Business Ethics
We conduct our business with honesty, integrity and fairness, and expect the same from our customers.EDC views business ethics as fundamental to successful business practices. Operating ethically means, at a minimum, conducting its affairs in accordance with the letter and spirit of the applicable laws of the countries in which EDC does business.
Codes
Anti-Corruption Program
Human Rights
Applicable International Agreements and Principles
Codes
EDC has a Code of Conduct and Code of Business Ethics (PDF Format) that are actively promoted to the corporation’s employees and that are entrenched in its corporate values.
Anti-Corruption Program
Corruption in international business transactions is now universally recognized as a major impediment to economic development and prosperity. The member states of the Organization for Economic Co-operation and Development (OECD) passed the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions in 1997, to which Canada is a signatory. To fulfill its commitment under this Convention, Canada subsequently passed the Corruption of Foreign Public Officials Act. A guide to this Act is provided by Justice Canada.
In 1998, EDC formally articulated its policy with respect to bribery in its Code of Business Ethics (PDF Format). In 2000, the OECD Working Party on Export Credits and Credit Guarantees (ECG), of which EDC is a member, agreed on an Action Statement on Bribery and Officially Supported Export Credit. This statement was strengthened in 2006 and as a consequence, a letter (PDF format) was sent to all EDC customers apprising them of the changes.
In response to the OECD Convention, EDC developed an Anti-corruption Program which consists of processes, systems enhancements and documentary safeguards. Documentary safeguards include the requirement for applicants of EDC support to sign an anti-corruption declaration and/or representations and covenants. Moreover, EDC will debar any party that has been convicted of bribery until such time as it has been determined that the party has taken appropriate measures to deter further bribery.
More details on EDC’s policy to deter bribery are outlined in EDC’s Anti-corruption Policy Guidelines (PDF Format).
To build awareness about corruption among its customers, EDC developed an Anti-corruption brochure (PDF Format). The Brochure explains the challenges of avoiding corruption in international trade, and suggests actions companies might take to protect themselves.
General questions about EDC’s programs, policies or documents can be addressed to your EDC contact. However, we cannot provide legal advice or discuss application of the law to specific circumstances. If you have such questions, we recommend that you obtain advice from your legal counsel.
Human Rights
In accordance with its social responsibilities as a Crown corporation and as a good corporate citizen, EDC values and promotes the protection of internationally recognized human rights, consistent with the policies of the Government of Canada. Monitoring human rights is an ongoing function at EDC.
Applicable International Agreements and Principles
Companies operating abroad should be aware that EDC is subject to the following provisions and guidelines governing international trade:
