AS Liviko good business practice

The aim of AS Liviko is to be a company dealing with production, import and wholesale of wide selection of quality alcohol whose home market is the Baltic countries and the priority development trend is the export of own products. The mission of AS Liviko is the promotion of cultural and responsible way of thinking valuing quality among the consumers and resellers of alcohol. AS Liviko belongs to the group of NG Investeeringud.

The daily following of principles of our main values and exemplary business activities is important for AS Liviko. The main values of AS Liviko are honesty – we are open and sincere and do not distort the truth; consideration – we are friendly and helpful and open to solutions; reliability – we keep to our promises and applicable rules; innovativeness – we are open to innovative and up-to-date ideas, we pursue to be always one step ahead; and environmental awareness – we care about the environment surrounding us and use all resources as sparingly as possible.

The aim of good business practice is to assemble and specify the more important principles from which the employees and cooperation partners of AS Liviko are obliged to proceed in their activities. Good business practice makes a part of the long-term business strategy of AS Liviko. AS Liviko presumes honest, ethical and law-abiding behaviour from its employees and cooperation partners in all circumstances.

AS Liviko proceeds in its activities and the good business practice has been drawn up based on national and international guidelines and principles, including the sound governance practices of the Financial Supervision Authority and OECD guidelines for international companies, also the UN guiding principles for business and human rights.

Exemplary business principles of AS Liviko

AS Liviko proceeds in its activities from the following principles which are valid for As Liviko as well as employees, members of the management board and supervisory board of Liviko (hereinafter together referred to as the employees).All cooperation partners and their employees (hereinafter the Partner) are obliged to follow the principles which is the precondition for cooperation with AS Liviko, incl the violation of principles could be the basis for the termination of cooperation with cooperation partners.

Ethics and respect of law

  • All activities are based on the laws and other valid legal acts, principles and practice applicable in the relevant field of activity.
  • If the current principles or other mutual agreements include differences with other applicable legal acts, the stricter requirements will be followed in one’s activities.
  • AS Liviko, an employee and the Partner behave in their activities ethically, fairly and professionally.
  • The Partner applies these principles also in its business relations and makes all reasonable efforts that its own cooperation partners would follow the same principles.

Conflict of interests

  • The employees and the Partner act reliably and avoid situations where their personal as well as interests of their close persons were in contradiction with the interests of AS Liviko or where they could not act by considering the interests of AS Liviko.
  • The Partner and the employees immediately notify the competent persons of AS Liviko of the situations where the conflict of interests has occurred or there is a risk that it could occur.

Prohibition of corruption and prevention of money laundering

  • AS Liviko, an employee and the Partner apply zero tolerance to all forms of corruption, incl bribe, frauds or any other prohibited business practices, and follow this in all their activities. The position should not be used to gain profit or give an unfair advantage to any third person or offer any other merits in any of their activities.
  • The aim of making and receipt of gifts and mutual hospitality is only good will and creating of friendly work relations, not influencing someone for preferable behaviour or activity. The making and receiving of gifts and hospitality should proceed from valid legislation and specific internal regulations and avoid situations in every way where this could be interpreted as an illegal or any other suspicious activity. In case of doubt of suitability of gifts and hospitality the employees should always discuss it with direct superior and rather prefer not to make and receive gifts and avoid hospitality.
  • AS Liviko, an employee and the Partner are firmly against all forms of money laundering and apply all measures to prevent the financial transactions to be used for money laundering.

Confidentiality and handling of inside information

  • The Partner and the employees are obliged to keep and forward confidential information safely and secretly and should not misuse inside information disclosed to them. Thereby inside information is undisclosed specific information which directly or indirectly is related to AS Liviko. The business secrets of AS Liviko and other protected information on the company’s activities, technology, equipment, financial situation, contracts, clients, suppliers, cooperation partners or pricing policy is handled as confidential.
  • The Partner guarantees that in all its contractual relationships the keeping of confidential information of AS Liviko is covered by confidentiality requirement and the relevant obligation is also applied to all its employees and cooperation partners.

Supporting of free competition

  • AS Liviko, an employee and the Partner support free and honest competition in their activities by excluding the hindering, limiting and damaging of free competition in their business activities.
  • The Partner and the employees behave in compliance with the competition regulations and do not conclude illegal agreements nor act with someone based on the agreed method which would damage honest competition.

Social responsibility

  • All persons are treated equally and internationally recognized human rights are followed. No group or single person are discriminated for any reason, including for sex, age, race, sexual orientation, nationality, ethnical origin, disability, political beliefs, membership of the association or religious beliefs.
  • AS Liviko and the Partner support in every way the personal and professional development of employees by guaranteeing the compliance of working conditions with local legal acts and enabling them safe and healthy working environment.

Environmental awareness

  • AS Liviko, the employees and the Partner are environment saving and always proceed from the pursuit not to damage the environment in their activities.
  • AS Liviko, the employees and the Partner consider recycling, sustainable consumption habits, incl saving of electricity, water and heating, important and also protect the surrounding environment in their activities in every possible way.

Enforcement of principles of good business practice

All employees of AS Liviko are obliged to review the principles provided herein and follow these in their activities. The employees of AS Liviko are responsible for being introduced to these principles and behave accordingly and have cooperation on behalf of AS Liviko only with the cooperation partners who recognize the principles provided here. The violation of principles could involve the termination of employment contract within the scope allowed by law.

Good business practice is published on the website of AS Liviko www.liviko.ee, signed as the appendix of the contracts and it is obligatory for fulfilment for all companies of Liviko Group and cooperation partners. The cooperation partners of Liviko guarantee that their activities meet the principles handled herein and  ensure that their employees have been notified of the rights and obligations related to the principles. Liviko has the right to control the compliance of the Partners or their cooperation partners with the provided principles which could, among other things, mean the request of submission of relevant documents or on-the-spot auditing before or after starting mutual cooperation.

The violation of these principles of good business practice is considered a material violation of the contract by the Partner. At the establishing of violation AS Liviko could ask the Partner to make corrections or specifications in its activities. In case of material violation AS Liviko has thereby the right to review the terms of mutual contractual relation, the consequence of which could be the decrease of orders, reorganization of tasks or termination of contractual relations in certain cases.

Attention! Abusing alcoholic beverages can damage your health.

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