The Company will aim to maintain a high ethical standard in its business concept and relations with customers, suppliers and employees. The following ethical guidelines will be practiced in the Company, applicable to all employees:
- Employees shall not accept or offer gifts, money or entertainment from other parties or ganizations or individuals where these might reasonably be considered likely to influence business traactions. Gifts, other than trivial ones with a low value, shall not be accepted. In a culture where such an action may cause offence, the gift shall be declared to the Company and, if practical, donated to an appropriate charity;
- Mutual trust and confidence between Sevan Drilling and our customers is vital. All employees shall strive to consistently deliver service excellence and value for money, meeting customers’ expectations and anticipating their changing needs;
- All suppliers are entitled to fair treatment and all potential suppliers shall have a reasonable opportunity to win Sevan Drilling business. It is our policy to pay suppliers on time in accordance with agreed terms of trade. We set high standards for our suppliers in the context of our own ethical policy;
- Sevan Drilling will always compete strongly, but will seek to do so in a fair and ethical way. Competitive success is built on providing good value and service excellence. Competitors should not be disparaged. When in contact with competitors, employees will avoid discussing confidential information and no attempt will be made to improperly acquire competitors’ trade secrets or any other confidential information. Employees must not discuss pricing strategies or undertake any arrangements or practices which would conflict with the laws applicable to the business concerned; and
- Employees shall endeavor to protect the Companys assets and ensure their efficient use. All Company assets should be used for legitimate business purposes and not for personal gain.