Common use of PROHIBITED PRACTICES Clause in Contracts

PROHIBITED PRACTICES. The Fund, the Contractor and the Contractor-Related Persons shall observe the highest standards of ethics during the entire term of the Contract and shall refrain from engaging in any Prohibited Practices. The Contractor acknowledges and confirms that it is aware of and shall, and shall cause its relevant officers, employees, consultants, contractors and subcontractors to, comply with the Policy on Prohibited Practices in their capacities as ‘counterparties’ under the Policy on Prohibited Practices Without prejudice to any of the Fund’s other rights under the Contract, if the Fund becomes aware that the Contractor or any Contractor-Related Person has engaged in a Prohibited Practice, whether during the term of the Contract or during the procurement process for the Contract, the Fund may take such measures as it deems necessary to protect its interests, including but not limited to declaring the Contractor or relevant Contractor-Related Persons ineligible to participate in any Fund-financed activities indefinitely or for a stated period of time except under such conditions as the Fund deems appropriate. The remuneration of the Contractor under the Contract shall constitute the Contractor’s sole remuneration in connection with the Services to be provided under the Contract, and the Contractor shall not accept for its own benefit any trade commission, discount, or similar payment in connection with activities pursuant to the Contract or to the Services, or in the discharge of its obligations under the Contract. The Contractor shall ensure that any Contractor-Related Person similarly shall not receive any such additional remuneration. The Contractor warrants that no official of the Fund or of any of the parties to the Convention has been given or promised, or will be offered by the Contractor any direct or indirect benefits, including but not limited to fees, gratuities, rebates, gifts, commissions or other payments, arising in connection with the Contract, the Services, or the award thereof. The Contractor agrees that breach of this provision is a cause for termination of the Contract. The Contractor agrees to reimburse the Fund for any losses the Fund suffers as a direct result of the Contractor’s breach of the foregoing obligations, including the costs of an investigation into the Contractor’s conduct where such investigation confirms that the Contractor has breached such provisions.

PROHIBITED PRACTICES. The Fund, the Contractor and the Contractor-Related Persons shall observe the highest standards of ethics during the entire term of the Contract and shall refrain from engaging in any Prohibited Practices. Promptly upon becoming aware that the Contractor or any Contractor-Related Persons have or may have engaged in a Prohibited Practice, the Contractor shall notify the same to the Fund in writing. The Contractor acknowledges and confirms shall procure that each Contractor-Related Person immediately notifies the Contractor if it is aware suspects that any Contractor-Related Person has or may have engaged in a Prohibited Practice. The Contractor shall investigate the actual or suspected engagement in, or allegations of and shall, and shall cause its relevant officers, employees, consultants, contractors and subcontractors to, comply with the Policy on Prohibited Practices in their capacities as ‘counterparties’ under and report preliminary and final findings of investigations to the Policy on Prohibited Practices Fund. The Contractor shall use reasonable efforts to ensure that funds paid to the Contractor by the Fund are not used to finance, support or conduct terrorism. Without prejudice to any of the Fund’s other rights under the Contract, if the Fund becomes aware that the Contractor or any Contractor-Related Person has engaged in a Prohibited Practice, whether during the term of the Contract or during the procurement process for the Contract, the Fund may take such measures as it deems necessary to protect its interests, including but not limited to declaring the Contractor or relevant Contractor-Related Persons ineligible to participate in any Fund-financed activities indefinitely or for a stated period of time except under such conditions as the Fund deems appropriate. The remuneration of the Contractor under the Contract shall constitute the Contractor’s sole remuneration in connection with the Services to be provided under the ContractServices, and the Contractor shall not accept for its own benefit any trade commission, discount, or similar payment in connection with activities pursuant to the Contract or to the Services, or in the discharge of its obligations under the Contract. The Contractor shall ensure that any Contractor-Related Person similarly shall not receive any such additional remuneration. The Contractor warrants that no official of the Fund or of any of the parties to the Convention has been given or promised, or will be offered by the Contractor any direct or indirect benefits, including but not limited to fees, gratuities, rebates, gifts, commissions or other payments, arising in connection with the Contract, the Services, or the award thereof. The Contractor agrees that breach of this provision is a cause for termination of the Contract. The Contractor agrees shall not pay any commissions, or fees; grant any rebates or give gifts or favors; or otherwise enter into any financial or business arrangements with Fund personnel or their dependents during the entire term of the Contract, save, in respect of dependents, to reimburse the extent that it can objectively be demonstrated that such dependents would have received the same notwithstanding the existence of the Contract. The Contractor shall indemnify the Fund for any losses costs it incurs in connection with any investigations and proceedings that the Fund suffers as a direct result may undertake in connection with the foregoing provisions. The Fund reserves the right to refuse admittance to or remove from Fund Premises and/or surrender to local law enforcement authorities, Contractor’s personnel who, in the Fund’s judgment, commit an offence on Fund Premises or, for any reason, are deemed incapable of safely and reliably performing assigned work or whose behavior does not conform to generally accepted professional standards and good industry practice. For this purpose, the Contractor recognizes the authority of the Fund to summon Contractor’s breach personnel for investigation. Such offences include, but are not limited to, the following: Theft/Pilferage: removing or attempting to remove from Fund Premises, without authority to do so, Fund property, regardless of the foregoing obligationscondition or value of such property; or stealing personal property while on the Fund Premises. Damage or Disruption: intentionally, recklessly or negligently disrupting Fund operations, and/or otherwise causing damage to or destroying the Fund’s property. Drunkenness/Alcoholism: consuming intoxicating beverages on Fund Premises or reporting for work under the influence of alcohol. Using Prohibited Drugs: including the costs of an investigation into the Contractor’s conduct where such investigation confirms that the Contractor has breached such provisionsbut not limited to possessing, pushing, selling, consuming or otherwise using prohibited drugs, hallucinogenic substances or narcotics on Fund Premises.

