Anti-Bribery Policy
Exporters and other relevant parties involved in international business transactions, including foreign governments and companies which benefit from JBIC (hereinafter "relevant parties"), are required to understand and comply with all relevant laws and regulations prohibiting bribery in their own country. For example, in Japan, its national laws and regulations prohibit bribery of foreign and domestic public officials and if exporters violate such laws and regulations, they face criminal charges.
As each country has its own laws and regulations prohibiting bribery, exporters and relevant parties are required to understand and comply with all relevant laws and regulations prohibiting bribery in the country or jurisdiction where they are conducting business.
In addition to such understanding and complying with all relevant laws and regulations prohibiting bribery, exporters and relevant parties are encouraged to develop, apply and document appropriate management control systems that prevent and detect bribery, as well as promote responsible business conduct in line with such relevant laws and regulations.
JBIC takes the following measures to prevent bribery in accordance with the "Recommendation of the Council on Bribery and Officially Supported Export Credits" adopted by the OECD Council in March 2019.
1. Declaration of non-bribery and provision of necessary information for screening
JBIC requires exporters and borrowers to verify or provide a declaration that:
- Exporters, borrowers or any natural or legal person acting on their behalf in connection with the transaction have not been engaged or will not engage in bribery of foreign and domestic public officials and bribery in the private sector, where prohibited under the relevant laws and regulations in their own country, in the transaction.
- Exporters or borrowers provide JBIC with necessary information for separate due diligence to evaluate risks associated with bribery in case that exporters, borrowers or any natural or legal person acting on their behalf in connection with the transaction:
- (1) are currently under charge in any court or, to the best of their knowledge, are formally under investigation by public prosecutors for violation of laws against bribery of any country; and/or
- (2) within a five-year period preceding the application, have been convicted in any court for violation of laws against bribery of any country, been subject to equivalent measures, or been found as part of a publicly-available arbitral award to have engaged in bribery.
- Exporters, borrowers or any natural or legal person acting on their behalf in connection with the transaction are not listed on the publicly-available debarment lists of one of the Multilateral Financial Institutions* (MFIs).
- The commissions and fees paid, or agreed to be paid by exporters or borrowers, to any natural or legal person acting on their behalf in connection with the transaction, such as agents, is, or will be, for legitimate services only.
- Exporters or borrowers submit relevant documents to JBIC upon its demand to the extent that they can be disclosed and accept a request of investigation on details of such documents.
- * Multilateral Financial Institutions are the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development and the Inter-American Development Bank and the World Bank Group.
2. Enhanced due diligence
As a result of the screening performed in accordance with the procedures outlined in the above paragraph 1, if JBIC has reason to believe that bribery may be involved in the transaction, JBIC undertakes appropriate measures, such as the enhanced due diligence, to further investigate suspected bribery.
3.Response to the case that bribery has been involved
JBIC takes the appropriate actions, such as informing law enforcement authorities, refusal of providing official export credit support, suspension or cancellation of the unutilized portion of loans or mandatory prepayment if it turns out that bribery has been involved in the transaction.