Code of Conduct of Veldener Präzisionstechnik GmbH



As a global enterprise, Veldener Präzisionstechnik GmbH bears a social responsibility towards customers, employees, shareholders and the public in general. We therefore place an emphasis on compliance with current laws at all times and anywhere. We respect ethical principles and act in a sustainable manner.
We are committed to the ten principles of the United Nations in the areas of human rights, labour standards, environmental protection and anti-corruption. We likewise conform to the working standards specified in the conventions of the International Labour Organisation (ILO).
This code of conduct sets forth the binding basic principles of responsible conduct for all Veldener employees, and in accordance with our corporate responsibility we expect:
- every supplier
- every business partners and
- their employees
to act responsibly and commit to the principles stated herein.
Insofar as suppliers or business partners retain third parties within the scope of their business relations with Veldener Präzisionstechnik GmbH, we also require them to commit to the defined principles.



Compliance with all applicable legislation follows from social responsibility. In particular of the following basic principles must be observed:


Human rights and freedom of association
Compliance with the globally valid laws for the protection of human rights as fundamental and universal guidelines. These include in particular the rejection of forced and child labour or human trafficking and observance of the regulations concerning legal minimum age and the basic freedom of association.


Equal rights and non-discrimination
Prohibition of discrimination on account of:
- ethnical or national affiliation
- race
- sex
- religion
- ideology
- age
- disability
- sexual orientation, or
- other legally protected characteristics, unless otherwise required by mandatory law.


Environmental protection
Awareness of responsibility concerning all environmental protection issues.
This includes:
- compliance with legal provisions concerning the environment and sustainability
- economical use of natural resources, and
- minimization of environmental impact.


Product safety
Observation of all applicable product safety regulations and guidelines, in particular:
- legal requirements concerning safety, labelling and packaging of products, and
- use of hazardous materials.


Safety at the workplace
Observance of all applicable regulations for safety and health protection at the workplace, and support in the development and improvement of working conditions.


Minimum wages
The appropriate remuneration of all employees is ensured. The level is oriented to the legal minimum wages or pay guaranteed under special tariff agreements and the respective labour market.



Openness and transparency are the keys for credibility and trust in business transactions, in particular through the observance of the following basic principles:


Avoidance of conflicts of interests
Regardless of personal interests and relationships, all decisions must be made on the basis of objective criteria.


Prohibition of corruption
All forms of corruption are prohibited:
- bribes
- kickbacks
- inadmissible donations
- other inadmissible payments or advantages over customers, officials or other third parties.


Gifts, hospitality and invitations
Direct or indirect, inappropriate benefits in the form of:
- financial support,
- gifts or
- invitations
for the purpose of imposing undue influence must be refused if they exceed a value of € 35. Hospitality within the limits of reasonable and usual business practice is permissible and must be notified to the Accounting Dept.


Dealings with authorities
Statutory regulations must be strictly observed in dealings with authorities and public bodies.


Consultants and brokers
Current legislation must be complied with when drawing on the services of consultants and brokers. Remuneration paid to consultants and brokers must be in proportion to the actual services rendered.



Contractual obligations are binding for fair and responsible market participants, in particular adherence to the following basic principles:


Free competition
Compliance with all applicable antitrust laws and rejection of:
- agreements with competitors and
- abuse of a dominant market position.


Export control
Compliance with all valid legislation concerning the import and export of goods, services and information.


Money laundering
Business relationships should be maintained only with business partners of integrity and in compliance with the valid legal provisions concerning money laundering.


Business information
The publication of business data and activities must reflect the truth and be in accordance with the relevant laws and regulations.



Confidential data, trade secrets and business assets must be protected, in particular by the observance of the following basic principles:


Data protection
All applicable laws for personal data concerning:
- employees
- customers
- suppliers and
- others
must be complied with.


Protection of know-how, patents, trade and business secrets
All trade and business secrets must be respected and such information may only be passed on to a third party with prior written consent.

Handling of business assets
Tangible and intangible assets must be:
- respected
- protected from damage or abuse
- and under no circumstances used for unlawful or non-company purposes.



A violation of the basic principles contained in this code of conduct may cause supply and business relationships or employment contracts to be terminated without notice.


Version 2.0

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