APPENDIX 3
JOINT VENTURES
The enterprise should conduct due diligence
before entering into a joint venture.
The enterprise should ensure that subsidiaries
and joint ventures over which it maintains effective control adopt
its Programme. Where an enterprise does not have effective control
it should make known its Programme and use its best efforts to
monitor that the conduct of such subsidiaries and joint ventures
is consistent with the Business Principles.
Joint Ventures (including non-controlled subsidiaries,
consortium partners, teaming agreements and nominated sub-contractors):
Due diligence should be conducted before entering
into a joint venture, and on an ongoing basis as circumstances
warrant. The Programme should provide guidance for conducting
due diligence.
The enterprise should undertake appropriate
measures, including contract protections, to ensure that the conduct
of joint ventures is consistent with the Transparency International
Business Principles.
December 2007
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