The following Practice Compliance precedent provides comprehensive and up to date legal information covering:
We run our business[es] with integrity. All of us must work together to ensure our business[es] remain[s]. untainted by bribery and corruption.
This FAQ document, which is integral to that effort, guides us on how we can best achieve our business goals in a way that is consistent with our commitment to counter bribery and corruption.
Agents and intermediaries are third parties engaged to provide services for or on behalf of [insert organisation’s name] or represent our interests.
They may include any and all:
third parties retained in relation to government business or actions
introducers, facilitators or other third parties who may provide services for or on behalf of [insert organisation’s name] in any capacity
Our [Agents and intermediaries policy] further describes and provides examples of agents and intermediaries.
Agents and intermediaries are ‘associated persons’ within the meaning of section 8 of the Bribery Act 2010 (BA 2010).
If an agent/intermediary bribes another person intending to obtain or retain business, or an advantage in the conduct of business for [insert organisation name], we will be guilty of an offence unless we can show we had adequate procedures designed to prevent bribery in place.
Bribery laws prohibit us from making payments to agents and intermediaries
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This Practice Note considers the different categories of contractual damages that may be available for financial loss (pecuniary loss), ie expectation-based damages, reliance-based damages and gains-based damages.For guidance on contractual damages generally, see Practice Note: Contractual
What is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual positions•the main grounds of
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. For guidance, see Practice Note: Coronavirus
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