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Code

Purpose

Kvant is committed to upholding the highest ethical standards, and we understand that our customers, employees, and the communities we serve expect us to operate as a lawful, reliable, and ethical business. We hold our Suppliers to the same expectations and require them to adhere to this Code of Conduct.  In addition to complying with all applicable laws and regulations in the countries where Kvant and our Suppliers operate, we encourage our Suppliers to surpass legal requirements by embracing relevant international standards and striving for continuous improvement.  This Supplier Code of Conduct serves as a guide to help you understand Kvant’s business values and your responsibilities as a Supplier. We urge you to thoroughly read and share it with all personnel involved in working with or supporting Kvant.  While the standards outlined in this Supplier Code of Conduct are meant to guide your role as a Kvant Supplier, they do not replace any specific contractual or legal obligations imposed on you. Instead, this Code establishes the fundamental principles of business conduct that Kvant expects from its Suppliers. If you are bound by stricter or more detailed requirements under contract or applicable law, we expect you to meet those higher standards.  The creation of this Supplier Code of Conduct is based on internationally recognized standards and applicable laws, ensuring its alignment with best practices in the industry.

Eligibility

All Suppliers (vendors) of Kvant, irrespective of the product or service they offer, are subject to the eligibility criteria outlined in this Supplier Code of Conduct.

Definitions

Kvant – Kvant refers to Kvant Displays Ltd and all subsidiaries, both direct and indirect, in which Kvant Displays Ltd holds a majority of shares or exercises effective control.

Local Law – Local Law encompasses all relevant local laws, rules, or regulations, as well as any applicable collective agreements, works council agreements, and related agreements.

Supplier – A Supplier is any third-party entity that offers services or goods to Kvant.

ESG – Responsible investing involves integrating environmental, social, and governance (ESG) factors into investment processes and decision-making.

This Supplier Code of Conduct outlines requirements in the following areas:

– Ethics
– Human rights and working conditions
– Health and Safety
– Environment
– Compliance Management Systems.

Ethics

Kvant Suppliers are obligated to operate their business in strict adherence to the utmost ethical standards and all relevant laws, ensuring that this commitment extends across their entire supply chain.

Act ethically

Acting ethically is of utmost importance when conducting business with Kvant customers or on behalf of Kvant’s business. Suppliers are expected to adhere to applicable laws, maintain integrity, fairness, and respect, and conduct all activities in an ethical manner. It is crucial for all business dealings to be transparent and accurately recorded in their records.  Kvant requires Suppliers to have a compliance program, policies, procedures, and internal controls in place at all times to ensure compliance with applicable laws and the standards outlined in the Supplier Code of Conduct. This includes designing, implementing, and maintaining a comprehensive compliance program that aligns with Kvant’s business.  All Supplier staff who interact with Kvant or perform any activities on behalf of Kvant must receive adequate training on the compliance program and the Supplier Code of Conduct. By implementing formal policies and procedures related to business conduct and compliance, it helps drive ethical and honest business practices while ensuring full compliance with all laws and regulations.

Refrain from engaging in bribery, whether giving or receiving

Kvant Suppliers shall not engage in corruption, extortion, embezzlement or money laundering in any form, offer, give, receive, or solicit any bribes or employ other means to obtain any improper benefit or advantage in the conduct of their business. Kvant Suppliers shall not allow others to make improper payments for their benefit.

Kvant Suppliers must comply with all applicable anti-corruption, anti-bribery and anti-money laundering laws and regulations, including the U.S. Foreign Corrupt Practices Act, the UK Anti-Bribery Act, as well as laws governing lobbying, gifts, donations, hiring, and payments to government officials, political campaign contribution laws, and other related regulations.

All countries in which Kvant conducts business prohibit bribery. Typically, these laws prohibit providing, or promising to provide, any money or anything of value to a government official, in order to obtain or retain business, or to secure any improper advantage. In some countries this prohibition extends to the commercial context as well (i.e., bribery of employees of private companies). These prohibitions apply whether such action is taken directly, by Kvant’s employees or through third parties, such as agents, consultants and intermediaries. It is also illegal and against Kvant policy for Suppliers to solicit or accept any payment or anything else of value in return for improperly performing a function of their employment with a Supplier or a duty to Kvant. Violation of these laws is a crime that can result in severe fines and criminal penalties. Accordingly, Suppliers must not offer, give, solicit, or receive any form of bribe or kickback anywhere in the world.

It is a violation of this Supplier Code of Conduct (and may be a breach of law) for Suppliers to offer or make a payment or gift of any kind in order to facilitate a local process or to influence a local government official, however small the payment or routine the government function involved.

