SERV bases its measures to prevent corruption on the Swiss Criminal Code, the Federal Act on Unfair Competition and the requirements of the Recommendation on Bribery and Officially Supported Export Credits of the OECD. SERV expects exporters to obey Swiss laws and the laws of the buyer’s country. This applies to corruption and bribery as well. This is why, all applicants are obliged to sign a declaration for the prevention of corruption. Investigations will be launched if there is a reasonable suspicion of corruption. SERV will reject insurance applications for transactions proven to be tainted by bribery or corruption.
If proof of corruption is obtained only after an insurance policy has been issued, it may be revoked on the grounds that important information was withheld from the decision-making bodies when the contract was concluded.
Indemnification payments for claims filed may be refused for the same reason. A temporary ban on future insurance policies may be imposed in particularly serious cases.
SERV encourages exporters to develop, establish and document adequate internal anti-corruption control processes.