Business Partner Code of Conduct

This Business Partner Code of Conduct presents basic principles for business partners in their dealings with Hydraulics Online Ltd. We consider these principles in business partner selection and ask that our business partners apply these or similar principles to the partners with whom they work in providing goods and services to Hydraulics Online Ltd. Note that:

• business partners include customers, suppliers, third-parties and organisations that provide services, raw materials, components, finished goods or other products to Hydraulics Online Ltd;
• these principles are not intended to replace, supersede or conflict with any applicable legal or regulatory requirement or contractual obligation with Hydraulics Online Ltd;
• it is up to each business partner to determine how to meet and demonstrate compliance with the principles and standards, as stated in this Business Partner Code of Conduct.

Our  KYC policy and supporting procedures are a key component to prevent and detect money laundering, terrorist financing, modern slavery, fraud and identity theft. KYC is an ongoing, risk-based process to gather relevant customer information in order to:

• ensure that we know who we are dealing with;
• determine appropriate products and services to meet our customers’ needs;
• enable the timely identification of customer activity that is inconsistent with established facts and information;
• meet our legal obligations and ability to comply with trade sanctions and embargoes.

When establishing a relationship with a customer we will confirm the identity of a person or the existence of an entity within acceptable timeframes using acceptable identification methods. Where required, particulars of any third party and their relationship with the customer will be obtained prior to establishing the relationship. The extent of such measures will be determined on a risk-sensitive basis depending on the type of customer, location and products/services requested.

We will refuse to enter into, or continue, relationships or conduct transactions with any person or entity that insists on anonymity, or provides false, inconsistent or conflicting information where the inconsistency or conflict cannot be resolved after reasonable enquiry.

Business partners shall pay workers according to applicable wage laws, including minimum wages, overtime hours and mandated benefits and communicate with the worker the basis on which they are being compensated in a timely manner. Business partners are also expected to communicate with the worker whether overtime is required and the wages to be paid for such overtime.

Open communication and direct engagement with workers (and/or designated union officials, if applicable) to resolve workplace and compensation issues is encouraged. Business partners shall respect the rights of workers, as set forth in local laws, to associate freely, join or not join labour unions, seek representation and join workers’ councils. Workers shall be able to communicate openly with management regarding working conditions without threat of reprisal, intimidation or harassment.

Business partners shall respect individuals in a manner consistent with the rights to privacy and data protection. They shall at all times use information about people appropriately for necessary business purposes and protect it from misuse in order to prevent harm to individuals such as: discrimination, stigmatisation or other damage to reputation and personal dignity, impact on physical integrity, fraud, financial loss or identity theft.

Business partners shall not use forced, bonded or indentured labour or involuntary prison labour.

Business partners shall support and respect the protection of internationally proclaimed human rights and ensure that they are not complicit in human rights abuses.

Business partners shall not use child labour. The employment of young workers below the age of 18 shall only occur in non‑hazardous work and when young workers are above a country’s legal age for employment or the age established for completing compulsory education.

Business partners shall conduct their business in an ethical manner and act with integrity.

All corruption, extortion and embezzlement are prohibited. Business partners shall not offer, pay or accept bribes or participate in other illegal inducements in business or government relationships. Business partners shall work against corruption in all its forms.

Business partners shall protect confidential information, including personal information collected for or from Hydraulics Online Ltd, and act to prevent its loss, misuse, theft, fraud, improper access, disclosure or alteration; including unauthorized communication and/or publication of information acquired from or on behalf of Hydraulics Online Ltd.

Intellectual property rights shall be respected; transfer of technology and know‑how shall be done in a manner that protects intellectual property rights.