Furthermore, Suppliers are strictly prohibited from engaging in bribery, providing kickbacks, or making any improper payments or gifts to any individual associated with Kvant. It is also forbidden for Suppliers to solicit bribes or kickbacks from Kvant or any other entity. Kvant Suppliers are required to promptly notify Kvant if they become aware of any inappropriate requests or demands made by any officer, director, employee, representative, or agent of Kvant.

Ensure precise accounting documentation

Kvant Suppliers are required to maintain their accounting records in compliance with relevant laws and regulations, ensuring that they accurately and fairly represent all transactions, assets, liabilities, revenues, and expenses without any false or misleading entries. Additionally, Kvant Suppliers must establish strong procedures to detect and prevent fraud promptly.

Disclose information truthfully

Kvant requires that all its Suppliers disclose information accurately and honestly, specifically related to their business operations, organizational structure, financial status, and overall performance. This disclosure should be in compliance with relevant laws, regulations, and industry standards.

Respect Intellectual Property Rights

Kvant Suppliers are committed to upholding intellectual property rights at all times. The transfer of technology and know-how will be conducted in a manner that ensures the protection of intellectual property rights.  Kvant Suppliers will adhere to all relevant laws and regulations concerning intellectual property and will not engage in any activities that violate, misappropriate, or infringe upon the intellectual property rights of any individual or entity, including intellectual property owned by Kvant, its clients, or other business partners.  Kvant Suppliers will exclusively utilize information technology and software that has been obtained and licensed through legitimate means. They will also employ only legal methods for gathering competitive intelligence on products that rival Kvant’s technologies.

Do not use counterfeit parts

The utilization of counterfeit parts should be strictly avoided.  Counterfeit parts refer to items that are falsely presented with the purpose of deceiving those who purchase or use them. It is crucial for Kvant Suppliers to take necessary measures to prevent the inclusion of such parts in the supply chain.  In order to achieve this, Kvant Suppliers must:

  1. Employ all suitable methods to minimize the possibility of counterfeit parts being supplied to Kvant.
  2. Immediately inform Kvant in written form as soon as they become aware or are notified about the delivery of counterfeit parts to Kvant.

Acknowledge and safeguard the confidential information of Kvant and others 

Kvant Suppliers may occasionally come into contact with confidential information belonging to Kvant employees, customers, consumers, developers, and other individuals. It is imperative that Kvant Suppliers acknowledge this information and take necessary measures to ensure its protection against misuse and unauthorized disclosure. Suppliers of Kvant who come across material, nonpublic information about public companies, including Kvant’s customers, due to their association with Kvant, are legally and by Kvant policy prohibited from engaging in any transactions involving stocks or securities based on that information. Furthermore, Kvant Suppliers must refrain from sharing such information with others who may use it for trading purposes. In the event of a potential unauthorized disclosure, Kvant Suppliers are required to promptly report the incident to Kvant. For any inquiries, please reach out to your designated Kvant representative for assistance.

Respect privacy

Kvant requires that its Suppliers adhere to privacy and information security regulations when handling personal data of customers, suppliers, consumers, and employees. Suppliers must prioritize safeguarding the privacy of personal information for all parties involved in business transactions.

Comply with fair business, advertising and competition laws

Kvant Suppliers are required to adhere to and abide by all relevant fair business, advertising, and competition laws. This includes complying with fair trading and antitrust laws. Kvant’s policy is to engage in vigorous and ethical competition while ensuring compliance with all antitrust and competition laws. These laws are in place to safeguard consumers and competitors against unfair business practices and to foster and maintain healthy competition. Such laws prohibit or restrict activities such as price fixing, coordination, or control, as well as the allocation or division of customers, territories, or markets. Consequently, Suppliers should exercise caution when communicating with competitors regarding any aspect of Kvant’s business, whether it be at industry events or trade associations.   Kvant Suppliers must demonstrate a commitment to conducting business honestly, ethically, respectfully, and fairly with one another, as well as with our competitors, customers, and other Suppliers. This aligns with Kvant’s core principle and is the expected behavior. Suppliers are prohibited from making false, misleading, deceptive, or fraudulent statements about Kvant’s products and services to any third party. Additionally, Suppliers must not engage in unfair practices that exploit others through manipulation, concealment, abuse of privileged information, misrepresentation, or any other form of unfair dealing.

