1. PURPOSE & SCOPE
This Policy of IAMEX S.A. refers to the Fair Competition and Exchange of Information that applies to all activities and transactions for all the Company's staff and partners.
2. AUTHORITIES
2.1. General Manager 2.2. YSDD
3. DESCRIPTION
At IAMEX SA we take care to ensure that we fully comply with the legislation on the protection of free competition, as well as all the relevant provisions of the law.
The law on the protection of free competition contains two main prohibitions: - the prohibition of collusion between two or more undertakings, as well as - the prohibition on the abuse of a dominant position (which can be applied both to unilateral conduct and through agreements where one firm holds a dominant role).
Violation of national competition laws can result in fines, civil liability for damages, and even criminal liability. It is the responsibility of IAMEX SA and each of its employees separately to comply with these guidelines.
The following instructions apply to IAMEX SA, each Business Sector, individual members and each department of IAMEX SA, whether large or small.
4. PROHIBITION OF HARMONIZED PRACTICE
In general, no IAMEX employee should discuss or engage in any of the following activities that would violate the prohibition on concerted practice regarding:
■determining market prices, including the application of price caps, discounts or any other pricing element, including price discussions without necessarily setting prices
■market segmentation, such as dividing customers into groups, or geographical areas between competitors, or even false offers
■agreements relating to investment or the limitation or control of production
■sharing commercially sensitive information, for example, about business plans, customer relationships or ongoing or planned promotions
■joint negotiations, joint selling or (except after legal review) joint procurement
■any other agreement that restricts competition, such as, for example, collective refusal to sell, any arrangement to avoid direct competition or joint action to foreclose competitors or new entrants.
Competition law does not only apply to written or binding agreements. An oral exchange of information or an informal agreement may constitute a breach even if it is merely a "gentlemen's agreement".
5. EXCHANGE OF INFORMATION
IAMEX employees must never exchange sensitive competitive information about their own trading strategy or that of their competitors, or anything that could be considered a business secret. We must be careful to engage in discussions with colleagues who are or may become competitors in the future, both in formal gatherings and in any informal meeting, even in a social setting.
Issues to avoid are:
• Prices and discounts or contractual terms related to price (excluding officially mandated prices or hospital policies) • Customer relations, current offers or plans for offers • Business plans or commercial strategies • Competitive strengths/weaknesses in specific areas • Product development or investments in research programs that have not yet become widely known• Information on specific market shares.
Benchmarking is permitted as long as the entity that collects and processes the data is bound by confidentiality and the data is not and cannot be linked to specific competitors. Market research is permitted, provided that the results are presented in statistical form, excluding information on individual prices, and that sensitive competitive information, such as market share and sales volume, remains anonymous.
It is acceptable to discuss matters of government policy, educational and scientific developments, or matters of general interest (including prices imposed through Ministerial Decisions), demographic trends, generally accepted market trends, publicly available information and historical information that does not affect the future of the market.
6. PROHIBITION OF EXPLOITATION OF A DOMINANT POSITION
IAMEX adopts, incorporates and fully complies with the following rules regarding the prohibition of abuse of a dominant position.
Companies that can afford to act independently and set prices beyond customer or supplier demands or competitive pressure have a special duty not to restrict competition and not exploit their customers.
Dominance is essentially the ability to overcharge, which is taken for granted if a firm represents a dominant share of supply or demand (typically 40% or more). In the medical technology sector, companies have been found to hold a dominant position in small markets and members should be aware of the products or services of those in which they may be found to hold a dominant position.
Even though individual members of a trade association may not hold a dominant position, they may be considered collectively to hold a dominant position in a market for a particular product if four or fewer firms represent a large share (around 80%) of the market and have contacts between them. In such an oligopolistic market, parallel conduct that restricts competition or exploits customers may be considered abusive, even if there is no evidence of collusion.
When the conduct of a dominant undertaking has an anti-competitive object or effect, without objective justification, this can lead to fines and civil liability.
Examples of possible abuse of a dominant position are:
• the imposition of excessive conditions or discrimination on customers or suppliers, • the offer at prices below cost, with the aim of excluding competitors from the market, • the limitation of production or technological development, • the refusal to sell to parallel importers, • refusing to sell to competitors or customers with products they need and cannot buy elsewhere, or • supplying a product to a customer whose sale is linked to the purchase of another product or service they do not want (bound sales).
7. RECORDS
Records of the above forms are kept by YSDD for 5 years.
External Documents: 1. SEIB Competition Law Guidelines
8. HISTORY OF THE DOCUMENT
Ed. Date Description of Change Version From1 15/07/2024 Initial Version YSDD