Policy against bribery

SEK Anti-Corruption Policy

SEK does not grant credits that involve corruption. The borrower runs the risk of the SEK credit being cancelled, if corruption is revealed in the export transaction. 

Procedures

SEK requires verification from all applicants that the transaction to which the application applies is free from corruption. SEK's credit may become cancelled, if it later transpires that the export transaction in question has involved corruption.

A statement from the exporter is required both when the applicant is the exporter itself or a bank. 

The applicant is required to declare that: 

1. the applicant (exporter/bank), nor anyone acting on its behalf, in connection with the credit transaction that the application refers to, have been engaged or will engage in bribery or other inappropriate reward as mentioned above,
2. the applicant (exporter/bank) is aware of the fact that the granted credit may be called, that the outstanding balance plus interest and costs according to the conditions for the credit, in such case shall be prepaid to SEK, if the applicant, or anyone acting on its behalf, have been engaged or will engage in  bribery or other inappropriate reward as mentioned above, also,
   
3. the applicant (exporter/bank) will indemnify SEK for all its costs and expenses which will be the consequences of that the applicant, or anyone acting on its behalf, have been engaged or will engage in bribery or other inappropriate reward as mentioned above.

Information is available from SEK concerning the consequences of contravening bribery and corruption laws.