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Background Checks
Background Checks
In the global market place any company has to act in accordance with both international and country-specific laws and we have seen a number of cases in latter years (Telenor, Yara, Petrobras...) where companies run into major problems due to business practices that are not up to par.
Companies that do not take this seriously run the risk of jeopardizing their own business and could - in worst case - find themselves under criminal investigation.
Due diligence is an investigation of a business or person prior to signing a contract, or an act with a certain standard of care (https://en.wikipedia.org/wiki/Due_diligence).
A core part of due diligence is background checks.
See guidance from ICC regarding due dilligence for small and medium sized enterprises.
NORWEP partners that are looking into establishing a presence in a foreign market, through a local agent, a partnership, a subsidiary or in other ways need to know who they are dealing with.
A background check is crucial in this, and you may confer with our background checklist when planning to cooperate with business partners in countries with corruption risks.
The law firm Compliancepartner AS already offers one day of free legal advice around anti-corruption for NORWEP partners.
Compliancepartner can also assist NORWEP partners in doing background checks.
CONTACT PERSON
Background Checklist
Checklist for NORWEP partners cooperating with business partners in countries with corruption risks