New anti-corruption guidelines from the International Chamber of Commerce will provide guidance to enterprises on business ethics related to gifts and hospitality. The ICC Guidelines on Gifts and Hospitality offer recommendations on how to establish and maintain a policy on this particular issue, based on the most recent international, regional and national rules, as well as on commercial best practice.
Companies can be solicited to make gifts or provide hospitality while conducting commercial activities, or may wish to do so at their own initiative. While such practices are not per se illegal, they can, in some cases, create a suspicion of impropriety or bribery.
Among other recommendations, the ICC Guidelines state that enterprises should establish a policy which limits gifts and hospitality to expenditures that are business-related, made transparently and recorded fairly and accurately in the company’s books. Such practices should also consider the culture and living standards in the country where the advantage is received. The guidelines will complement ICC’s suite of anti-corruption tools, which includes the Ethics and Compliance Training Handbook.
Through its global network, USCIB – ICC’s American affiliate – has also worked on anti-bribery issues through the Business and Industry Advisory Council (BIAC) to the OECD, including through BIAC’s Task Force on Bribery and Corruption.
Staff contact: Shaun Donnelly