Facilitation Payments Seen as Problematic by Many... ( ANNAPOLIS Md. Oct. 5 /- Although faci...)

Facilitation Payments Seen as Problematic by Many Companies

Date:10/5/2009

ANNAPOLIS, Md., Oct. 5 /PRNewswire/ -- Although facilitation payments are still permitted by some countries, many companies say banning them would make no difference to their businesses, according to survey results released today by TRACE, a non-profit membership association providing anti-bribery compliance solutions for multinational companies and their commercial intermediaries.

Such payments -- also called "expediting payments" or "grease payments" -- are bribes permitted under United States, Canadian, Australian, New Zealand and South Korean laws to encourage government officials in other nations to perform or expedite routine tasks that are a part of their usual responsibilities, such as connecting phones, delivering mail, completing inspections, and processing shipments through customs.

"Facilitating payments are a hot topic of debate in the anti-bribery compliance community," said Alexandra Wrage, President of TRACE. "In our benchmarking survey, more than 45 percent of respondents said that if such payments were prohibited everywhere, their jobs would be easier, and another 48 percent said such a prohibition would not affect their jobs at all. Fewer than 7 percent of these business people said their jobs would be more difficult if facilitation payments were banned. Our finding that 93 percent of respondents' jobs would be easier or unaffected if facilitation payments were banned confirms the growing recognition worldwide that what grease payments tend to facilitate is more demands, and, in many cases, they make doing business even more difficult."

The TRACE survey underscored considerable differences in how corporations treat facilitation payments, and clear patterns emerged regarding how payments are perceived, the level of risk they pose to corporations, and the guidance respondents would find useful from government authorities and regulating agencies to understand what is permissible when making them.

SOURCE TRACE
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4
Related medicine technology :

1. Alseres Pharmaceuticals Enters Agreement to Amend Cethrin(R) License to Lower Milestone Payments and Royalty Rates
2. The Quigley Corporation Licenses Naturally Derived Compound For Scar Improvement; License Requires Payments Totaling $1.1 Million To The Quigley Corporation Over A Five Year Period For Exclusive Ownership
3. Johnson & Johnson Announces Support for Kohl-Grassley Physician Payments Sunshine Act of 2009
4. Pharmaceutical Companies Lead Fight Against Staph and Other Infectious Diseases
5. UM Maryland Industrial Partnerships Program Approves 18 Collaborative Research Projects, Worth $4.4 Million, Between University Faculty, State Technology Companies
6. Transgenomic Announces New Contracts for Phase II Trials With Two Major Pharmaceutical Companies
7. Magellan Biosciences Companies to Feature Automated Products and New Tests for MRSA at the American Society for Microbiology Meeting, Booth 743
8. R&D Spending by U.S. Biopharmaceutical Companies Reaches Record Levels in 2008 Despite Economic Challenges
9. BIOCOMs 4th Annual DeviceFest Honors Companies
10. invivodata Recognized as One of Pittsburghs Fastest Growing Private Companies
11. Announcing Companies to Present at the 7th Annual MidAmerica Healthcare Venture Forum

Post Your Comments:

(Date:6/19/2013)... 19, 2013 NextDocs announced today that ... research organization, at DIA 2013 , the Drug ... present case studies that explore best practices for making ... trial master file (eTMF) systems. Sharon ... alongside Krystyna Kowalczyk , executive vice president of ...

(Date:6/19/2013)... June 19, 2013 Finesse Solutions, Inc, a ... sciences process applications, announced the launch of its ... cell culture and fermentation. The 3L glass vessels ... of Finesse bioreactors and are designed to optimize ... are fully compatible with all Finesse G3Lab controllers, ...

(Date:6/19/2013)... , June 19, 2013 ... recently added DrugPatentWatch to its extensive ... ) (Logo: http://photos.prnewswire.com/prnh/20130128/590935) ... information on pharmaceutical, drug patents and ... the critical business functions of patent ...

Breaking Medicine Technology:NextDocs and Novella to Present on eTMF at DIA 2013 2 Finesse Solutions Launches Next Generation SmartGlass 3L Bioreactors for Cell Culture and Fermentation 2 Drug Patent Watch 2 Drug Patent Watch 3

[0] NextDocs and Novella to Present on eTMF at DIA 2013 [0] Finesse Solutions Launches Next Generation SmartGlass 3L Bioreactors for Cell Culture and Fermentation [0] Drug Patent Watch

... to be held on Wednesday, August 6, 2008 at 8:00 ... ... 5 Isolagen(TM), Inc. (Amex:,ILE) announced today positive top-line efficacy and safety ... the,Isolagen Therapy(TM) for the treatment of nasolabial folds, or wrinkles.,Each study, conducted ...

... WHIPPANY, N.J., Aug. 5 Nexgen Spine, a ... treatment of,degenerative disc disease, announced today that it ... Lumbar Artificial Disc in the European,Union., "We ... has,received CE mark approval," said Alastair Clemow, Ph.D., ...

