gain or advantage from private entities through unlawful means.

Employees must obtain company approval before advancing any item of value to any government official or private entity.

Donations must not be used to gain unfair advantage or influence any person. Any charitable gesture or donation must follow proper internal procedure.

Funds used to promote or demonstrate company products or services must not be used to influence normal official functioning. Prior approval from the concerned department is required.

It is strictly prohibited to employ any government official, private entity employee, or their relatives to gain undue benefit. If such employment is necessary, prior approval from the company's legal counsel is required.

Political contributions intended to influence government officials are strictly prohibited and must follow the proper channel defined in separate policy.

Third parties associated with the company are strictly prohibited from engaging in corrupt practices on behalf of the company.

All payments to third parties for services must be properly recorded and supported by evidence. Interactions with government officials on behalf of the company must also be documented.

All third parties are required to complete due diligence before engaging with government officials on behalf of the company.

To ensure compliance, the company may conduct periodic audits. All employees, directors, officers, and stakeholders are expected to cooperate fully.

All directors, officers, employees, and stakeholders must report any violation of this policy to the company's legal team. Failure to report a known incident is also considered a violation and may lead to disciplinary action.