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Notice regarding malpractice with respect to Economic Development Cooperation Fund (EDCF) projects
  • According to the relevant regulation of EDCF, EDCF shall take the following actions to suppliers, consultants, bidders or other persons concerned (hereinafter referred to as the "Entities") who engage in corruption, fraud, defective design and/or construction with regard to an EDCF Project.
    • Declaration of their ineligibility to participate in EDCF-financed activities
    • Disclosure of their ineligibility on the official website of EDCF and notification of the ineligibility to the government of the borrower's country
  • The Entities who engaged in any activity falling under one of the following shall be debarred for not more than 3 years from participating in EDCF-financed activities:
    • Where the Entities forge or falsify a series of procurement documents concerning tender or contract,
    • Where the Entities act in a poor, coarse, or unfair manner in the course of performing a contract and the defect is deemed to be severe,
    • Where the Entities subcontract in violation of the restrictions on contracts or without the approval of the project executing agency, or do not make or delay the payment to the subcontractors without any justifiable reasons,
    • Where the Entities have inflicted harm on the general public because they were negligent in taking safety measures in the performance of a contract, or who have inflicted serious harm, such as death, on workers because they were negligent in taking safety and health measures,
    • Where the Entities do not comply with the Act on Combating Bribery of Foreign Public Officials in International Business Transactions or the Criminal Law to the relevant persons in recipient country and EDCF regarding the project financed by EDCF,
    • Where the Entities agree on the tender price, order amount, contract contents, etc. with tenderers or counterparties to the contract in advance or colludes for tender acceptance of a specific person or selection of the subject of delivery of goods in the procedure of a competitive tender, or signing or performing a contract,
    • Where the Entities engage in other malpractices prescribed in the relevant rules by EDCF.