Policy on Solicitation and Acceptance of Gifts - Form Pro · PH-law

POLICY ON SOLICITATION AND ACCEPTANCE OF GIFTS

________, a corporation duly organized and existing under and by virtue of the laws of the Republic of the Philippines, with principal office address at ________ (the “Company”), is committed to upholding the highest standards of honesty, integrity, transparency, and fairness in the conduct of its business. Consistent with this commitment and in keeping with the principles of good corporate governance under the Revised Corporation Code of the Philippines (Republic Act No. 11232), Republic Act No. 3019 (Anti-Graft and Corrupt Practices Act), Republic Act No. 9485 (Anti-Red Tape Act, as amended by Republic Act No. 11032), and other applicable laws, Directors, Employees, and Consultants shall avoid situations, or acting in a manner, where their objective and independent judgment in performing their duties and responsibilities in the Company may be impaired or compromised.

§ 1. Scope and Coverage

1.1. This Policy shall apply to all Directors, Employees, and Consultants of the Company.

1.2. This Policy covers only the solicitation or acceptance of Gifts, Entertainment, Sponsored Travel, and other business courtesies from Third Parties. “Third Parties” shall refer to any individual, entity, organization, and/or its directors, officers, employees, consultants, agents, or representatives that has existing and/or prospective business or dealings with the Company (collectively, “Third Parties”).

1.3. This Policy does not cover personal gifts, such as those solicited or received from family, friends, co-employees, or other persons or entities that are not Third Parties.

§ 2. Guidelines

2.1. Solicitation

Directors, Employees, and Consultants are expressly prohibited from soliciting Gifts, gratuity, favor, service, entertainment, or other benefit from Third Parties, except for the following:

(a) Gifts or donations for Corporate Social Responsibility programs, provided that the following conditions are met:

________

(b) Solicitations for Company use, other than Corporate Social Responsibility, provided that the following conditions are met:

________

If the Company will only solicit or accept Gifts or donations from selected Third Parties, the conditions for such selection shall be made known to all, including all relevant Third Parties.

2.2. Acceptance

Directors, Employees, and Consultants may not receive any business courtesy that violates any law, rule, regulation, contract, agreement, or reasonable customs of the marketplace.

In all appropriate instances when a Gift or Entertainment may be accepted under this Policy, it may only be accepted if all of the following conditions are met:

(a) They are voluntarily offered in good faith;

(b) Given for a bona fide and legitimate business purpose;

(c) Reasonable and proportionate in value and frequency in comparison to the usual gift-giving practices of the industry;

(d) They do not create an impression of impropriety;

(e) They do not violate any law, rule, regulation, company policy, contract, agreement, or good morals, public order, or public policy;

(f) Not intended to secure an improper advantage or otherwise;

(g) Not intended to induce or reward any act that may affect business decisions relating to the Company.

A Director, Employee, or Consultant must also consider the following when accepting a Gift or Entertainment:

(a) The value of the gift in comparison to the usual gift-giving practices in the industry;

(b) Restrictions under the law, rules and regulations, company policies, contracts or agreements, or good morals;

(c) Total value of business courtesies to the recipient from the Third Party in the current year;

(d) Suitability of the business courtesy in relation to the Director, Employee, or Consultant’s position.

In no instance should Directors, Employees, and Consultants receive business courtesies that are extravagant, expensive, costly, or too frequent considering the customs of the industry or the business situation.

§ 3. Cash, Cash Equivalents, and Free Memberships or Subscriptions

Acceptance of cash, vouchers, gift certificates, checks, or other cash equivalents of any amount, and free memberships or subscriptions from Third Parties, is absolutely prohibited and is not, and cannot be, subject to any exception.

§ 4. Gifts

4.1. “Gifts” shall refer to any gift, gratuity, favor, benefit, discount, forbearance, or other tangible or intangible item having monetary value from a Third Party for which the recipient does not pay fair market value.

4.2. Gifts shall be accepted on behalf of and surrendered to the Company, except that the following may be kept by a Director, Employee, or Consultant:

(a) The Gift is valued at equal to or less than ₱________ and is voluntarily given by a Third Party out of courtesy or because of a celebration or occasion;

(b) Gifts or tokens of appreciation given when a Director, Employee, or Consultant participated in an event sponsored by a Third Party, provided that the same is offered to everyone who participated in the same or equivalent manner;

(c) Simple promotional items;

(d) Discounts for personal purchases of products or services of Third Parties by a Director, Employee, or Consultant, provided that such discounts are made openly and are available to all Directors, Employees, and Consultants;

(e) Raffle tickets given to Directors, Employees, or Consultants for their attendance at events sponsored by a Third Party, provided that all other participants are likewise entitled to such raffle tickets and given an equal opportunity to win prizes. If a Director, Employee, or Consultant wins a prize from said raffle ticket, said prize may likewise be accepted and kept by the Director, Employee, or Consultant, regardless of the value of said prize.

4.3. All Gifts that are valued over ₱________ (an “Expensive Gift”) shall be received on behalf of the Company and shall be turned over to the following: ________ for the following actions:

(a) If the Gift is non-perishable: to be raffled off for the benefit of all Directors, Employees, and Consultants of the Company.

