Code of conduct
The TVH Parts Holding NV enjoys a solid reputation around the world, based on integrity, responsible conduct, teamwork, excellence and commitment.
That reputation, built over time and rebuilt every day, is what sets the TVH Parts Holding NV apart with its customers, business partners, employees and stakeholders. All TVH representatives share the responsibility to protect
and safeguard it.
This Code of Conduct is vitally important. It defines and documents what TVH Parts Holding NV believes in and contains the global standards that each TVH representative must follow.
Thank you for taking time to read and understand the Code and refer to it frequently. Together, we are responsible for sustaining the TVH Parts Holding NV’s reputation and for doing what is right.
On behalf of the family:
Paul Thermote - Pascal Vanhalst - Bernard Demeester - Ann Thermote - Els Thermote
On behalf of the other members of the board:
1. General principles
The TVH Parts Holding NV shall comply with the laws and regulations of each country in which it operates, whilst respecting, to the extent possible, local cultural traditions and social customs. Being a worldwide player,
the TVH Parts Holding NV is committed to thinking globally, acting locally.
In selecting its business partners, the TVH Parts Holding NV prefers to work with partners who demonstrate strong values and commit to the principles expressed in this Code of Conduct.
2. Accurate records and reports
Financial transactions shall be reported in accordance with generally accepted accounting practices. Records and reports shall reflect in a correct and non-misleading manner the business transactions and assets.
3. Protection of confidential and proprietary information
TVH Parts Holding NV’s representatives may be exposed to confidential and proprietary information. This information includes intellectual property, business and financial information, business forecasts and plans, acquisition strategies and other information that might benefit competitors or harm the TVH Parts Holding NV if disclosed.
Disclosing confidential information to any person or organization, directly or indirectly, without prior consent from TVH Parts Holding NV is prohibited, as is using confidential information for purposes not directly related to TVH Parts Holding NV’s business or operations.
When speaking about the TVH Parts Holding NV in a social media outlet or other public forum, each TVH Parts Holding NV’s representative should be careful to only share publicly available information and use discretion and common
sense, consistent with the core values, Code and other company policies.
4. Company property, assets and resources
The TVH Parts Holding NV’s property, assets and resources shall be used for business objectives.
Access to and use of company technology including the Internet, networks, computers and e-mails is expected to be managed in a responsible and professional manner consistent with the Code and other
5. Gifts and other payments
Representatives of the TVH Parts Holding NV shall not offer customers, potential customers, suppliers, consultants, governments or any representative of such entities, any gifts or favors greater than nominal value in violation of applicable laws in order to obtain or retain business or to gain any other improper advantage.
TVH Parts Holding NV employees shall not accept payments or any gifts greater than nominal value from individuals that could affect their objectivity in their business decisions.
Gifts or favors not greater than nominal value are those gifts or favors with a value that is insignificant or small; anything that when given is or can be perceived as highly unlikely to affect one’s judgment or decisions.
6. Anti-corruption and money laundering
The TVH Parts Holding NV shall:
- respect applicable anti-corruption and anti-bribery laws;
- not participate in or endorse any corrupt practices;
- not accept, facilitate or support money laundering.
The TVH Parts Holding NV is committed to following applicable international trade laws including import and export controls regulations and compliance with sanctions and anti-boycott laws.
8. Fair competition practices
The TVH Parts Holding NV promotes fair competition and shall observe antitrust and competition laws where it conducts business.
9. Conflicts of interest
All representatives of the TVH Parts Holding NV shall conduct their external activities and financial interests in a manner that does not conflict with the interests of the TVH Parts Holding NV.
10. Customer satisfaction
The TVH Parts Holding NV is dedicated to quality and takes personal pride in all the products and services it provides. All TVH Parts Holding NV representatives shall act diligently to deliver as quickly as possible the highest possible value in the company’s products and services.
11. Human rights
The TVH Parts Holding NV aims for increased awareness of human rights issues throughout the organization worldwide.
Use of child or forced labor in any of TVH Parts Holding NV’s operations is not tolerated and TVH Parts Holding NV will strive to influence its partners and suppliers to act similarly.
12. Non-discrimination and non-harassment
The TVH Parts Holding NV is committed to providing a positive work environment that is free from all forms of illegal and improper discrimination and harassment. All employees shall have equal opportunities based on competences, experience and performance.
13. Safe workplace practices, health and well-being
The necessary conditions for a safe work environment shall be provided for all TVH Parts Holding NV employees.
The TVH Parts Holding NV is also committed to promoting resources and programs that support the good health and well-being of its employees.
14. Freedom of association
The TVH Parts Holding NV shall respect the recognized unions, the freedom of association and the right to collective bargaining for employees working in its operations and in accordance with the law or practice of the countries in which it operates.
15. Environmental impact and social responsibility
The TVH Parts Holding NV is committed to improving the quality and efficiency of its operations while reducing its environmental impact. When suitable alternatives are available, the TVH Parts Holding NV shall avoid materials and methods imposing environmental and health risks.
On a regular basis, the TVH Parts Holding NV is supporting several charitable organizations and initiatives that benefit society.
16. Responsability for compliance
All TVH Parts Holding NV employees, officers and directors are required to understand and follow the principles set forth in this Code of Conduct. The Family and management of the TVH Parts Holding NV shall inform the employees of their rights and responsibilities, shall set the example and act as role models.
17. Report on violation and retaliation
If an employee within the TVH Parts Holding NV is aware of or suspects a violation of the law or this Code, he or she is encouraged to report the issue to his or her direct superiors. If the direct superior is unable to help or if an employee is uncomfortable discussing the concern with his or her superior, the employee may raise the matter with Joachim Thieren. (Conduct Compliance Manager • T +32 56 43 64 03 • email@example.com)
The TVH Parts Holding NV will not tolerate retaliation against individuals who make a good faith report of a known or suspected violation of the law or this Code. In addition, retaliation against anyone who participates in
investigations in good faith will also be prohibited.
18. Code violations
Subject to local law, violations of this Code may carry serious consequences, including corrective actions up to and including termination of employment, supplier or customer relationships.
19. Deviations and periodic reviews
Only the Board of Directors may approve deviations from this Code. The Code will be reviewed by the Board of Directors periodically.