PREVALENT SCM Internal Principles for Compliance

Wide-spread connectivity, technological advances and globalization in all areas make life easier, but also require following of legal guidelines & rules. These play an important role in our daily transactions, decisions and actions. We at PREVALENT SCM, have put down principles for compliance that guide all these variables.

They showcase our commitment to legally compliant behavior and convey our values. We do not condone those who do not follow these principles.

We expect all our employees to follow these guidelines during daily work. They are also requested to act, should any infringement come to their notice.

  1. Broad Principles
  • The reputation of our company is dependent on the behavior of our employees. Our employees must make sure that they are not acting in ways that damage the reputation of PREVALENT SCM and have in a respectful & professional manner.
  • We ensure equality in selection, treatment and provision of opportunities when it comes to our employees. We do not discriminate basis religion, skin color, gender, ideology, background etc. Our employees are expected to follow the same.
  • We respect globally upheld human rights principles and adhere to them completely.
  1. Rights and Regulations

We dutifully follow the law and uphold every aspect of the constitution. We do not support illegal behavior as it impacts company reputation and has serious legal consequences.

  • Employees acting against the law will face internal disciplinary action along with legal implications & punishment.
  • In all cases of doubt, employees should clarify the situation with their superiors, the legal department or management.
  1. Product Safety, Occupational Safety and Environmental Protection
  • Employees and customer safety within our company premises and at our various project sites is of prime importance to us. Our products and services also must meet the highest standards in terms of safety & quality. We continuously monitor projects to abide by this principle.
  • We make sure employees are given safety equipment and function in a safe working environment. Safety regulations are to be observed strictly. Non-compliance, if any, must be reported immediately. If necessary, the said employee will be duly penalized.
  • Our work on-site is also subject to site-specific regulations and all employees are expected to follow these.
  • Management personnel are responsible for ensuring safety compliance.
  • We value focus on economical use of resources, sustainability, and protecting the environment.
  1. Intellectual Property and Protection of Corporate Assets
  • Our innovative expertise in logistics & supply chain is an essential component of our success. As a technology driven company, it bodes us well to protect all intellectual properties and innovations. Requisite measures are taken to protect this from prying competition.
  • We take care of physical properties such as vehicles, furniture’s and tools properly. Unless authorized in writing, we do not allow usage of company property for private purposes.
  • We take care of financial resources responsibly. We also take business decisions after carefully assessing the requirements and commercially considering the cost & benefit, while being considerate to all stakeholders involved.
  1. Business Secrets and Data Privacy
  • We uphold the need to protect confidential information that is shared with us by our business partners. We should exercise discretion when handling this information and avoid breaching the confidentially. Doing so will have serious legal implications.
  • We allow sharing of proprietary business knowledge with colleagues only to the extent that is required to conduct our business competitively.
  • We view the personal data of our employees and contractual partners as sensitive personal information and therefore handle it in a confidential manner.
  1. Competition
  • We uphold fair competition and it is what drives us to do more. This helps us develop the best solutions for our customers and making us a desirable employer.
  • We follow laws that uphold fair competition. We do not interact with other market players on price fixing, allocation of clients etc. These are considered violations by the antitrust authorities.
  1. International Trade
  • We have a global approach with our business activities. We observe all regulations in laws with respect to trade across borders and laws pertaining to countries of operation. We observe all applicable import & export restrictions, requirement for permits and payment of customs duties. Employees are expected to note that high penalties apply in case of infringements.
  1. Taxes
  • We observe all obligations in case of taxes. We prohibit any illegal withholding of taxes.
  • We acknowledge that tax authorities need to check on tax compliance through regular tax audits. We do not support any activity that can obstruct processes of such institutions. During any assessment, should an employee face any doubt, they are encouraged to approach his or her superiors.
  1. Bribes & Gifts
  • We discourage giving or acceptance of bribery in any form- cash or kind as we don’t need such immoral means to succeed. This includes giving bribes to business partners, stakeholders and public officials. Similarly, acceptance even if concealed by the receiver, is strictly prohibited. In cases of doubt, an employee may seek approval of their managers.
  • All commissions, payments and reimbursements to agents and dealers must only be made for completely delivered services and should be routed through the company’s financial department only.
  1. Conflict of Interest
  • Employee loyalty is of utmost importance to the success & longevity of our company. We clearly distinguish between business and private interests. Employees are encouraged to recognize in a timely manner, any activity which may seem to be conflicting with the interest of the company.
  • Employees are deemed to have acknowledged that they would be solely working for PREVALENT SCM. It is understood that some employees may seek secondary sources of income. However, any secondary job requires prior permission so that any conflict or competition issues can be ruled out.
  • Employees are also notified that selection of vendors, suppliers and all other outsourcing work is done solely based on competency and not based on personal likes or personal benefits. To further this in execution, all such appointments and transactions are to be conducted as per the standard operating procedure. All documentation should be correct in terms of facts & figures and should be stored in printed form. It must be ensured that this information is stored so that it is accessible for at least the retention period required by law.
  1. Management Culture and Cooperation
  • As a culture, we promote mutual respect among all employees. Hence, in all interactions, it is required of the employee to avoid prejudice, listen earnestly to each other’s opinions and be ready to question the views we hold.
  • Management personnel serve a as role model to employees and thus it is important that they ensure complete compliance with guidelines. They are also the first point of contact for all questions that employees may have with respect to the guidelines.
  • Apart from compliance, management personnel are also responsible for mentoring his or her subordinates by helping them set realistic goals in line with the company’s objectives. Further they are expected to help & guide them to achieve the same and reward achievements as applicable.
  1. Scope of Validity, Implementation, and Sustainability
  • These principles for compliance are binding for all companies in the PREVALENT SCM Group and its employees worldwide. In case of country-specific regulations applicable to set-ups in other countries, these guidelines would be applicable in a complementary manner to these rules and regulations.
  • Employees are expected to note that violation of the stated principles for compliance in any form will not be tolerated and will result in strict disciplinary measures. Any evidence indicating violation will be thoroughly investigated. In case any employee happens to notice a violation, it can be reported to the relevant superior, management, legal department, worker’s council etc. as appropriate. The employee can also write an email to compliance@PREVALENTSCM.de to report violations.