Business Integrity and Ethics Policy

For Welcord Components Industries

1.1. Business Integrity and Ethics :

a. Conflict of interest : Conflict of interest is defined as a situation in which a person has interest or is in a position to derive personal benefits from actions or decisions made in their official capacity, including but not limited to financial interest, ownership interest, etc.

By:

• Policy to provide guidance in identifying and handling potential or actual conflict of interest.
• Communicate effectively with your employees to help them in identifying and handling conflict of interest.

b. Bribery, corruption, gifts and donations :

Bribery is defined as a payment, reward or any kind of advantage offered, promised or provided to any person, group of persons or members of their immediate family in order to gain any commercial, regulatory, or personal advantage. Corruption is defined as misuse of position or power gained in official capacity for private gain. Donations are defined as any contributions made to influence any decision or gain any business or financial advantage

By:

• We should not offer or accept any undue advantage such as money, gifts, favors, donations, discounts, services, loans, contracts etc., in order to influence decisions and secure gains for business.
• We should adhere to applicable anti-bribery

c. Confidentiality :

Confidentiality is a set of rules or a promise that limits access or places restrictions on certain types of information. Confidential information is defined as information, technical data or know-how including, but not limited to, information relating to company’s research, products, software, services, development, inventions, engineering, marketing, techniques, customers, pricing, internal procedures, business and marketing plans or strategies, finances, employees, business opportunities, equipments, drawings, tools, molds, dyes, fixtures, prototypes, material and manufacturing specifications, processes provided to the supplier. Intellectual property is intangible property that is a result of creativity, for example literary and artistic works; designs; and symbols, names and images used in commerce.

By:

• We ensure that confidential information has a restricted and controlled access. You restrict employees from discussing and sharing confidential information, and train them on the importance of confidentiality and related aspects.

d. Anti-competitive and restrictive trade practices :

Restrictive trade practices refer to strategy used by companies to restrict competition in a given market preventing fair competition.

By:

• We never enter into a joint agreement to not do business with certain trade partners and customers with GCPL Competitors