Supplier Code of Conduct

The Allset Industries Supplier Code of Conduct establishes mandatory standards for all suppliers and outlines the minimum expectations Allset Industries require its suppliers to meet when conducting business with the company. Allset Industries encourages its suppliers to exceed these requirements and pursue continuous improvement across all areas covered by this code.

Responsibilities

• All employees are required to act in accordance with this policy.
• The finance assistant responsible for sub-suppliers, is responsible to act in accordance with this document
• The HSEQ Director is responsible for keeping the documents up to date.
• Top management is responsible for ensuring that the policy is complied with.
  
  

Definition of a Supplier

A supplier is defined as any individual or legal entity providing Allset Industries or its affiliates with services or products.

The relationship between Allset Industries and its suppliers is founded on the mutual acceptance of clearly defined, contractually appropriate interests for both parties, in adherence to the Allset Industries’ Global Code of Ethics.

This Supplier CoC embodies the requirements of the Allset Industries Global Code of Ethics and demonstrates Allset Industries’ commitment to the following principles, which it expects its suppliers to uphold as well.

Human and Labor Rights

The Supplier affirms that the following principles form the foundation of all business activities and interactions with employees and business partners:

• Upholding and protecting human rights.
• Respecting the personality and dignity of every individual.
• Promoting fair and cooperative collaboration.
• Demonstrating professionalism, honesty, loyalty, personal responsibility, and integrity.
• Showing respect for colleagues, stakeholders, and the environment.
• Prohibiting all forms of discrimination based on ethnicity, religion, age, gender, disability, sexual orientation, ideology, or membership in political, religious, or trade-union organizations.
• Rejecting unworthy working conditions, including child labor, forced labor, or compulsory labor, in accordance with local laws.
• Adhering to the maximum working hours defined by applicable local regulations.
• Ensuring the provision of appropriate working conditions that meet legal and ethical standards.
  
  

Compliance with Laws and Regulations

The Supplier affirms its commitment to complying with all relevant laws and regulations applicable to its business operations. This includes adherence to national and international standards, specifically but not limited to regulations concerning:

• Fair competition
• Embargoes and sanctions
• Anti-corruption and bribery
• Legal compliance in all operations
• Prevention of money laundering
• The Supplier ensures that its practices align with these requirements to uphold ethical and lawful conduct in all aspects of its business.

The Supplier must ensure that any new materials, components, products, or services introduced into the supply chain are not sourced from countries subject to trade sanctions, embargoes, or bans issued by relevant authorities such as the European Union, United Nations, or national governments, unless prior written approval has been obtained from Allset Industries.

Prevention of Corruption

Allset Industries is committed to maintaining the highest ethical standards in all its business transactions and expects the same level of integrity from its suppliers. Allset Industries has a zero-tolerance policy for any form of corruption, whether public or private, active or passive. The Supplier affirms that unethical or corrupt practices, including extortion or bribery by employees or business partners, are strictly prohibited and will not be accepted under any circumstances.

The Supplier is expected to adhere to the following principles, which align with the foundational standards of Allset Industries’ Anti-Corruption Policy and apply to all employees of Allset Industries. These principles are designed to ensure integrity and transparency in business dealings:

Gifts: Allset Industries employees are prohibited from soliciting, accepting, or offering any gifts, except for nominal, locally accepted tokens of appreciation provided during the normal course of business.

Hospitality: Allset Industries employees must not request invitations from business partners. Invitations to events or business meals may only be accepted if they are voluntarily offered, serve a legitimate business purpose, and align with standard business practices.
Travel Expenses: Business partners are not allowed to cover accommodation costs for Allset
Industries employees.

Financial Benefits: Allset Industries employees are strictly prohibited from requesting or accepting payments, loans, or any other financial benefits from suppliers, traders, or customers for personal gain.
The Supplier confirms that similar guidelines are in place and enforced for its own employees, ensuring alignment with the principles upheld by Allset Industries.

Conflicts of Interest

The Supplier confirms that it takes all necessary measures to prevent situations that could result in a conflict of interest between the Supplier and Allset Industries, ensuring that such circumstances do not cause any harm or damage to Allset Industries.