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Anti-Bribery Policy Socialization at PT VADS Indonesia
10 September 2024
As a company that prioritizes integrity and good governance, PT VADS Indonesia is committed to enforcing a strict and consistent anti-bribery policy. This policy is part of the implementation of the Anti-Bribery Management System (ABMS) in accordance with the Indonesian National Standards (SNI) and the applicable laws in the Republic of Indonesia.
Anti-Bribery Statement
PT VADS Indonesia upholds its anti-bribery stance by implementing the 4 NO’s principles in all its business activities and operations. These principles are:
- No Bribery – Rejecting all forms of bribery, extortion, or coercion.
- No Kickback – Prohibiting the acceptance or giving of commissions, gratuities, or any form of incentive.
- No Gift – Banning the acceptance of inappropriate gifts.
- No Luxurious Hospitality – Ensuring simplicity in hospitality and avoiding extravagant receptions.
By adhering to these principles, PT VADS Indonesia commits to maintaining integrity and ensuring that all business relationships are free from bribery.
Zero Tolerance for Violations
The company enforces a zero-tolerance policy against any form of violation related to corruption, particularly bribery. Any actions that violate the laws on corruption eradication will be addressed in accordance with the applicable regulations.
Implementation and Monitoring
As part of this anti-bribery policy, PT VADS Indonesia ensures that all employees and stakeholders comply with the following:
- The Company’s Code of Conduct
- Core Values
- The 4 NO’s Principles
The company also regulates potential conflicts of interest among employees. Any conflict that poses a potential risk must be declared and addressed according to the company’s policies.
Regular Training and Education
PT VADS Indonesia conducts regular training and socialization sessions on corruption prevention, the application of the 4 NO’s principles, and business integrity development. These training sessions are designed to ensure that all employees are fully aware of the importance of maintaining integrity in all activities.
Independent Anti-Bribery Compliance Function
The company has established an Independent Anti-Bribery Compliance Function, responsible for overseeing the implementation of this policy. This function actively ensures that all business processes align with the principles of integrity.
Sanctions and Actions
Any violation of the Code of Conduct or the 4 NO’s principles will result in sanctions in accordance with company policies. PT VADS Indonesia enforces strict consequences for anyone found engaging in activities that are inconsistent with this anti-bribery policy.
Adherence to Regulations
This policy is grounded in various legal frameworks in Indonesia, including:
- KPK Regulation No. 2 of 2019 on Gratification Reporting
- Law No. 20 of 2001 on the Eradication of Corruption
- Law No. 11 of 1980 on Bribery
- ISO 37001:2016 on Anti-Bribery Management Systems
As part of TM ONE, PT VADS Indonesia also refers to the Parent Company’s Code of Conduct to ensure that all operations adhere to high standards of business ethics.
By implementing this anti-bribery policy, PT VADS Indonesia is committed to continuously enhancing transparency and accountability in all its business processes, thereby maintaining the trust and reputation of its clients and stakeholders.
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