We compete fairly.
Building the right relationships with our customers is a foundation of our business that has lasted nearly two centuries. It is our duty to conduct business fairly and honestly, so that we can build open and long-lasting relationships leading us into the next century.
We negotiate and secure sales and contracts in alignment with our ethical standards – lawfully and honorably – both domestically and abroad.
The United States, the European Union and many other countries have laws that prohibit anti-competitive behavior, including agreements with competitors and certain other market participants to fix prices, unjustifiably charging competing customers different prices for the same products or reaching agreements with competitors to divide customers or markets. We stand in alignment with these laws.
It can be challenging to determine what constitutes an anti-competitive practice. If you’re not sure, ask your local or regional manager or seek advice from the Legal Department.
We remain free from bias or conflict of interest.
A conflict of interest occurs when our personal interest competes, interferes or even appears to interfere with the best interest of the company.
When working on behalf of Stanley Black & Decker, we must always act ethically and in the best interest of our colleagues and the company. We cannot allow personal interests to cloud our judgment.
What are some examples of a possible conflict of interest?
- Conducting business with vendors that are close personal friends
- Hiring or supervising a family member or a close personal friend
- Having a significant personal investment in a company that you work with in your capacity at Stanley Black & Decker
- Having outside work that competes with Stanley Black & Decker
- Having a significant investment in a company that competes with Stanley Black & Decker
- Having an investment where you or a family member would benefit if the company stock price were to fall (short selling)
We abstain from corrupt practices and never pay bribes.
In addition to being inconsistent with our ethical standards, bribery is against the law in every country – and can result in criminal prosecution of those involved, as well as negative consequences for the company. Directly or indirectly giving something of value to gain or retain a business advantage is considered bribery.
We compete fairly for our business opportunities. We do not offer or approve anything of value in order to gain an unlawful advantage. We do not give or offer gifts, travel or entertainment to gain a business advantage. And gifts of cash or cash equivalents are never acceptable.
Sometimes, we may use third parties to help us achieve our goals: dealers, agents, freight forwarders, consultants or independent contractors. When third parties act on our behalf, we expect them to reflect our ethical standards. We may never use third parties to pay bribes or engage in corrupt behavior on our behalf. Authorized employees who are responsible for approving or managing a third party to act on our behalf must follow the company’s Third Party Due Diligence Policy.
“Our sales and business practices must meet the highest tests of scrutiny. Business won in ways that conflict with our core values has no place at Stanley Black & Decker.”
John Wyatt, President, STANLEY Engineered Fastening
To maintain our trusted reputation and to protect our brand, each of us is expected to report anything that seems suspicious.
We also expect our business partners to share our principles. We will not engage a third party to act on our behalf if that party has a reputation of engaging in corrupt practices.
For additional details, please see our Third Party Due Diligence Policy and our Anti-Bribery & Anti-Corruption Policy or consult with the Legal Department.
We make sound judgments when giving or receiving gifts.
Gifts and entertainment can foster positive working relationships between our company and our customers, vendors and suppliers. But an excessive or inappropriate gift can pressure the recipient to reciprocate by making decisions that benefit the giver, creating a conflict of interest or possibly violating commercial bribery laws.
“Giving and receiving corporate gifts has an important role in enabling business relationships and practice, but it can also be confusing – especially when it comes to cultural sensitivities. Always proceed with care and consult with your manager if you’re unsure.”
Jocelyn Belisle, Vice President & Chief Accounting Officer, Stanley Black & Decker
The risk associated with gifts increases when dealing with government employees. Laws vary around the world, and we must be vigilant to ensure we are in compliance with them. Before giving a gift to a government official, confirm with your Business Unit Controller or the Legal Department that the gift is appropriate, ethical and in compliance with the law.
As a global company, we must also be aware of cultural differences and different practices regarding gift giving, as traditions, customs and norms may vary significantly among various cultures.
If you have concerns about gifts or entertainment, speak with your manager or the Legal Department before accepting or giving a gift.
For additional details, please see our Gifts and Entertainment Policy.
We do not abuse drugs or alcohol.
Drugs and alcohol can affect our judgment and impede our ethical decision making. Moreover, they represent a safety risk. We abide by applicable laws and regulations regarding the possession or use of alcohol, drugs and other controlled substances. We do not tolerate the abuse of legal or illegal drugs or alcohol anywhere, including on company property or at any company event.