DECLARATION
OF INTEGRITY IN BUSINESS CONDUCT
IN SAINT PETERSBURG, RUSSIA
PRINCIPLES
The undersigned representative of the St. Petersburg business community
("Party to the Declaration") recognizes the following international
principles of business conduct as the basis of this Declaration of Integrity
in Business Conduct ("Declaration"):
Transparency. The functioning of a market economy presumes that each
market participant conducts business with transparency, exchanging accurate
information with other market participants on an efficient basis while
respecting norms of confidentiality.
Sanctity of Contract Respect for the sanctity of contract and the honoring
of oral commitments leads to commercial ties built on good will, trust
and reputation for honesty.
Competition. A competitive economy provides transparent rules and opportunities
for market participants, rewards quality of performance and deters reproachable
methods of obtaining advantages over other market participants.
Repudiation of Corrupt Practices. Corruption inflicts damage on market
relations and on the economy as a whole. Repudiation of corruption as
a method of business facilitates the process of stabilizing the market.
Legal Settlement of Disputes. A civil market presumes the rejection
of illegal and dangerous methods to defend economic interests. Any use
of violence against a person in a business dispute, including the use
of physical or psychological coercion, is impermissible.
DECLARATION
NOW, THEREFORE, in order to integrate the Declaration's
principles fully into the business culture of St. Petersburg, by applying
the principles consistently in concert with other members of the business
community, each Party to the Declaration declares that:
ARTICLE I. CODE OF BUSINESS CONDUCT
A.
The Party to the Declaration has adopted or shall adopt a Code of Business
Conduct based upon the principles set forth in this Declaration ("Code").
B. The Party to the Declaration which has adopted a Code shall present
the Secretary of the Governor of Saint Petersburg's Council on Investment
(«Depository») with a copy of the Code at the time of signing this Declaration.
C. The Party to the Declaration which shall adopt a Code shall present
the Depository with a copy of the Code as soon as practicable but no
later than ninety (90) days after signing this Declaration. In order
to ensure that the Code conforms with the principles set forth in this
Declaration, each Party to this Declaration which shall adopt a Code
can utilize the Model Code of Ethics in Business Conduct attached to
this Declaration.
D. The Party to the Declaration shall ensure that the Party's employees
are familiar with the provisions of the Party's Code and systems of
control that prevent actions by employees that are contrary to the provisions
of the Party's Code.
E. The Party to the Declaration shall present the Depository a letter
affirming that the Party has faithfully conducted business in accordance
with the Party's Code on an annual basis.
ARTICLE II. PUBLICATION
A. By signing the Declaration, the Party to this Declaration hereby
agrees to be included on a Register of Parties to the Declaration ("Register"),
which shall be maintained and publicized by the Depository. The Register
shall include the name of the Party to the Declaration and the dates
the Party's representatives signed this Declaration.
B. The Depository shall update the Register regularly to include each
new Party to the Declaration.
ARTICLE III. MISCELLANEOUS
A. The Party to the Declaration is signing and executing the Declaration
voluntarily.
B. Two duly authorized representatives of the Party to the Declaration
shall sign and seal two (2) copies of this Declaration. One (1) copy
shall remain with the Party to this Declaration and the second shall
be submitted to the Depository.
For and on the behalf of_______________(Name of Company)_________________________________
