boycott regulations definition
boycott regulations. The United States has enacted laws that prohibit and penalize actions deemed to be in support of certain international economic boycotts. Conduct and behavior associated with boycotts include: refusal to do business with certain countries or discriminatory hiring practices done on the basis of refusing to employ persons for reasons of religion or nationality. Likewise, the laws require parties involved in international business transactions to file reports on any third-party asking to support or join a boycott. The main purpose of these laws is to defend the boycott to Israel by certain Arab countries. Severe penalties may be imposed for infringement of these anti-boycott laws. Since the Seller is a subsidiary of a US company, it is the Seller’s policy to stand in total compliance with anti-boycott laws of the United States of America, including any anti-boycott regulations and to draft and submit the aforementioned reports, while refraining from any boycott action or activity. This policy for the execution of the procedure for the compliance of US anti-boycott laws and regulations shall be distributed among the company’s employees and its affiliated companies, as well as to its distributors and representatives, buyers which functions and operations are related to international trade, finances and other business transactions, including exports, service contracts and projects abroad.