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Corporate Governance > Company's Policies > Business Gift and Entertainment Guidelines

Business Gift and Entertainment Guidelines

(As approved by the Board of Directors on March 7, 2011)

 

These guidelines shall supplement the Company’s Gift and Entertainment policy included in the Company’s Employee Code of Conduct and shall be read in conjunction with the related Human Resources Personnel Policies.

 

In general, employees may accept a gift or an invitation to meals from clients or suppliers IF:

 

   · It is unsolicited. Employees are cautioned never to solicit directly or indirectly from clients or suppliers;

 

   · It is part of a business meeting or discussion;

 

   · It is a promotional item or token of nominal value under the client’s or supplier’s customer or client relations program; · It does not violate any laws;

 

   · Its value should not exceed P 2,000.00 (This amount supersedes, effective immediately, the Code of Conduct’s minimal value for gift set at P 500.00); and

 

   · It is not given to influence business judgment or action.

 

If the gift is more than P 2,000.00, and meets all the conditions stated above, the employee should accept it with gratitude on behalf of the Company and formally turn it over as Company’s property to the VP – Administration for proper disposition.

 

If you have any doubts about the propriety of the business gift or invitation, please consult your direct superior or the Company’s Human Resources management or Legal Counsel.