Common use of Transparency Commitment Clause in Contracts

Transparency Commitment. The Parties commit to: (a) To maintain appropriate conducts and controls to guaranty an ethic performance in agreement with the regulations in force. (b) To refrain from making (directly or indirectly, or through employees, representatives, affiliates or contractors), payments, loans, gifts, gratuities, commissions to employees, directors, managers, contractors or suppliers of Cenit, public servants, members of bodies elected by popular vote, or political parties, in order to induce such persons to do something or to make a decision or to use their influence in order to contribute in obtaining or keeping businesses in relation to the Agreement. (c) To refrain from generating inaccurate records or data, or from disseminating information that affects the image of the other Party when it is based on assumptions that have not been proven. (d) To prevent any situation that could generate a conflict of interest. (e) To communicate in a mutual and reciprocal manner any departure from the line of conduct set forth in this clause. The Sender declares that it knows and accepts Cenit’s Ethics’ Code. In case that Cenit determines that the Sender has incurred in conducts that are in breach of this clause, it may terminate this Agreement. Clause 16. Validity