Avoid conflicts of interest

Kvant Suppliers are required to prevent conflicts of interest by disclosing any personal or external business arrangements between their employees and themselves, as well as any Kvant employees or their families. If a “conflict of interest” arises, Kvant Suppliers must promptly notify Kvant in writing. A “conflict of interest” refers to any situation, transaction, or relationship involving a Supplier that may improperly interfere, or give the appearance of improperly interfering, with the interests of Kvant or the duties owed to Kvant by its employees or Suppliers.

Source your materials responsibly

Kvant Suppliers are required to ensure that any components, parts, or products they manufacture containing tin, tantalum, tungsten, or gold are sourced from environmentally and socially responsible sources. Any materials that are linked to conflicts, either directly or indirectly, are not permitted. Suppliers falling under this category must conduct thorough due diligence on the origin and chain of custody of these minerals, and provide any due diligence information to Kvant upon request.

Respect international trade restrictions

It is crucial for Kvant, a global business facilitating location-based services worldwide, to adhere to international trade restrictions. These restrictions include trade sanctions and export controls imposed by the U.S., E.U., and other countries. Kvant must comply with these regulations, even when conducting business indirectly through partners. However, these restrictions can sometimes be contradictory. Therefore, it is essential for Kvant to have a clear understanding of where its services and solutions are being provided and accessed, as well as the origin of its raw materials and technology.  To ensure compliance, Kvant Suppliers are obligated to follow all relevant international and national laws, regulations, and controls governing the transfer, access, export, re-export, and import of products, services, and technology. If applicable, suppliers must establish robust compliance programs and policies to effectively manage technologies, products, and technical data that are controlled or restricted by law.  Furthermore, Kvant Suppliers are prohibited from providing Kvant with controlled technologies, products, or technical data without notifying Kvant of any necessary controls. This is crucial for Kvant to maintain compliance with applicable laws.

Land, forest, water rights and forced eviction

Kvant Suppliers must uphold the rights to water and sanitation of individuals who may be impacted by their operations, such as employees, contractors, and nearby communities. They should strive to prevent any harm to land, forests, or water sources in their operational areas, and if unavoidable, they should implement measures to address the impact. Additionally, Kvant Suppliers should refrain from carrying out forced evictions or displacements when acquiring land for their business activities.

Animal welfare

Kvant Suppliers must prioritize animal welfare when sourcing materials derived from animals and adhere to relevant laws, both locally and internationally.

Human Rights and Working Conditions

Kvant Suppliers are obligated to adhere to all legal requirements and regulations that safeguard the rights of their workforce, whether they are employees or external workers. Moreover, they must guarantee that human resources are effectively managed in alignment with globally acknowledged principles of corporate responsibility. This encompasses a wide range of responsibilities, not limited to:

Ensure that employment is freely chosen

Kvant Suppliers are strictly prohibited from engaging in any form of forced, bonded, compulsory, or imprisoned labor, and they are also required to ensure that such practices are not present within their supply chains. Furthermore, Kvant Suppliers are obligated to refrain from coercing individuals into performing work and must not be associated with any activities related to human trafficking.

Do not use child labor

A “child” refers to an individual who is below the age of (i) 15 years old (or the minimum age required by the relevant Local law for employment); (ii) the minimum age required to complete compulsory education in the country where they work; or (iii) the minimum age required for employment in that particular country, whichever is the highest. Moreover, we anticipate that Kvant Suppliers will abstain from employing individuals under the age of 18 for tasks that may potentially endanger their health, safety, or moral well-being.

Provide adequate compensation and benefits

Kvant Suppliers must guarantee that their staff members are provided with, at the very least, the minimum compensation, benefits, and overtime pay mandated by legislation.

Provide employees adequate time off

Kvant Suppliers must ensure that workweeks do not surpass the maximum working hours set by Local Laws or relevant collective agreements, unless in emergency or exceptional circumstances with the employees’ approval.

Treat employees with respect and dignity (No harassment)

Kvant Suppliers must uphold a standard of respect and dignity towards all employees, guaranteeing their protection from any type of abuse, coercion, or harassment, whether physical, sexual, verbal, or otherwise.

Do not discriminate in employment or hiring practices

Kvant Suppliers are committed to fair employment practices and do not tolerate discrimination based on race, color, age, gender, gender identity or expression, sexual orientation, ethnicity, disability, pregnancy, religion, political affiliation, union membership, marital status, or any irrelevant status or characteristic. Discrimination is strictly prohibited in all aspects of employment and hiring.

