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Code of Conduct for Thermax Group's Supply Chain Partners

Philosophy:
At the center of Thermax Group's Corporate Philosophy are the Core Values that Thermax nurtures - Honesty & Integrity, Commitment, Respect and Concern for the Environment and Community. Thermax is committed to carrying out its business in ethical and sustainable manner and expects all its supply chain partners to follow minimum standards of Honesty & Integrity, Commitment, Respect and Concern for the Environment and Community.
 
Purpose of this document:
The Purpose of this document is to define the minimum standards that all of Thermax's supply chain partners are required to follow. The supply chain partners (hereinafter collectively called Vendors) include, but are not limited to:
 
1. Vendors, Suppliers
2. Sub-contractors,
3. Labour Contractors,
4. Site Contractors
5. Engineering sub-contractors
 
Each vendor is required to act responsibly and with integrity and honesty, and to comply with this code and its underlying principles, policies and instructions. By signing on a copy of this Code of Conduct, the respective Vendor commits itself to total compliance with this Code of Conduct in letter & spirit
 
Compliance with applicable laws/regulations/government orders
All business and other activities of Thermax shall be carried out strictly in compliance with all applicable laws/regulations/government orders and under the principles of good corporate citizenship in each country where Thermax is present. It is mandatory for each vendor to comply with the requirements of all those laws and regulations that apply to the Vendor's workmen, staff, premises, business practices and to its relationship with Thermax.
 
Respect for human and labour rights
Thermax supports and respects the protection of human rights & labour rights as defined in the relevant laws of the country in which it is operating. Every vendor is required to abide by all Laws, rules, regulations & principles as applicable to its country of operation concerning Human & Labour rights. Thermax does not accept any form of forced or compulsory labour, or the use of child labour. All vendors are required to follow these principles in their business.
 
Occupational health and safety
Thermax endeavors to create hazard-free workplaces in all its locations for its employees, vendors, contractors, and others working in Thermax locations by applying high standards of occupational health and safety. Thermax strives to assure the safety of its products and solutions through its product and solution development processes. Each vendor is responsible for complying with the safety instructions, for using personal protection equipment when required, and for reporting on any shortcomings regarding safety instructions or protection measures while they are in Thermax premises or Thermax controlled sites. Thermax also encourages all its vendors to follow sound Occupational health and safety in their own premises.
 
Bribery & corrupt business practices
The Vendor will not, directly or through any other person or firm, offer, promise or give to any of Thermax Group's employees or to any third person any material or other benefit which he/she is not legally entitled to, in order to obtain in exchange any advantage of any kind whatsoever during the dealings with Thermax. The Vendor will not enter into any undisclosed agreement or understanding, whether formal or informal regarding prices, specifications, certifications, any other matter that restricts healthy competitive environment or introduces cartelization when dealing with Thermax. The Vendor will not commit any offence under the relevant Laws as applicable to the particular location; further the Vendor will not use improperly, for purposes of competition or personal gain, or pass on to others, any information or document provided by Thermax as part of the business relationship, regarding plans, technical proposals and business details, including information contained or transmitted electronically.
 
Conflict of Interest
In case of any close relative (blood relatives, inlaws, cousins etc.) of any key officials of the Vendor working in Thermax, the Vendor is required to promptly disclose the same to Vice – President - Corporate Sourcing Group who shall make sure that the concerned close relative is not directly involved in any dealings with that vendor.
 
Innovation and protection of proprietary information
Thermax supports and encourages innovation by its vendors in all areas of its activities. Thermax's intellectual property is one of its most valuable assets and the patents, trademarks, copyrights, trade secrets, and other proprietary information of Thermax must be protected. Each Vendor is required to keep confidential all information and data that is disclosed to it by Thermax. The Vendor is required to sign a separate Non-Disclosure Agreement to secure the information disclosed by Thermax to the vendor.

Implementation
It is mandatory for every Vendor who is dealing with Thermax to sign its acceptance of this Code of Conduct. No vendor may continue its business with Thermax without accepting this Code of Conduct without any reservation/deviation.
 
Consequences of any violation
Violation of this code may lead to any or all of the following actions,
1. Written Warning
2. Recovery of the losses/damages
3. Termination of contract & blacklisting

Queries and Clarifications
Kindly address your queries to 
email: nmutalik@thermaxindia.com
Phone: +91 (20) 6612 2295