(b) If the Gift is perishable: to be shared and consumed by all Employees in the business unit to which the recipient belongs.

4.4. The recipient of an Expensive Gift shall inform the giver that the Expensive Gift will be received on behalf of the Company and that the same will be handled according to the foregoing.

§ 5. Entertainment

5.1. “Entertainment” shall refer to all types of hospitality extended to Directors, Employees, and Consultants, including but not limited to meals and activities, whether the Director, Employee, or Consultant is a spectator or participant, such as concerts, sports, and other similar activities.

5.2. Customary invitations to meals and activities that are paid for by Third Parties may be accepted, provided that such meal or activity does not impair the objectivity of the recipient in the performance of their duties and responsibilities to the Company.

5.3. Locations of business meetings that do not conform to accepted standards of propriety and are not conducive to business purposes shall be avoided.

5.4. Reasonable judgment must always be exercised in accepting any form of Entertainment.

5.5. Acceptance of any such invitation must be cleared and approved by the recipient’s immediate supervisor or, if prior approval is not reasonably possible, the same must be reported to the recipient’s immediate supervisor as soon as is reasonably possible.

§ 6. Property Belonging to Third Parties

Directors, Employees, and Consultants are prohibited from accepting any invitation to use property belonging to Third Parties, their directors, officers, employees, consultants, agents, and/or representatives. This includes, but is not limited to, vehicles, resorts, beach houses, and vacation houses, regardless of whether the same will be used for their personal benefit or for Company purposes.

§ 7. Sponsored Travel

7.1. “Sponsored Travel” shall refer to any travel, accommodation, and/or expenses for attending conferences, conventions, or seminars, whether international or domestic, or for business or personal purposes, that are fully or partially paid for by Third Parties.

7.2. Directors, Employees, and Consultants are prohibited from accepting Sponsored Travel unless it is part of an approved and existing contract between the Company and a Third Party.

Lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat duis aute irure dolor in reprehenderit voluptate velit esse cillum dolore eu fugiat nulla pariatur lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris.

7.4. Travel sponsored by organizations other than the Company may likewise be accepted if the sponsor is not associated with any Third Party.

7.5. All travels, whether sponsored by Third Parties or not, must be for business purposes and deemed to have a direct benefit to the Company. The same must also have the prior approval of the following: ________.

§ 8. Conflict of Interest

Directors, Employees, and Consultants must avoid any situation that creates or may create a conflict of interest between their personal interests and the interests of the Company. Any actual, potential, or perceived conflict of interest arising from the solicitation or acceptance of Gifts, Entertainment, Sponsored Travel, or the use of property belonging to Third Parties must be immediately disclosed in writing in accordance with this Policy.

§ 9. Returning Gifts

Lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat duis aute irure dolor in reprehenderit voluptate velit esse cillum dolore eu fugiat nulla pariatur lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris.

§ 10. Responsibility

It is the responsibility of every Director, Employee, and Consultant to read, understand, and comply with this Policy. When in doubt as to whether a particular solicitation, offer, or acceptance is permitted under this Policy, the Director, Employee, or Consultant must seek guidance from their immediate supervisor or the appropriate authority within the Company before acting.

§ 11. Reporting

11.1. All solicitations, offers, receipt, and/or acceptance of the foregoing must be immediately reported in writing as follows:

________

11.2. Any attempt by a Third Party to undermine or impede the transparency, honesty, integrity, and fairness of a Director, Employee, or Consultant must also be reported.

11.3. The Company shall not tolerate any form of retaliation against any Director, Employee, or Consultant who, in good faith, reports a violation or suspected violation of this Policy. All reports and disclosures made under this Policy, and the personal data contained therein, shall be handled with confidentiality and processed in accordance with the Data Privacy Act of 2012 (Republic Act No. 10173) and its Implementing Rules and Regulations.

§ 12. Relatives

12.1. “Relatives” shall refer to all relatives up to the fourth civil degree, whether by consanguinity or affinity.

12.2. If a relative of a Director, Employee, or Consultant solicits and/or accepts Gifts, Entertainment, or Sponsored Travel from a Third Party, or uses property belonging to a Third Party in violation of this Policy, said Director, Employee, or Consultant must immediately, upon discovery of the fact, report the same in writing in the manner provided in the foregoing.

§ 13. Violations

13.1. Any Director or Employee who violates this Policy shall be subject to sanctions under the Company Code of Conduct and/or applicable provisions of the Labor Code of the Philippines and its Implementing Rules and Regulations, after observance of procedural and substantive due process.

13.2. Any Consultant who violates this Policy shall be subject to penalties under their contract with the Company, which may include the termination of the contract.

13.3. Nothing in this Policy shall preclude the Company from pursuing any civil, criminal, or administrative action against any person who commits an act in violation of applicable Philippine laws, including but not limited to Republic Act No. 3019 and the Revised Penal Code.

§ 14. Information Dissemination

14.1. All new Directors, Employees, and Consultants shall receive a copy of this Policy upon the commencement of their duties.

14.2. If this Policy is amended or modified, all Directors, Employees, and Consultants shall be informed of the amended or modified Policy.

§ 15. Effective Date

This Policy shall become effective on ________ and shall remain in force until amended, modified, or revoked by the Company.

Signed and approved:

________
________
Date: ________