Impact of OECD Convention anti‐bribery provisions on international companies

The Organization for Economic Cooperation and Development Convention on Combating Bribery of Foreign Public Officials in International Business Transactions went into effect in 1999. The convention is important since its signatories account for most of the world’s exports and foreign investment. Thus bribery is no longer an acceptable standard for international competition. Companies engaged in international business must understand the provisions of the Convention and take affirmative steps for compliance. Otherwise the firm and its employees risk criminal prosecution in their home country. This article discusses the issues global businesses must consider for planning under the OECD Convention.