According to the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (21.11.1997, Paris) and OECD Council Recommendation on Bribery and Officially Supported Export Credits (14.12.2006), State Development Corporation VEB.RF takes actions aimed at combating bribery of foreign public officials in officially supported export credits.
Actions aimed at combating bribery are taken before the export credit (transaction) is provided, as well as after the export credit is provided.
VEB.RF requests Applicant (Payee)/Exporter confirmations, including:
- Applicant/Exporter is aware of legal consequences of bribery in international business transactions under its national legal system including its national laws prohibiting such bribery; particularly for Applicants/Exporters registered in Russian Federation, - that they are aware of provisions of article 19.28 of Code of Administrative Offences of the Russian Federation, articles 291 and 291.1 of Criminal Code of the Russian Federation.
- Applicant/Exporter will take all appropriate measures to develop, apply and document management control systems that combat bribery.
- Neither Applicant/Exporter nor anyone acting on his behalf have been engaged or will engage in bribery in the course of the transaction.
- Applicant/Exporter has never been included in a list or registry of international organizations such as World Bank, African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, as a company which activities have been considered by these international organizations non-compliant with international law, standard business practice, including intergovernmental agreements, regulations, etc.
- Neither Applicant/Exporter nor anyone acting on his behalf in connection with the transaction are currently under charge of a competent authority for violation of laws against bribery of foreign public officials of any country or, within a five-year period preceding the provision of confirmation to the Agency, has not been convicted by a competent authority or been subject to equivalent administrative measures for violation of laws against bribery of foreign public officials of any country.
- Applicant/Exporter agrees to disclose upon demand the information about the identity of persons acting on his behalf in connection with the transaction, as well as information about the amount and purpose of commissions and fees paid, or agreed to be paid, to such persons.
Additionally, VEB.RF verifies whether Applicant/Exporter is listed on the publicly available debarment lists published by international financial institutions (World Bank, African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank).
If before the export credit is provided VEB.RF gets information which gives reasons to believe that bribery may be involved in the transaction, VEB.RF may undertake enhanced due diligence. If there is credible evidence of bribery in the transaction, VEB.RF informs the law enforcement authorities of Russian Federation.
The decision to provide the export credit is suspended until the decision on fact of bribery (whether it exists or not) is taken by the competent authority. In case the fact of bribery is proven by the competent authorities, VEB.RF will refuse to provide the export credit.
If after the export credit is provided there are reasons to believe that bribery may be involved in the transaction, or it is found that Exporter/Payee is listed on the publicly available debarment lists of the international financial institutions, or in case if either Exporter or Payee or anyone acting on their behalf in connection with the transaction are under charge of a competent authority for violation of laws against bribery of foreign public officials of any country, or in case if either Exporter or Payee has intentionally provided false information in the process of application for export credit, the enhanced due diligence is undertaken.
If there is credible evidence of bribery in the transaction, VEB.RF informs the law enforcement authorities of Russian Federation.
During the period after informing the law enforcement authorities of Russian Federation about the credible evidence and until the end of investigation by the competent authorities, VEB.RF has a right to decide to suspend providing the export credit payments.
If after the export credit is provided the fact of bribery in the transaction is proven by the competent authorities in accordance with the established legal procedures, VEB.RF may take the following actions:
- decide to stop payments under the export credit;
- refund the payments already made under the export credit, including losses incurred;
- inform the law enforcement authorities of Russian Federation about the fact of bribery proven in accordance with the established legal procedures in case the fact was proven abroad;
- take decision to terminate the export credit unilaterally.
VEB.RF takes actions aimed at combating bribery of foreign public officials in accordance with the Procedure on anti-corruption expertise of officially supported export credits adopted by VEB.RF’s order of 30.06.2014 № 585 (with further amendments) which was developed in compliance with OECD Council Recommendation on Bribery and Officially Supported Export Credits.