In their effort to uphold integrity and ethical standards, Kimia Farma Trading & Distribution (KFTD) has implemented a robust anti-corruption framework known as the ‘4 No’ principles. This initiative is a proactive stance against corruption, ensuring that all business dealings are transparent and above board.
The ‘4 No’ principles are No Bribery, No Kickback, No Gift, and No Luxurious Hospitality. Check out the comprehensive explanations below.
1. No Bribery
The first principle firmly states that there will be no tolerance for bribery. This includes the prohibition of any form of kickbacks or blackmail. KFTD’s stance is clear: all transactions and interactions must be conducted without exchanging illicit favors.
2. No Kickback
The second principle reinforces the first by explicitly banning any commission, gratuities, or profit-sharing that could influence decision-making. This principle ensures that all business decisions are based on merit and fairness, not personal gain.
3. No Gift
Gifts can often be a gray area in business transactions. However, KFTD’s third principle draws a clear line by disallowing any gifts that could be deemed unreasonable. This means that any exchange must not only comply with legal standards but also withstand the scrutiny of ethical evaluation.
4. No Luxurious Hospitality
Finally, the fourth principle addresses the issue of hospitality. There is a strict policy against any form of luxurious or extravagant hospitality that could be construed as a means to influence business decisions unduly. This includes lavish banquets or entertainment beyond what is considered reasonable and modest.
By adhering to these ‘4 No’ principles, Kimia Farma Trading & Distribution sets a benchmark for good corporate governance. KFTD is committed to operating with the highest level of integrity, ensuring that all stakeholders have confidence in its business practices. This initiative protects the KFTD’s reputation and contributes to the broader fight against corruption in the industry.