PROHIBITED PRACTICES. The Fund, the Contractor and the Contractor-Related Persons shall observe the highest standards of ethics during the entire term of the Contract and shall refrain from engaging in any Prohibited Practices. Promptly upon becoming aware that the Contractor or any Contractor-Related Persons have or may have engaged in a Prohibited Practice, the Contractor shall notify the same to the Fund in writing. The Contractor acknowledges and confirms shall procure that each Contractor-Related Person immediately notifies the Contractor if it is aware suspects that any Contractor-Related Person has or may have engaged in a Prohibited Practice. The Contractor shall investigate the actual or suspected engagement in, or allegations of and shall, and shall cause its relevant officers, employees, consultants, contractors and subcontractors to, comply with the Policy on Prohibited Practices in their capacities as ‘counterparties’ under and report preliminary and final findings of investigations to the Policy on Prohibited Practices Fund. The Contractor shall use reasonable efforts to ensure that funds paid to the Contractor by the Fund are not used to finance, support or conduct terrorism. Without prejudice to any of the Fund’s other rights under the Contract, if the Fund becomes aware that the Contractor or any Contractor-Related Person has engaged in a Prohibited Practice, whether during the term of the Contract or during the procurement process for the Contract, the Fund may take such measures as it deems necessary to protect its interests, including but not limited to declaring the Contractor or relevant Contractor-Related Persons ineligible to participate in any Fund-financed activities indefinitely or for a stated period of time except under such conditions as the Fund deems appropriate. The remuneration of the Contractor under the Contract shall constitute the Contractor’s sole remuneration in connection with the Services to be provided under the Contract, and the Contractor shall not accept for its own benefit any trade commission, discount, or similar payment in connection with activities pursuant to the Contract or to the Services, or in the discharge of its obligations under the Contract. The Contractor shall ensure that any Contractor-Related Person similarly shall not receive any such additional remuneration. The Contractor warrants that no official of the Fund or of any of the parties to the Convention has been given or promised, or will be offered by the Contractor any direct or indirect benefits, including but not limited to fees, gratuities, rebates, gifts, commissions or other payments, arising in connection with the Contract, the Services, or the award thereof. The Contractor agrees that breach of this provision is a cause for termination of the Contract. The Contractor agrees to reimburse the Fund for any losses the Fund suffers as a direct result of the Contractor’s breach of the foregoing obligations, including the costs of an investigation into the Contractor’s conduct where such investigation confirms that the Contractor has breached such provisions.