Code of conduct

SUPPLIER CODE OF CONDUCT OF THE UNITED INSURANCE COMPANY OF VIETNAM

(Adopted by Decision No. 215/2021/QD-UIC dated 29 December 2021 of the General Director of the United Insurance Company of Vietnam)

Article 1. Purpose

United Insurance Company of Vietnam (UIC) establishes this Code of Conduct with the aim of upholding the standards for all suppliers to conduct business activities in a professional manner, consistent with legitimate interests of UIC, the suppliers and the relevant laws and regulations.

Article 2. Scope of applicability

This Code of Conduct shall apply to Suppliers of UIC (including those providing goods and services to UIC, their partners, and their directors, staff, employees, representatives and contractors). UIC expects the Suppliers to understand and comply with this Code of Conduct.

Article 3. Compliance

Supplier shall act with integrity and good sense in compliance with laws and regulations of Vietnam, relevant foreign laws, relevant provisions and standards issued by professional associations, agreements with UIC and UIC’s relevant regulations (collectively “Laws and Regulations”), and based on social norms and business ethics. Supplier shall:

Be well aware of and comply with the Laws and Regulations applicable to its supply of goods/services to UIC and usually update any change in the Laws and Regulations.
Usually pay attention to and update international rules and practices that might be applicable for the Supplier’s business and the supply of goods/services to UIC.
Ensure that there are processes, regulations, personnel, and other standards and requirements in accordance with the Laws and Regulations to provide goods/services to UIC in place; ensure the quality of goods/services provided to UIC.
Act in good faith in accordance with the Laws and Regulations, social norms and business ethics.
Provide UIC with complete and accurate information and documents relating to the goods/services supplied to UIC in accordance with the Laws and Regulations and the Supplier’s compliance with this Code of Conduct.

Article 4. Business practice

Integrity and quality of goods/services provided by Supplier to UIC is very important in UIC’s relationship with its stakeholders. In the relationship with UIC, Supplier shall:

Act with integrity, transparency, ethics, fairness, and in the professional manner in all transactions with UIC and its stakeholders (such as members, shareholders, customers, business partners of UIC), promptly inform UIC of any existing or potential violation.
Perform the work with due diligence, care, attention and skills required in accordance with professional standards of the industry; continuously strive to improve the ethics and professional standards of the Supplier.
Avoid any conflict of interest or any risk of conflict of interest; not engage in illegal acts.
Be respectful and polite when dealing with customers and stakeholders of UIC.
Not perform the work without the authority, competence or meeting standards or conditions to perform in accordance with the Laws and Regulations.
Notify relevant parties of the provision of goods/services to UIC, the scope of work authorized by UIC (if any) as the case might be or required by the Laws and Regulations.

Article 5. Protection of the assets of UIC

All the assets of UIC (including but not limited to intangible items such as logos, slogans, trademarks, systems, passwords, user accounts, customer information and data) must be properly used and protected. Supplier shall:

Only use UIC’s assets subject to UIC’s prior written consent and for providing goods/service to UIC; never tolerate fraudulent use, personal use, theft, waste or causing damage in regard to them.
Protect intellectual properties owned and/or used by UIC, and respect the intellectual properties of any other third party. Only manage, use and exploit such properties subject to the rightholders’ consent and within the permitted scope.
Not infringe know-hows, copyrights, patents, trademarks, trade secrets, tradenames, domain name and other intellectual properties developed, owned or licensed by UIC or any third party.

Article 6. Proper document creation and management

Supplier shall properly create, use, manage and archive all documents, mails, records and other data related to its business relation with UIC in accordance with the Laws and Regulations. Supplier shall accurately create documents, mails, records and other data relating to UIC’s business operations and retain such materials in a manner that makes them available and accessible when needed in compliance with the Laws and Regulations and its internal regulations. Supplier shall also properly discard or return such materials which have passed the retention period as prescribed by the Laws and Regulations and its internal provisions.

