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A Policy on Solicitation and Acceptance of Gifts is a document that is meant to guide a company's directors, employees, and consultants on the acceptable practices for soliciting and accepting business courtesies within a company.
Companies usually strive to maintain a standard of honesty, integrity, and fairness in its business dealings and require its employees to do the same. To do this, the company would usually have a policy that outlines if and when it is allowed to receive gifts from persons, entities and organizations that have existing and/or future business dealings with the company (collectively, "Third Parties"). The main objective of a Policy on Solicitation and Acceptance of Gifts is to guide employees so that their objective and independent judgement is not affected by gifts from Third Parties.
This document provides a general Policy on Solicitation and Acceptance of Gifts which can be customized to fit the needs of the company. If the company wants to announce the implementation of the new Policy on Solicitation and Acceptance of Gifts, our Letter to Employees about New or Updated Work Policies may also be used.
How to use this document
The user will be asked questions as to what may or may not be solicited and/or accepted by directors, employees, and consultants. Once the document is completed, it should be printed for signature of the persons who approved it. Once the document is signed, it should be distributed to the directors, employees, and consultants of the corporation. This can be done through several means such as posting a copy in a place where it can easily be seen by anyone, distributing a hard copy or emailing a soft copy to each person, or it can also be posted in the company website.
The Revised Corporation Code of the Philippines and the Revised Code of Corporate Governance are some of the laws and regulations that affects the Policy on Solicitation and Acceptance of Gifts.
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