Farid Industrie S.p.A.
1. ETHICS
The internal and external activities of Farid are governed by the principles contained in this Code of Ethics, which must be respected by all Concerned Parties to ensure that in the pursuit of success Farid cannot ignore the respect of ethics in its management.
The characteristics that inspire the Code of Ethics are based on the principles of legality, legitimacy, correctness, and transparency of the activities of the company, principles that must be respected by all the Concerned Parties in the performance of their respective skills and functions.
The Code of Ethics, which is an integral and essential part of the Business Model, was developed to introduce and make binding for the Company and individual Concerned Parties rules and standards of conduct adequate to ensure the prevention of Qualifying Offenses. Misconduct by a single individual can discredit everyone, whether that misconduct is motivated by the belief that it may be benefiting Farid or by personal gain. Observance of both the letter and the spirit of the law, and strict adherence to Farid's policies and practices, are absolute requirements. While we clearly expect to succeed, we believe that success at the expense of our reputation will be short-lived.
In no circumstances shall any of the Concerned Parties be considered to be authorised to act, to obtain an advantage, or to encourage an interest of Farid, in violation of the specific rules set out by the present Code of Ethics. The Code of Ethics does not replace but complements the ordinary and specific legislation established by the competent authorities. If conduct contrary to this Code of Ethics is conducted by any of the Concerned Parties the sole person or entity responsible shall be deemed liable - while Farid shall be free from any involvement or liability.
2. LEGALITY
Farid and the Concerned Parties pursue their activity in full respect of the laws of the Italian State and the European Union, as well as of the legislation of all the States in which they operate for business related reasons.
All the Concerned Parties shall know and observe the rules - national and European - that regulate their own areas of competence, as well as the respective codes of ethics, typical of each specific professional profile. The decisions taken within the scope of these areas shall comply fully with the applicable rules and, in the event of doubts or uncertainties regarding their interpretation, the Concerned Parties shall contact the Oversight Board, complying fully with the directions received.
The governing bodies and all the Concerned Parties shall strictly observe the company procedures laid down by the Business Model and the rules laid down in this Code of Ethics.
3. OBJECTIVES
The primary objectives of Farid are the satisfaction of its customers, the achievement of levels of excellence in the production and the creation of value for shareholders and investors.
These goals are pursued both in the decision-making and in the implementation stage through constant attention to the efficient use and allocation of resources, which is manifested in the preparation of optimal industrial, commercial and financial strategies characterised by clarity, seriousness and reasonableness.
4. RULES OF BEHAVIOUR IN THE CONDUCT OF BUSINESS
In the pursuit of the objectives referred to in the preceding article 3, and in general in the performance of their professional activity, all the Concerned Parties shall comply with the rules of conduct laid down by this Article 4.
The Concerned Parties shall respect the standards applicable in every context, domestic and international in which they operate; and the universal criteria of transparency, fairness and loyalty in the conduct of business.
The Concerned Parties must scrupulously refrain from putting in place unlawful and improper behaviour towards society, public authorities, customers of Farid, employees, shareholders and competitors in the pursuit of their objectives. Objectives must be pursued solely through the maximisation of their performance, the attention to the customer, the search for quality and convenience of the products of the Company.
Farid promotes fair competition and requests and expects all Concerned Parties to perform their activities according to this principle and geared to achieve full and correct development of the Company, of the market and its operators, as well as to the professional growth of the Concerned Parties.
Except for contrary provisions of the law or orders given by the public authorities, the Concerned Parties shall preserve the confidentiality of all confidential information of which they become aware in the conduct of their activity related to Farid, its customers, its suppliers and its competitors.
5. PROTECTION OF THE HUMAN RESOURCES
The Company considers its human resources essential for its success: Farid empowers the capacity and potential of all employees, promotes their training and professional growth, protects their safety and health in the workplace and protects and recognises their rights, including the right to privacy.
Farid recognises that its people are the founding elements of its success in the market. They assess the staff to be recruited solely on the basis of the business needs in relation to the professional skills and the personal profiles of the candidates and in total respect of equal opportunities and valorisation of the highest standards of professionalism. For the purpose of the on going development of its employees and in order to develop appropriate skills and stimulate potential Farid believes it is essential to focus on training and preparation of its workforce at all levels in order to achieve personal and business goals.
In the management of the human resources, Farid rigorously adheres to a policy of equal treatment and equal opportunities, refrains from any kind of discrimination or favouritism and bases its assessment about the work and the professionalism of its employees exclusively on meritocratic criteria. Attributing to each employee and/or collaborator actual, serious, tangible, achievable and measurable objectives. Objectives that will enable Farid to check the performance of each and duly recognise the contribution of the individual according to clear and transparent criteria.
Farid promotes and encourages relationships of respect, loyalty and mutual trust between individuals no matter what level within the company. Considering that the serenity and collaboration at work is an essential condition for the successful performance of the business.
All Concerned Parties must ensure and commit to perform, in relation to the relevant tasks and functions, their tasks in the exclusive interest of Farid. They must avoid any position or situation of conflict of interest that may adversely affect professional collaboration and mutual loyalty. In the case of potential conflict each subject is required to declare this and inform their immediate superior(s) in order to deal with the circumstances in an optimum manner whilst remaining respectful of the interests of all.
6. PROTECTION OF SHAREHOLDERS AND INVESTORS
Farid, committing with its shareholders to the pursuit of the objectives referred to in Article 3, gives them an absolute equality of treatment whilst avoiding favouritisms of any kind, or preferences on whatever basis.
Farid protects the integrity of its assets and the trust of those who invest in its growth and development through maximum attention to the correctness and transparency of the financial and accounting management of the Company and additionally through the implementation of effective strategies for risk mitigation.