Article 7. Fair dealing

Supplier shall pursue fair and transparent competition. Supplier shall:

Comply with competition laws and regulations of Vietnam and agreements with UIC.
Never conduct unjust, fraudulent bidding transactions in the business relationship with UIC.
Never misrepresent information about UIC’s products and services and the goods/services provided by the Supplier.
Except for prior written consent of UIC, never provide comment with any third party or post any comment or disclose any information on the press, Internet or through social media which might slander UIC.

Article 8. Prohibition of bribery

Any act of corruption, including the offering, receiving, brokering of bribes, or other illegal acts will have significant negative consequences on UIC’s business. Supplier shall:

Either directly or indirectly and in any manner whatsoever, not promise, request or guarantee any amount of money or other benefits in order to obtain or retain an order or any other unjust benefit in relation to UIC.
Never provide money, gifts or other material or non-material benefits with the intent to obtain illegal, unjust or fraudulent profits or benefits in relation to UIC.
Fully comply with the anti-corruption laws and regulations of Vietnam and those applicable of other jurisdictions.
Never receive money, gifts or other material or non-material benefits in circumstances where the UIC’s business decisions or those of Supplier which are related to UIC may be affected or changed by the acceptance of such benefits.

Article 9. Conflict of interest

Any situation where the interests of Supplier or its customer/partner conflict with those of UIC shall be fully notified to UIC and handled in an appropriate manner in order to protect the interests of UIC. Supplier shall:

Not be engaged in situations or activities where its interests conflict or might conflict with UIC’s interests, including but not limited to:

a) Refer UIC’s customer to another company in the same insurance sector.
b) Simultaneously represent or co-operate with UIC and any other party in which the interest of such other party is in conflict with that of UIC.

Notify its existing or potential conflict of interest to UIC as soon as possible and only act subject to UIC’s consent.

Article 11. Prevention of money laundering and terrorist financing

Supplier shall strive to ensure that UIC’s products and services are not used to serve money laundering or to finance terrorist activitities, or to proliferate weapons of mass destruction. Supplier shall:

Make every effort to realize that there is no suspicion about customers or transactions based on requirements of the Laws and Regulations, and degree of risk when starting and continuing business relationships with customers and contractors.
Promptly notify UIC and competent authorities in accordance with the Laws and Regulations if it recognizes a situation of suspected money laundering, terrorist financing or any other criminal-related activities.
Never engage in transactions with organizations or individuals being subject to economic sanctions imposed by any country, jurisdiction or international organization.

Article 12. Elimination of relationships with organized crime forces

Supplier shall not have any relationship with organized crime forces. Supplier shall:

Make every effort based on all available and accessible information to realize that customers and business partners are not organized crime forces, and if there is any suspicion, always strive to refuse the transaction and end the business relationship.
Firmly refuse demands or pressure from organized crime forces.
Fully cooperate with competent authorities during any relevant investigation and handling of such organized crime force, when required.

Article 13. Violation

In the event of any violation of this Code of Conduct, UIC reserves the right to take actions that UIC deems necessary to correct the violation. Supplier shall provide information and materials to UIC, establish procedures and take actions to correct the violation and cooperate with UIC in the correction process.

Article 14. Miscellaneous

By accepting in writing this Code of Conduct, Supplier agrees that it has caused this Code of Conduct to be read and understood, and agrees to be bound by this Code of Conduct. UIC may amend and supplement this Code of Conduct from time to time.
If there is any provision of this Code of Conduct being inconsistent with the law of Vietnam, the stricter provision shall prevail, provided that it is not against the law of Vietnam.
Notwithstanding Clause 14.2 above, if there is any provision of this Code of Conduct being inconsistent with specific written agreement or contract between UIC and Supplier, the relevant provision of the latter shall prevail, provided that such provision does not violate the law of Vietnam and other applicable law.
It is impossible for this Code of Conduct to cover all the case the Suppliers might encounter. As such, in case of any doubt, the Suppliers should consult UIC. Any Supplier believing that there is a violation of this Code of Conduct might report to UIC (via complaint@uicvn.com or suggestion@uicvn.com or other means if appropriate)./.