Respect women’s rights

Kvant Suppliers must recognize that women’s rights are human rights. According to the United Nations’ 1948 Universal Declaration of Human Rights, every individual is “born free and equal in dignity and rights.” Therefore, Kvant Suppliers should ensure that all their employees, irrespective of gender, are granted freedom, dignity, and equal rights.

Rights of minorities and indigenous peoples

Kvant acknowledges that specific segments of society may face heightened vulnerability to discrimination, encompassing indigenous communities, national or ethnic, religious and linguistic minorities, children, LGBTQ+ individuals, people with disabilities, and migrant workers and their families. Kvant is dedicated to upholding the rights of these individuals.

Use of public and/or private security forces

Kvant Suppliers ensure that when collaborating with public and/or private security entities to safeguard their facilities and personnel, they do so in a manner that upholds and strengthens the principles of human rights.

Allow freedom of association

Kvant Suppliers must acknowledge the rights of their employees to either join or abstain from joining labor unions or associations, as well as to engage in collective bargaining in accordance with the law.

Health and Safety

Kvant Suppliers are required to ensure that their employees are provided with a secure and healthy work environment that adheres to all relevant laws and regulations. It is expected that Kvant Suppliers have robust safety programs in place that address various aspects such as human safety, emergency readiness, exposure to chemicals, physical and biological agents, as well as ergonomics, including incident reporting and investigation.

Follow a Health & Safety policy & management system

Kvant Suppliers is required to establish a Health and Safety policy and adopt a Health and Safety management system (EHS) in order to pursue certification from an accredited third-party agency, such as ISO 45001, for compliance with the relevant health and safety management system standard.

Environment

Kvant Suppliers need to reduce the adverse effects that their business activities may have on the community, environment, and natural resources across their supply chain.

Comply with applicable laws and Kvant requirements

Kvant Suppliers are required to comply with all relevant laws, regulations, and any additional environmental obligations that have been mutually agreed upon with Kvant.

Obtain necessary permits and observe reporting requirements

Kvant Suppliers are required to acquire, uphold, and ensure the validity of all relevant environmental permits, approvals, and registrations. It is expected that Suppliers adhere to and comply with the applicable operational and reporting obligations.

Do not pollute the environment or waste resources

Kvant Suppliers are required to assess and measure the environmental impact of their operations, products, and/or services. They should make efforts to reduce water consumption and find ways to minimize waste generation while promoting reuse and recycling. In addition, Kvant Suppliers should explore methods to enhance energy efficiency, including quantifying, disclosing, and reducing greenhouse gas emissions. They should also encourage their suppliers to adopt similar practices. Furthermore, Kvant Suppliers should strive to obtain energy from renewable sources rather than relying on fossil fuels. To minimize air pollution, they must characterize, monitor, control, and treat air emissions before releasing volatile organic chemicals, aerosols, corrosives, particulates, ozone-depleting chemicals, and combustion by-products. When necessary, Kvant Suppliers should identify, monitor, and manage their impact on soil quality to prevent any harmful changes. Similarly, they should identify, monitor, and control noise pollution levels to minimize noise pollution whenever appropriate. Lastly, Kvant Suppliers should make an effort to limit the impact of their operations on biodiversity and ecosystems, where applicable.

Control any hazardous substances

Kvant Suppliers must identify and manage chemical and other materials that may pose a risk to the environment when released, in order to guarantee their safe handling, transportation, storage, utilization, recycling, or disposal.

Implement proper waste management processes

Kvant Suppliers must adhere to legal regulations and best environmental practices when managing wastewater and solid waste produced from their operations and sanitation facilities.

Follow an environmental management system

Kvant Suppliers will establish an Environmental policy and execute an Environmental management system (EMS) in order to achieve certification against the relevant Environmental management system standard like ISO 14001 through an accredited third-party organization.

Integrate environmental and social factors within Kvant Suppliers’ procurement

Kvant Suppliers must verify that their suppliers are considering social and environmental factors and incorporating them into their procurement processes whenever they buy components, materials, or services from a third-party.

Compliance Management Systems

vant Suppliers must implement effective management systems to guarantee adherence to both this Supplier Code of Conduct and relevant laws.

Commit to corporate, social and environmental responsibility

Kvant Suppliers are strongly encouraged to provide corporate, social, and environmental responsibility statements that are supported by executive management. These statements should demonstrate their dedication to the principles and subjects outlined in this Supplier Code of Conduct, as well as their ongoing efforts to enhance their performance.

Know who is responsible

Kvant Suppliers are required to designate a responsible individual within their organization who will oversee the implementation of their management systems and associated programs.