Farid pays the utmost attention to ensuring that the Concerned Parties holding decisional roles inside the Company scrupulously avoid any situation of conflict or potential conflict of interest with Farid.
7. PROTECTION OF CUSTOMERS
Farid considers of primary importance the attention to its customers and their constant satisfaction, basing its action on the correctness and good faith during the stipulation of contracts, always ensuring standards of excellence in the provision of products and/or services, requiring a high qualification and professionalism of its employees and managing the relations with customers with honesty and fairness.
Farid has always oriented its relations with customers in terms of total loyalty, good faith, fairness and transparency both in the stages of negotiations and in the execution of the existing agreements whilst taking care not to exploit or take advantage of any dominant positions or to impose conditions of imbalance or oppressive in the firm belief that the success of Farid derives from the performance and the overall satisfaction of the customer.
Consequently, Farid ensures to its customers, in addition to quality and convenience of its products and the competence of employees and collaborators, constant assistance and maximum availability, accuracy and courtesy of the Concerned Parties in the conduct of trade relations at all levels. Farid, moreover, carefully safeguards the right to the respect of the privacy of its customers, imposing to the Concerned Parties to maintain the strict confidentiality on each type of sensitive information that concerns them and of which they are aware because of the employment/collaboration relationship with the Company in accordance with all relevant regulations applicable in this matter.
8. PROTECTION OF THE ENVIRONMENT
Farid is aware of the fundamental importance of values such as respect for the environment and sustainable development today and tomorrow in order to protect the rights of future generations.
Consequently the Concerned Parties in formulating their choices and decisions are obliged to carefully consider their environmental impact, and to make every effort in order to minimise their negative effects.
Farid, moreover, using the continuous investment of important resources in research and innovation constantly encourages the Concerned Parties to identify new and more advanced solutions that mitigate the environmental effects associated with the use of its products.
In the negotiation and execution stages of the existing agreements, as well as in the entire business activities carried out, Farid has particular attention to:
- using processes, technologies, and materials that allow the maximum reduction in consumption and waste of natural resources and those that have the lowest possible environmental impact;
- limiting waste production, using reuse and recycling where possible;
- ensuring storage and proper disposal of wastes which are produced;
- raising awareness among its employees and collaborators about the respect of the environment through clear rules of conduct, as well as by using a suitable policy of information and training.
9. RELATIONS WITH THE PUBLIC
The Concerned Parties shall ensure that Farid integrates fully with the local entities where it carries out its business.
In respect of the reciprocal autonomy and independence, Farid promotes economic development, progress and enhancement of local entities, while respecting the individual peculiarities by focusing its action and business activity on consent and on the prestige of the Company as a whole. These are considered essential values for success on the market.
10. RELATIONS WITH THE PUBLIC AUTHORITIES
Public Administration is the totality of private or public entities that perform a "function" or a "public service".
With "public function" reference is made in general and specifically to all the activities governed by rules of public law; while "public service" means engaging every activity of the production of goods and services of general interest subject to public controls - aimed at guaranteeing the fundamental rights of the person.
The relationship of Farid with public authorities and local public administrations - national and supranational - is based on full cooperation and transparency. The Concerned Parties shall observe strictly the prohibition to provide - except for the cases provided for by the law - contributions, benefits, utilities and gifts of any kind and amount to Public Authorities, Public Administrations, public officials and employees.
In the course of business negotiations tenders and relations of any kind with the Public Authorities and with Public Administrations, either conducted directly by Farid or through intermediaries, the Company undertakes not to affect in any improper and unlawful way the relevant decisions or to avoid the following conducts:
- proposing employment opportunities or personal benefits (commercial or any other type), and offering gifts or other benefits;
- trying to obtain and use confidential information that may harm the integrity and reputation of one or both;
- performing any action which may induce to have illegal, illegitimate and preferential behaviours to the detriment of transparency, impartiality, fair competition and the procedures and modes of action which the public entities must respect.
The Concerned Parties shall cooperate with the utmost honesty and good faith, and in conformity with applicable standard, with the Public Authorities and provide them promptly and correctly with all information which they may request, about the conduct of Farid, its economic, financial and accounting situation, its relations with employees, collaborators and competitors.
Without prejudice to the provisions of the regulations in the field of "trade union withdrawals", Farid does not provide, indirectly or via the Concerned Parties, support or advantages of any kind to political parties, organisations and/or committees or to the trade unions of the workers and their candidates and representatives.
11. OBSERVANCE OF THE CODE OF ETHICS
All the Concerned Parties shall be aware of and observe the rules contained in this Code of Ethics, whose widespread distribution both internal and external is ensured by Farid.
Farid encourages its collaborators and employees, as well as any third party who has occasional relationships with the Company, to report to the appropriate person(s) in charge of Farid and/or to the Supervisory Board (specially established in compliance with the provisions of the Decree) any breach of the provisions referred to in the preceding articles which have been put in place by the Concerned Parties.
Compliance with the rules laid down in this Code of Ethics should be considered as an essential part of the contractual obligations arising from the current working and/or collaboration relationship with the Company and of the fulfilment and execution of relations with the outside.
Farid promotes and encourages the reporting to the Supervisory Body - on the part of the same parties referred to in the previous paragraph - of any dysfunction of the Code or of the Business Model.
12. SANCTIONS
The Concerned Parties that put in place behaviours contrary to the provisions of this Code of Ethics will be liable for enforcement of disciplinary sanctions, additional to those laid down by the criminal, civil and administrative provisions applicable.
13. INFORMATION FLOW
Any notification may be submitted to the Supervisory Board by writing to: modello.organizzativo@faridindustrie.it