Helping reduce the risk of debarment by Multilateral Development Banks
Companies, who actively bid on and win contracts funded by Multilateral Development Banks, need to be certain that their internal compliance practices and procedures meet the specific and unique standards set by these banks. Multilateral Development Banks have their own particular anti-fraud and corruption requirements that go further than those that apply for example to the 2010 Bribery Act – an important fact which is overlooked by many companies.
Bretton Woods Law has a series of Multilateral Development Bank Debarment Avoidance Services which give companies confidence and security when working on projects funded by Multilateral Development Banks: the risk of debarment, as a result of an often unforeseen sanctionable practice, is substantially reduced. These services, comprised of the Bretton Woods Law Compliance Health Check and the Multilateral Development Bank Debarment Avoidance Training have been expressly created to meet, and often surpass, the Multilateral Development Banks’ rigorous procedures and requirements.
The geographical regions, where a large number of Multilateral Development Banks’ projects are funded, have been ranked in the Transparency International Corruption Index as highly fraudulent and corrupt, making the need for Multilateral Development Bank compatable internal compliance systems essential for those companies operating or thinking of operating in those regions
Companies who fall foul of these banks, due to the commission by employees of sanctionable practices such as fraud, corruption, coercion and collusion, could find themselves at risk of being debarred or cross-debarred; this in turn could lead to severe repercussions for both the company and individual employees, such as their Internal Compliance Officer.
Bretton Woods Law has worked with a large number of companies working on contracts financed by Multilateral Development Banks who were completely unaware of the risks they faced, but are now secure in the knowledge that having taken advantage of one or both of Bretton Woods Law Multilateral Development Bank Debarment Services, their risk of sanctionable practices is substantially decreased.
Worried that your internal compliance procedures will not match those expected by Multilateral Development Banks – then contact your nearest Bretton Woods Law office today.