Govur University Logo
--> --> --> -->
...

What must a contract include or forbid to make sure it follows laws that stop companies from paying bribes?



To ensure a contract follows laws that stop companies from paying bribes, it must include specific provisions that prohibit such actions and establish mechanisms for compliance and enforcement. Primarily, the contract must contain a clear anti-bribery covenant, which is a formal promise where each party explicitly agrees not to, directly or indirectly, offer, promise, give, or authorize anything of value to any government official or private person with the intent to improperly influence a decision, obtain or retain business, or secure any improper advantage. This covenant also requires parties to comply with all applicable anti-bribery and anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act. This directly forbids engaging in any form of bribery or corrupt payment. Relatedly, the contract should include representations and warranties, which are statements of fact made by one party that the other can rely upon. Here, each part....

Log in to view the answer



Redundant Elements