12 DSV Code of Conduct CONFLICTS OF INTEREST A conflict of interest occurs when a person is confronted with choosing between or prioritising their professional obligations and their own personal interests. You must always conduct business in DSV’s best interest. It is the responsibility of all employees to exercise sound judgement regarding conflicts of interest and to seek advice from their immediate manager when in doubt. SUPPLIERS, CUSTOMERS AND OTHER BUSINESS PARTNERS You must not participate in any commercial transactions between a DSV company and a supplier, customer or other business partner in which you have direct or indirect interests, financial, private or otherwise, unless the transaction is made on an arm’s length basis (on market conditions). If you do have direct or indirect interests in a commercial transaction, then the transaction must be approved in advance by the Board of Directors of the relevant DSV company. This rule is subject to an annual triviality limit of EUR 5,000 below which transactions – presumed to be on arm’s length basis – need not be disclosed or approved. This also applies to transactions where the other party, whether an individual or a corporation, is related parties to country management members. Related parties include, but are not limited to: • Family members and their companies • Own companies • Other companies in which the relevant member of management has significant influence Transactions where the connection is with country management members must be approved in advance by DSV Group Management. This rule is subject to an annual triviality limit of EUR 5,000 below which transactions – presumed to be on arm’s length basis – need not be disclosed or approved. In such cases, the Board of Directors of the relevant national DSV company or Group Management must be informed about significant conditions, such as quantity/ volume, price, and terms of payment. EMPLOYMENT OF RELATED PARTIES There must be no direct or indirect reporting relationship between related parties employed by DSV. This refers to all stages of employment, from the time of appointment and if a relationship develops after joining DSV. A direct reporting relationship is the reporting relationship between an employee and their immediate manager. An indirect reporting relationship is the reporting relationship between two employees in the same reporting line, but with other managers between them. Appointing or keeping related parties in the same team or department should always be carefully considered, even if there is no direct or indirect reporting relationship. Appointments and all other aspects of the employment must always be based on qualifications, performance, skills and experience.
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