Cached Medicine Technology:Isolagen, Inc. Reports Positive Top-line Results from Pivotal Phase III Studies of Isolagen Therapy(TM) in Wrinkles: Studies Meet All Primary Efficacy Endpoints and are Statistically Significant 2 Isolagen, Inc. Reports Positive Top-line Results from Pivotal Phase III Studies of Isolagen Therapy(TM) in Wrinkles: Studies Meet All Primary Efficacy Endpoints and are Statistically Significant 3 Isolagen, Inc. Reports Positive Top-line Results from Pivotal Phase III Studies of Isolagen Therapy(TM) in Wrinkles: Studies Meet All Primary Efficacy Endpoints and are Statistically Significant 4 Isolagen, Inc. Reports Positive Top-line Results from Pivotal Phase III Studies of Isolagen Therapy(TM) in Wrinkles: Studies Meet All Primary Efficacy Endpoints and are Statistically Significant 5 Nexgen Spine Receives CE Mark Approval for the Physio-L(R) Artificial Disc 2

Isolagen, Inc. Reports Positive Top-line Results from Pivotal Phase III Studies of Isolagen Therapy(TM) in Wrinkles: Studies Meet All Primary Efficacy Endpoints and are Statistically Significant Nexgen Spine Receives CE Mark Approval for the Physio-L(R) Artificial Disc

(Date:6/20/2013)... June 20, 2013 Footwear etc. is pleased ... USA , and has received many new styles and colors ... models, and models never before introduced in the U.S. The ... loyal following of MBT customers. , MBT shoes feature a ... on sand. This sole also provides outstanding shock absorption, and ...

(Date:6/20/2013)... June 20, 2013 TASC, a ... announced a new service to deal with funding ... the Patient Protection & Affordable Care Act (PPACA), ... health outcomes, clinical effectiveness, and appropriateness" of different ... and conduct its own, with funding in part ...

(Date:6/20/2013)... David Icke, the highly visible alternative researcher and ... , Fresh from the Bilderburg fringe festival and the ... to launch ‘The Peoples Voice’ TV and Radio station by ... opportunity for journalists to cover the stories and investigations that ... globe. , Because this station is for the people, ...

(Date:6/20/2013)... Sydney, Australia (PRWEB) June 20, 2013 ... , research was presented recently, that can show similarities ... food. This could explain the current global obesity ... be addicted to food just as one can be ... Neuroscience and Applied Cognitive Science at the University of ...

(Date:6/20/2013)... 2013 HIPAA One aims ... through a HIPAA Security Risk Analysis using the simplest ... extends the reach of all the HIPAA programs by ... Privacy Officers, security professionals, and members of the Healthcare ... policies and procedures. The new Web site features ...

Breaking Medicine News(10 mins):Health News:Footwear etc. Announces New MBT Shoes for Spring/Summer 2 Health News:TASC Service Helps Employers Handle New Burdens for Health Reimbursement Arrangement Plans 2 Health News:Research Suggests That Unhealthy Food Addiction Could Explain Global Obesity Epidemic 2 Health News:Modern Compliance Solutions Launches a New Web Site Promoting the Industry-Proven, Web-Based HIPAA One Security Solution 2

[0] Footwear etc. Announces New MBT Shoes for Spring/Summer [0] TASC Service Helps Employers Handle New Burdens for Health Reimbursement Arrangement Plans [0] David Icke to Launch Global TV and Radio Station Called The People's Voice [0] Research Suggests That Unhealthy Food Addiction Could Explain Global Obesity Epidemic [0] Modern Compliance Solutions Launches a New Web Site Promoting the Industry-Proven, Web-Based HIPAA One Security Solution

... - Sanofi Pasteur committed to increasing its seasonal ... production capacity in the U.S. -SWIFTWATER, Pa. and ... vaccines division of sanofi-aventis Group (EURONEXT: SAN and ... the U.S. Food and Drug Administration (FDA) has ...

... May 6 Funds in the FY 2010 budget aimed ... to improve access to outpatient physical therapy services for Medicare ... Therapy Association (APTA). S.Con.Res.13 ... 2009-FY 2014, was passed April 29 by the House of ...

... Mary Bono Mack (CA-45) and Nita Lowey (NY-18) ... and well-being of American youth by reintroducing the ... The bipartisan legislation, broadly supported by such organizations ... cross-sector collaboration for improving the health of young ...

... Team Finance LLC (the "Company"), today announced results for the ... uncollectibles ("revenue less provision") in the first quarter of 2009 ... first quarter of 2008. Same contract revenue less provision ... million in the same period a year ago. In ...

... bare-metal version, studies show , , WEDNESDAY, May 6 ... stents are less likely to become blocked again than ... and heart attacks is virtually identical between the two ... show. , The Swedish results eliminate concerns raised by ...

... of those hospitalized in U.S. is 15, CDC says , , ... of U.S. cases of swine flu continue to be mild, ... be atypically young, federal health officials said Wednesday. , The ... which is younger than occurs with regular seasonal flu, Dr. ...

U.S. FDA Licenses Sanofi Pasteur's New Influenza Vaccine Manufacturing Facility Funds in 2010 Budget Could Increase Access to Care for Medicare Beneficiaries Bono Mack, Lowey Introduce Bill To Improve the Health of Youth Team Finance LLC Announces First Quarter 2009 Results Drug-Coated Stents Better at Keeping Arteries Open Younger Age of More Severe Swine Flu Cases Worries Experts

The Atria 6100 delivers the highest level of clinical performance while incorporating cutting-edge technology to streamline clinic workflow. It offers timely, high-quality, and accurate ECG results c...

... The new Guidant VASOVIEW® HemoPro™ ... deliver a new level of ... for both the saphenous vein ... cut-and-seal capability, it lets you ...

Patient Monitor...

...

Medicine Products:

Atria 6100 VASOVIEW® HemoPro™ Endoscopic Vessel Harvesting System PM-9000 Express Patient Monitor BC-3200 Auto Hematology Analyzer