Tuesday, December 26, 2017

Consulting fee for big contracts

Recently, Keppel Offshore & Marine agreed to pay a penaly of US422.2 million to settle a charge that it offered bribes to the officers of the awarding company to secure several large projects.

In some countries, it is necessary to make these payments to ensure that the company will be awarded the contracts, but the payments were made indirectly as consulting fees to an intermediary.

Was KOM adopting a bad corrupt practice when such a practice appears to be prevalent and necessar to secure the contract?

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