Anti-bribery and corruption


The Credendo Anti-Bribery and Corruption Policy gives guidance on evaluating which situations should be considered as posing an increased risk and possibly giving rise to suspicion of bribery or corruption. The policy refers to some of the measures that are implemented to prevent Credendo from being involved in such issues and describes the procedure to be followed as soon as a suspicion of bribery or corruption arises.

Credendo is committed to the OECD Recommendation on Bribery and Officially Supported Export Credits. This recommendation applies to all types of transactions eligible for official export credit support and aims to help deter bribery in export transactions. Through the adoption of this recommendation, Credendo has committed itself to take appropriate measures to support the fight against bribery and corruption.

Applicants must state that they, and any other natural or legal person acting on their behalf (such as agents), do not appear on the debarment lists of the major international financial institutions and comply with the international and national legislation prohibiting bribery.

Applicants must declare that neither they nor any other natural or legal person acting on their behalf within the framework of the transaction (such as agents):

  • are currently involved in criminal proceedings in any court or formally under investigation by public prosecutors for the violation of laws against bribery of any country; and/or
  • have been convicted in the last five years for any violation of laws against bribery of any country, been subject to equivalent measures or been found to have engaged in bribery as part of an arbitral award.

Applicants also acknowledge that they will forfeit their rights under the insurance policy and will be required to pay back any compensation received in the event of a false declaration and any breach of national or international legislation related to bribery by themselves or any other person acting on their behalf in relation to the above-mentioned transaction.

As a general principle, Credendo – Export Credit Agency will decline support for a transaction if it concludes, after having assessed the transaction concerned, that bribery or corruption was involved in the transaction. If there is any credible allegation or evidence of acts of corruption in the award or execution of a contract, Credendo will report such information to the judicial authorities.