Understand your obligations

Kvant Suppliers must have effective procedures to recognize, track, and comprehend relevant laws, regulations, and Kvant’s standards, which also encompass the guidelines outlined in this Supplier Code of Conduct.

Assess and manage your risks

Kvant Suppliers must establish effective processes to recognize various risks linked to their activities, including environmental, health and safety, labor and human rights, ethics, and legal compliance risks. They should also implement suitable measures and controls to address these risks and guarantee compliance with regulations.

Communicate your expectations clearly and provide adequate training

Kvant Suppliers must establish adequate procedures to effectively communicate transparent and precise information regarding their policies, expectations, and performance, including the stipulations outlined in this Supplier Code of Conduct, to their employees, suppliers, and customers. Furthermore, Kvant Suppliers should implement comprehensive training programs to ensure the proper execution of these guidelines.

Ensure that there are safe ways to report abuses

Kvant Suppliers is committed to fostering an inclusive and supportive work environment that encourages employees to voice their concerns without hesitation. We prioritize the establishment of effective reporting channels and feedback mechanisms, ensuring confidentiality and protection for both employees and suppliers. We strictly prohibit any form of retaliation, discrimination, or mistreatment towards individuals who report suspected violations in good faith. Our aim is to create a culture where everyone feels safe and empowered to speak up.

Always strive for improvement

Kvant Suppliers are required to regularly assess their adherence to the standards outlined in this Code of Conduct and engage in transparent dialogues with Kvant to ensure ongoing enhancement and prompt rectification of any shortcomings.

Maintain proper documentation and records

Kvant Suppliers must guarantee that they and their suppliers possess sufficient procedures for generating and upkeeping documents and records. These measures are intended to ensure adherence to regulatory requirements and conformity to documentation standards, while also maintaining the necessary level of confidentiality to safeguard privacy.

Flow-Through to sub-suppliers and business partners

It is crucial to uphold the Supplier Code of Conduct by ensuring that Suppliers only engage in business with others who adhere to the same ethical and compliance standards expected by Kvant. Each Kvant Supplier must have a program in place to conduct due diligence, monitor, and control their own business partners to ensure they meet the expectations outlined in the Supplier Code of Conduct. Kvant Suppliers are strictly prohibited from participating in any activities that violate the Supplier Code of Conduct. They must take appropriate corrective action, including termination if necessary, against subcontractors or suppliers who engage in prohibited activities on their behalf. Kvant Suppliers are also prohibited from involving sub-suppliers in any activities that would violate the Supplier Code of Conduct or applicable laws if performed by Kvant Suppliers or their staff.

Responsibilities

All Kvant Suppliers are required to adhere to the Supplier Code of Conduct. They must also keep all necessary documentation to prove their compliance with the Code and grant Kvant access to such documentation when requested.  To ensure compliance with the Supplier Code of Conduct, Kvant may ask Suppliers to complete self-assessments, reveal relevant policies, participate in ESG assessments, or undergo audits of their facilities, records, and operations.  Kvant Suppliers must provide staff and documentation for audits upon request by Kvant or its representatives. They should also promptly supply any information needed for Kvant or its customers to follow all laws and regulations.  Kvant Suppliers are expected to collaborate with Kvant in investigations concerning potential violations of laws, regulations, policies, contracts, or the Supplier Code of Conduct.

Violations of this Code of Conduct

Non-compliance with the Supplier Code of Conduct may lead to necessary measures being taken. The appropriate course of action will be determined based on the severity and nature of the violation, as well as the surrounding circumstances. In addition, failure to adhere to this Code, along with any supplementary obligations imposed by Kvant, or any relevant laws and regulations, may result in the termination of the supplier agreement with Kvant and the matter being reported to local authorities.

Who to Contact About This Supplier Code of Conduct?

If you require any clarifications or have inquiries about the Supplier Code of Conduct, kindly reach out to the Sustainable Sourcing program team at Kvant. You can contact them via email at sustainable.sourcing@kvant.bg It is crucial for Kvant Suppliers to promptly inform Kvant if they become aware of any instances of (1) inappropriate or unlawful conduct by Kvant employees or representatives, or (2) inappropriate or unlawful conduct by the Supplier, any sub-supplier, or any other party involved in providing goods or services to Kvant, which may include violations of this Supplier Code of Conduct.

Changes and Interpretation

Kvant maintains the authority to modify, amend, or revoke this Supplier Code of Conduct and related regulations as necessary or appropriate, without advance notice. The ultimate determination on any matter concerning the interpretation of the Supplier Code of Conduct lies with Kvant’s management.