PURPOSE AND SCOPE
Ethics, in its simplest sense, examines value judgments that are universally valid and accepted in human relations.
Etymologically, ethics means distinguishing between right and wrong, just and unjust, good and bad, fair and unfair, and acting upon what we believe to be right, just, good, and fair. Business ethics, on the other hand, encompasses the set of principles developed to guide conduct in the business world.
The ERACO Ethical Rules have been established to communicate our company’s expectations, ethical understanding, standards, and practices that form the basis of all our business relationships and transactions.
The ERACO Ethical Rules apply to our company, all our employees, and third parties acting on behalf of our company.
All employees are obliged to comply with the “ERACO Ethical Rules.”
Furthermore, all stakeholders are expected to comply with business ethics rules and all principles that support these rules. It is the joint responsibility of all managers and employees to ensure that the ERACO Ethical Rules are communicated to all employees, that employees attach due importance to these rules, and that necessary effort and leadership are demonstrated to ensure compliance.
OUR RESPONSIBILITIES
At ERACO, we act with a sense of responsibility in all our activities. In addition to our legal responsibilities, we take care to fulfill our obligations towards our employees, customers, shareholders, suppliers and business partners, competitors, society, humanity, and the environment.
Responsibilities Towards Employees
Our fundamental principles and responsibilities in relations with employees are:
Making recruitment decisions based on merit, ensuring equal opportunity without discrimination,
Attracting qualified employees who will carry our company into the future,
Making the most of employees’ talents, strengths, and innovation skills,
Providing opportunities and equality for training, guidance, and development,
Rewarding success through fair and competitive compensation policies and an effective, objective performance evaluation system,
Enhancing commitment to the company by ensuring equal opportunity in career opportunities and rewards,
Maintaining workplace harmony and continuity,
Ensuring that the physical working environment and conditions are healthy and safe for all employees,
Creating and maintaining a working environment that encourages transparency, mutual respect, cooperation, and solidarity,
Not tolerating discrimination based on language, race, color, gender, political opinion, belief, religion, sect, age, physical disability, or similar reasons,
Not allowing any form of physical, sexual, or psychological harassment in the workplace,
Not tolerating systematic and planned behaviors aimed at discouraging, reducing performance, or forcing resignation through psychological harassment (mobbing),
Considering, responding to, and taking motivational measures regarding employees’ opinions and suggestions,
Not sharing employees’ private information with third parties without their permission and knowledge, except for legal obligations,
Respecting employees’ private and family life and personal space,
Being respectful to human rights.
Responsibilities Towards Laws and the State
Conducting all domestic and international operations and activities in accordance with the laws of the Republic of Türkiye and international law,
Submitting accurate, complete, and understandable information to legal regulatory bodies and authorities in a timely manner,
Maintaining equal distance from all public institutions, organizations, administrative bodies, non-governmental organizations, and political parties without expecting any benefit, and fulfilling obligations with this sense of responsibility.
Responsibilities Towards Customers
Creating value for customers, responding to their demands and needs as quickly and accurately as possible,
Providing quality products and services,
Building a long-term relationship of trust with customers,
Increasing customer satisfaction during and after the sales process,
Approaching customers with respect and courtesy,
Avoiding misleading or incomplete information to customers,
Protecting customers’ confidential information diligently.
Responsibilities Towards Suppliers and Dealers
Creating mutual value in relations with suppliers and dealers,
Protecting confidential information of individuals and organizations with whom we conduct business.
Responsibilities Towards Competitors
Competing effectively only in legal and ethical areas and avoiding unfair competition,
Not engaging in discussions or exchanging information with competitors aimed at jointly determining market and/or competition conditions.
Responsibilities Towards Society
Acting responsibly as a good corporate citizen, taking a leading role in social matters, and participating in activities that support economic and social development for public benefit,
Being sensitive to the traditions and cultures of Türkiye and the countries where we carry out international projects,
Acting in accordance with the Labor Law and the International Labour Organization (ILO) conventions signed by the Republic of Türkiye on the prohibition of child labor, and ensuring suppliers’ compliance with the relevant legislation,
Not giving or accepting bribes or gifts/services exceeding reasonable value.
Responsibilities Towards the Environment and Human Health
Carrying out all our activities and investments in harmony with the environment, evaluating them in terms of sustainable use of natural resources and minimizing potential negative environmental impacts,
Acting in accordance with environmental legislation, protecting nature, developing innovative solutions to continuously improve environmental performance, increasing recycling, and working to ensure efficient use of energy and materials,
Raising awareness among employees and contractors by providing training on environmental matters,
Complying with all occupational health and safety laws and standards in our operations,
Applying “Risk Management” principles to create a safe and healthy work environment,
Ensuring and requiring the use of adequate protective equipment and the implementation of safety measures,
Emphasizing that following company policies and regulations regarding workplace health and safety is a key responsibility for all employees.
