Donation or Sponsorship Application

Conflict of interest management and prevention of corruption

The act of corruption means the abuse of position for private purposes, which includes promising, offering, giving, requesting, receiving or expecting a financial or non-financial benefit for oneself or for another, or any violation of a prescribed obligation or failure to take a due action, with the aim of obtaining a direct or indirect benefit for oneself or for another.

If one of the contracting parties promises, offers or provides an inappropriate benefit to an employee, representative or member of the management body of the other contracting party, for the purpose of concluding a contract, concluding a contract under more favourable terms, omitting adequate supervision over the fulfilment of contractual obligations, taking or failing to take any action that causes damage to Universal Capital Bank (hereinafter: UCB) or provides an unjustified benefit to UCB, an authorised person or an employee of UCB, UCB reserves the right to unilaterally terminate the Sponsorship or Donation Agreement.
The Beneficiary undertakes and guarantees that, prior to concluding the agreement, it will inform UCB of all circumstances that may constitute a conflict of interest and that, in agreement with UCB, it will take all necessary measures to manage a potential conflict of interest.
The Beneficiary declares and guarantees that there is no actual or potential conflict of interest that could in any way influence or limit objectivity when making decisions on the allocation of funds by UCB (e.g. ties with persons employed by UCB).The Beneficiary also declares and guarantees that it will disclose to UCB all circumstances that may indicate the existence of a conflict of interest between its interests, the interests of persons related to it and the interests of UCB.
In the event that such a situation occurs and was not known to the contracting parties at the time of execution of the Agreement, or if it occurs after the execution of the Agreement, or if it is discovered only after the application has been submitted, the Beneficiary of the funds undertakes to immediately cease all activities that constitute a conflict of interest, or, in agreement with UCB, to take appropriate measures to prevent or manage it.
In such a case, the Beneficiary undertakes to notify UCB in writing of the existence of a conflict of interest without delay, and no later than within three working days of the occurrence of the circumstances. At UCB's request, the beneficiary is obliged to submit all necessary documentation relating to the said situation within three working days of receipt of the request.