Bribery in international business

OECD Anti-Bribery Convention: Entry into Force of the Convention

 

The Convention on Combating Bribery of Foreign Public Officials in International Business Transactions entered into force on 15 February 1999.

The Convention, signed on 17 December 1997, includes today 43 countries. All countries party to the Convention commit themselves to ensuring that their national parliaments approve the Convention and pass legislation necessary for its ratification and implementation into national law.

The Convention permits countries to move in a co-ordinated manner to adopt national legislation making it a crime to bribe foreign public officials. It provides a broad definition of bribery, requiring countries to impose dissuasive sanctions and committing them to providing mutual legal assistance. Under OECD auspices, a rigorous process of multilateral surveillance began in April 1999 to monitor compliance with the Convention and assess the steps taken by countries to implement it in national law.

 

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