Definitions 4 Sample Clauses

Definitions 4. 4.1 Full-Time Employee 4 4.2 Part-Time Employee 4
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Definitions 4. 2.1 Act; 4
Definitions 4. Art. Iii.2
Definitions 4. 4. PARTIES BOUND 6.
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Definitions 4. It is the Bank’s policy to require that Borrowers (including beneficiaries of Bank loans), as well as Consultants under Bank- financed contracts, observe the highest standard of ethics during the selection and execution of such contracts. In pursuance of this policy, the Bank: (a) defines, for the purpose of this provision, the terms set forth below as follows: (i) “corrupt practice” means the offering, receiving, or soliciting, directly or indirectly, of any thing of value to influence the action of a public official in the selection process or in contract execution; (ii) “fraudulent practice” means a misrepresentation or omission of facts in order to influence a selection process or the execution of a contract; (iii) “collusive practices” means a scheme or arrangement between two or more consultants, with or without the knowledge of the Borrower, designed to establish prices at artificial, noncompetitive levels; (iv) “coercive practices” means harming or threatening to harm, directly or indirectly, persons or their property to influence their participation in a procurement process, or affect the execution of a contract;
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