Due Diligence
Description
Due diligence is the investigation or exercise of care that a business or person is expected to take before entering into an agreement or contract with another party
If appointing business partners to facilitate the sale and/or marketing and promotion of products, it is expected that you will perform a level of due diligence on them. This means collecting important information about the business, the key persons associated with it as well as the prospective business relationship.
This will help you to ensure that the partners are qualified, competent and reliable, and that they have high ethical standards and are committed to compliance with applicable laws, rules, regulations and the Company Code of Conduct (or equivalent).
Important Note: The documents listed below are template materials and should be tailored appropriately by users to meet the compliance requirements and legal obligations applicable to their business.
Resources for you
To find more about Due diligence, please check the below documents:
Instructions
1. Customize the SOP according to your company’s needs.
2. Make the SOP available to all relevant internal stakeholders including new employees at time of hiring and all relevant business partners, such as sub distributors and agents.
3. Ensure the SOP is posted and/or accessible to all relevant employees.
5. Train your employees on the SOP and keep training records.
To know more about the process on how to conduct due diligence on third party companies, please refer to the SOP below:
Contracts signed with third party companies should include anti-corruption clauses. Please find an example below: