What is a Cartel?
A cartel is defined as an organization created from a formal agreement between a group of producers of a good or service to control supply in the hope to regulate or manipulate prices.
A collection of independent businesses or countries that act together like a single producer, cartel members may agree on prices, total industry output, market shares, allocation of customers, allocation of territories, and the division of profits.
Get Cracking will not tolerate Cartel Conduct
Get Cracking abides by Anti-Trust laws and regulations in every country that we operate. Involvement in any cartel is unacceptable.
The laws and regulations that sanction cartel conduct are in place in most jurisdictions. These laws and regulations are designed to promote free and fair competition and to protect consumers. Anti-Trust compliance programs are e to detect and prevent cartels.
Get Cracking is aware of all applicable laws and regulations in relation to anti-competitive price fixing, which must also be shared with all service providers we work with in every jurisdiction.
Get Cracking pledge to take a zero-tolerance approach to cartel conduct. GC will act professionally, fairly and with the utmost integrity in all business dealings and relationships. This will apply wherever they operate in the world.
Code of Conduct to Mitigate Risk of Cartels
- Never propose or plan with a competitor regarding price fixing, diving or sharing markets or rigging competitive bidding process.
- Never propose or plan with a competitor regarding entering into a cartel to gain advantage.
- Report to legal department or relevant Anti-Trust authorities any improper anti-competitive behaviour.
- At all times, employees must maintain independent decision making in pricing or selling any products / services.
- Staff must be trained on how to deal with the possibility of cartel activity and should immediately ask for discussion to cease.
- Limit any information discussed during commercial negotiations, with or disclosed to competitors or other third parties, to that which is strictly necessary for completing or assessing the transaction.
Get Cracking always abides by the FIDI Anti-Trust Charter. You can find this charter by accessing this LINK