Ethical Policy

Ethical Policy Rev 1

Process owner: Lindsey Muir (CEO) 11 May 2022

Policy Statement

In all the operations of URATHON. (“The Company”) it is important to retain a set of core values and approaches to the process of doing business.

The reputation of The Company and the trust and confidence of those with whom it deals are among its most vital resources, and the protection of these is of fundamental importance.

The Company demands high ethical standards in carrying out its business activities. Corrupt practices are not tolerated.

The Company recognises its obligations to all those with whom it has dealings.

Social Accountability

Health & Safety – the Company will provide a safe and healthy working environment and will take steps to prevent accidents and injury to employees’ health by minimising, so far as is reasonably practicable, and in cooperation with employees, the causes of workplace hazards. All employees will receive appropriate safety and job specific induction and training. Employees have access to clean sanitary facilities and drinking water. Responsibility for implementing the Health & Safety Policy is assigned to the Company’s Managing Director.

The Company has identified the following compelling reasons to establish a comprehensive system of ‘Minimum labour standards’ to guide it in its business operations, and will comply with all applicable UK and international labour legislation in respect of:-

Child labour – the Company does not engage in or support the use of child labour. If the Company engages with young workers (e.g.: on work experience), it will ensure that a suitable risk assessment is conducted and that young persons are not exposed to any hazardous conditions.

Forced or compulsory labour – the Company does not engage in or support the use of forced or compulsory labour. Employees are free to leave upon reasonable notice as defined in their contract of employment.

Discrimination – the Company will not engage in or support any discriminatory practices. The Company has a staff handbook, and this is explained to all new employees at induction

Disciplinary practices – the Company will treat all employees with dignity and respect and in line with our Disciplinary Policy.

Working hours – the Company will comply with applicable UK industry standards and regulations on working hours and holiday entitlements. The Company checks and ensures that all employees have the legal right to be employed in the UK.

  • Remuneration – the Company shall comply with national regulations and laws regarding wages and benefits. All work-related activities are carried out based on a recognised employment relationship established according to national law and practice. Wages and benefits paid for a standard working week meet and exceed national minimum standards. The Company will provide all employees with written and understandable information about their employment conditions in respect of wages before they enter employment, details of payments will be provided in an itemised payslip each month. Deductions from wages as a disciplinary measure shall not be permitted.
  • Ensure that our suppliers reply to Supplier Evaluation requests within one month of the request submission
  • Ensure we and relevant suppliers are in compliance with all relevant International Labour Organisation labour conventions, the Ethical Trading Initiative ETI Base code and local labour laws
  • Have zero non-conformances on ethical compliance each year
  • Ensure that NATLEX database of national labour, social security and related human rights legislation is assessed quarterly to identify any applicable changes

Relations with Suppliers

 Develop relationships with its suppliers based on mutual trust.

  • The Company will reissue the following policies to affected suppliers every time that they are updated: a) Safety, Health, Environmental and Quality policy.
  • Ethical policy.
  • Whistleblowing policy
  • Anti-slavery and human trafficking policy
  • The Company will monitor social accountability and ethical legislation using the International Labour Organisation ‘Natlex’ database website on a quarterly basis to ensure compliance with local laws in all countries from which products are sourced.
  • The Company undertakes to pay its suppliers according to agreed terms of trade.
  • Any offer of gifts or favours of unusual or questionable purpose should be reported immediately to the employee’s superior and a Company Director.

The receipt of gifts or favours by employees can give rise to embarrassing situations and may be seen as an improper inducement to grant some concession in return to the donor. The following principles should be observed:

  • Gifts or favours must not be solicited.
  • Gifts of money must never be accepted.
  • Reasonable small tokens and hospitality may be accepted provided they do not place the recipient under any obligation, are not capable of being misconstrued and can be reciprocated at the same level, and the employee’s immediate superior is made aware of the same.
  • Any gifts over the value of £50 must be reported to a director.

Relations with Customers

The Company believes that integrity in dealings with customers is a prerequisite for a successful and sustained business relationship. This principle governs all aspects of the Company’s approach to its customers.

  • No employee may give money or any gift of significant value to a customer. Nor may any gift or service be given which could be construed as being intended as a bribe.
  • In all advertising and other public communications, misrepresentation, untruths, concealment and overstatement will be avoided.
  • The Company will maintain high levels of confidentiality in all dealings with customers.

Relations with Competitors

The Company believes service excellence to be the best way of enhancing its reputation. Whilst fair comparison between strength of the Company and competitors’ weaknesses may be made, the Company will not engage in damaging competitors’ reputations either directly or by implication and

  • The Company will compete vigorously, but honestly.
  • In any contacts with competitors, employees will avoid discussing proprietary or confidential information.

International Business

The Company will respect the traditions and cultures of each country in which it operates.

The Company commits itself to obey the laws of countries and communities where it conducts business.

Where business practices differ in countries in which the Company operates, it will favour consistent procedures among subsidiaries and associates to achieve the highest common standard.