Kernel shared its counterparties check practice
The Kernel company carries out a comprehensive security check to assess corruption and compliance risks before the start of cooperation with the new counterparties.
“The first stage includes the verification of compliance by the business partner of the economic sanctions regime. Next, we check the legality and transparency of doing business, trustworthiness, reputation, compliance service, activity in supporting government initiatives, and negative information in the media. When concluding contracts, counterparties are invited to include the Anti-Corruption Clause in the contract texts, which contains bilateral obligations and guarantees of compliance with legal requirements,” said Kernel compliance manager Alena Dubovskaya.
It is noted that the company generated a single database for checking counterparties where all the audit results are contained.
"In the process of cooperation, it can be supplemented with such facts as non-fulfillment of contractual obligations to the company's enterprises, unfair competition, provision of undue benefits to employees, etc. The company's employee who plans to contact a business partner can see the results of the audit and the history of interaction with a specific business partner,“ Alena Dubovskaya commented.
In particular, the basic principles and rules for the interaction with business partners are declared in Kernel's Corporate Code and the Policy on the Management of Conflict of Interest and the Prevention of Corruption and Fraud.
