The objective of this Code of Conduct is to ensure the minimum performance standards for to be adhered by the Vendor/Service Provider of Tata AIA Life Insurance Company Limited ("TALIC"). TALIC aims to advance human dignity, reduce waste, improve efficiency, and safe and healthy workplace and encourage these best practices among Vendor/Service Provider. TALIC expect Vendor/Service Provider to have natural respect for our ethical standards in context of their own particular culture. TALIC expects its Vendor/Service Provider to extend the same principal of fair and honest dealing to all others with whom they do business, including employees, sub-contractors and other third parties. This Code of Conduct shall apply to all the Vendors/Service Providers who deals in with TALIC irrespective of whether it is for a particular activity or for a series of assignments.
TALIC supports Vendor/Service Provider adoption of their own codes or statements of best practices that include the following principles and core elements: Ethical Business Practices, Labour Standards, Health & Safety and Management Systems.
Vendor/Service Provider must comply with all applicable laws, regulations and standards in the location in which they operate. TALIC recognize that the standards set forth in this document may differ from local laws and customs, and TALIC expect Vendor/Service Provider to respect these standards within the context of the laws and cultural norms of their particular geography. This Statement of Vendor/ Service Provider is designed to complement their similar internal standards that they may have implemented already or may be working towards.
TALIC aspires to the highest standards of ethical conduct and expect our Vendor/Service Provider to aspire to same standards in their business practices and to develop training and implementation programs to assure that all employees and agents understand and adhere to these standards.
Business Integrity : The highest standards of integrity should be upheld in all business interactions. Any and all forms of corruption, extortion and embezzlement are unacceptable.
No Improper Advantage : Bribes or other means of obtaining undue or improper advantage are not to be offered or accepted. No festival gifts to be offered to TALIC employee. If evidence is found against any of the Vendor/Service Provider; all the Contracts/Purchase orders of the Vendor/Service Provider shall be terminated with immediate effect and the Vendor/Service provider will be black-listed for future business.
Disclosure of Information : Information regarding business activities, structure, financial situation and performance is to be disclosed in accordance with applicable regulations and prevailing industry practices. Vendor/Service Provider shall ensure at all times the integrity of data or information furnished by TALIC. Vendor/ Service Provider shall entirely be responsible in ensuring that the confidentiality of data is retained and in no circumstances transferred to an outsider, in the course of normal operations, without written approval of TALIC.
Intellectual Property : Intellectual property rights are to be respected; transfer of technology and know-how is to be done in a manner that protects intellectual property rights.
Intellectual property, including, but not limited to, patents, trademarks and copyrights, developed or otherwise acquired by Vendor/Service Provider, using TALIC resources, during their engagement with TALIC and which is related to TALIC's business, is the property of TALIC. Vendor/Service Provider having access to TALIC intellectual property must not improperly disclose or use the intellectual property either during or after association with TALIC unless proper authorization is received. Vendor/Service Provider must cooperate with TALIC in all efforts to secure its interest in intellectual property deemed to be the property of TALIC. Vendor/Service Provider may not use intellectual property obtained in the course of their engagement with another company without first obtaining permission from the other company. Vendor /Service Provider are not permitted to use or copy software or documentation, except as agreed upon in writing. Vendor/Service Provider, who are approached with any offer of confidential information that may have been obtained improperly, must immediately discuss this matter with the Legal & Compliance Team of TALIC.
Transparency : Information regarding business activities and performance should be informative and disclosed in accordance with applicable regulations and prevailing industry practices.
Antitrust and Fair competition : Vendor/ Service Provider shall provide superior products and services not through improper or anticompetitive practices but by maintaining healthy and prudent competitive practices. Vendor/Service Provider shall not violate the provisions of anti corruption laws including Prevention of Corruption Act to obtain or retain business and shall not indulge into any practices prohibited under anti corruption laws.
Trading in Securities : No Vendor/ Service Provider and immediate family shall derive any benefit or assist others to derive any benefit from the access to and possession of information of TALIC which is not in the public domain. No Vendor/ Service Provider shall use or proliferate information which is not available to the investing public and which therefore constitutes insider information for making or giving advice on investment decisions on the securities of TALIC on which such insider information has been obtained.
Such insider information shall include but not limited to:
Vendor/Service Provider are committed to uphold the human rights for employees, treat them with dignity, and respect as understood by international community.
Forced Labour: Employees should not be forced, bonded, indentured, or subjected to involuntary prison labor.
Child Labor Avoidance : Vendor/Service Provider and their sub contractors will not hire any person under the age for completing compulsory education, or under the minimum age for employment in the state, whichever is greatest.
Working Hours: Working time of the employee of the Vendor/Service Provider shall be as per Shop & Establishment Act or other relevant Act prevailing in the said geography.
Respect in the Workplace: Vendor/Service Provider and their sub contractors will treat with respect and dignity and ensure employees are not subjected to any form of physical, sexual, psychological or verbal harassment or abuse
Wages and Benefits: Compensation should comply with all applicable wage laws, including those relating to minimum wages, timely wages, overtime hours and legally mandated benefits.
Health and Safety: Vendor/Service Provider should provide adequate and safe working conditions and comply with applicable health and safety policies and laws.
Vendor/Service Provider shall recognize that a safe and healthy work environment enhances the quality of products and services, consistency of production and employees' morale. Vendor/Service Provider also recognize that ongoing employee input and education is a key to identifying and solving health and safety issues in the workplace. TALIC encourage Vendor/Service Provider to join in similar sustainability efforts. TALIC targets for Vendor/Service Provider to continuously maintain:
Occupational Safety: Employees exposure to potential safety hazards are to be controlled through proper design, engineering and administrative controls, preventative maintenance and safe work procedures. Where hazards cannot be adequately controlled by these means, employees are to be provided with appropriate personal protective equipment. Employees shall be disciplined for raising safety concerns.
Emergency Preparedness: Emergency situations and events are to be identified and assessed, and their impact minimized by implementing emergency plans and response procedures, including: emergency reporting, employee notification and evacuation procedures, employees training and drills, appropriate fire detection and suppression equipment, adequate exit facilities and recovery plans.
Occupational Injury and Illness: Procedures and systems are to be in place to manage, track and report occupational injury and illness, including provisions to: a) encourage employee reporting; b) classify and record injury and illness cases; c) provide necessary medical treatment; and d) investigate cases and implement corrective actions to eliminate their causes.
Vendor/Service Provider shall adopt or establish a management system whose scope is related to the content of this Code. The management system shall be designed to ensure compliance with applicable laws, regulations and customer requirements related to their operations and products/services; conformance with this Code; and identification and mitigation of operational risks related to this Code.
The Management systems shall recognize and ensure Corporate Social responsibility, Legal & customer requirements, proper Risk Assessment & Risk Management, imparting periodical Training, employee feedback and participation, Audit and Assessments, corrective action process, retention of Documentation and records.
Vendor/Service Provider shall operate in full compliance with the laws of their respective jurisdiction and with all other applicable laws, rules and regulationNote:
This Statement of Principles neither constitutes nor should be construed to constitute a contract and nothing contained or implied herein is intended or shall be construed to create or convey upon any person or entity, including employees, any benefits, rights, actions or remedies.