OUR ETHICAL RULES AND WORKING PRINCIPLES
Ethical rules and working principles define the basic guidelines on how we should behave and conduct our business. Compliance with these rules is a primary responsibility for all employees. In this respect, ERACO employees are expected to adhere to the following:
Honesty
In all our business processes and relationships, truthfulness and honesty are our primary values. We expect all our relationships with employees and stakeholders to be conducted with integrity and honesty.
Avoiding Conflicts of Interest
A conflict of interest is a situation where a person or institution has the potential to obtain personal or institutional benefits by improperly using their position.
ERACO employees must fully comply with the principles outlined below regarding situations that may create conflicts of interest:
Employees must not engage in any business relationship, whether for profit or not, that provides mutual or unilateral benefits with family members, friends, or other third parties. For example, an employee with purchasing authority should avoid doing business with a supplier where a family member works. Exceptions require the knowledge and approval of the General Manager. Likewise, employees should be cautious about potential conflicts arising from close family members working for competitors.
Employees must not work for another person and/or organization, whether paid or otherwise, during or outside of working hours, in a manner that would require them to be classified as a “trader” or “craftsman,” unless it meets the conditions outlined below and is approved in writing by the General Manager:
No conflict with their duties at the company or company practices,
No inconsistency with other business ethics rules and supporting policies,
No negative impact on their duties at the company.
Positions such as arbitration, mediation, and expert witness assigned by judicial and administrative authorities are exempt from these restrictions.
Without the General Manager’s approval, employees cannot take roles in companies that are competitors or have business relations with the company. They may work in non-profit organizations and universities for social responsibility and charity purposes with written approval from management, provided these do not interfere with their company duties.
Hiring decisions cannot include spouses, close relatives, or their relatives of managers authorized to make such decisions.
Employees may give speeches, write professional articles, or engage in similar activities on topics unrelated to the company and not against company policies. The use of the company name in such activities requires the General Manager’s approval.
Employees may provide personal donations or assistance and take roles in charitable organizations but should avoid using the company name or position when joining clubs, associations, or cooperatives.
Employees must ensure that personal investments do not create conflicts of interest with the company.
If employees learn that relatives hold shares or financial interests in another company with which the company has a business relationship, they must inform their immediate supervisor.
At ERACO, employees related by marriage or blood up to the third degree (including in-laws) should not be in a direct reporting relationship or decision-making mechanism together. For management and higher positions, such relationships should also be avoided across different organizational units.
Employees must use company resources properly, manage their time effectively during working hours, and avoid personal activities during work hours. Managers must not assign employees personal tasks. Personal visitors should not be received during working hours, except in necessary cases, and such visits should be short and business-related.
Employees cannot engage in private business relationships, borrow or lend money or goods/services with customers, subcontractors, suppliers, or others with whom the company has business relations.
In relations with customers, even if in the customer’s favor, no transactions should be made without customer knowledge, no exploitation of customer vulnerabilities should occur, and no profit should be sought by giving incomplete or false information.
Relations with the media must comply with the Company Communication Protocol.
Giving interviews, making statements, or participating in events such as seminars or conferences as a speaker requires General Manager approval. No personal gain may be obtained from such activities.
Participation in Representation and Organizational Invitations
Participation in events organized by individuals or institutions with whom we have or may have business relationships—such as sports activities, domestic/overseas trips, or similar—requires General Manager approval unless they are open to general participation, such as conferences, receptions, promotional events, or seminars.
Receiving and Giving Gifts
Employees must not request or accept gifts, benefits, hospitality, special discounts, commissions, or rebates that could influence their impartiality, decisions, or behavior for their own benefit. Any gifts from business contacts must be delivered to the Human Resources Department, which, with upper management approval, determines their handling.
Employees must not accept cash or cash-equivalent gifts, regardless of value, or borrow money from suppliers, consultants, competitors, or customers.
Within reasonable limits, business entertainment and meals are acceptable. In events such as seminars attended on behalf of the company, symbolic souvenirs, plaques, or similar non-monetary items may be accepted.
Employees may not give gifts to business contacts other than promotional items approved by the General Manager. Bribes and/or commissions, whether given, received, or offered, are unacceptable under any circumstances.
Doing Business with Former Employees
Former ERACO employees may only conduct business with ERACO as vendors, contractors, consultants, brokers, representatives, dealers, or in similar capacities if there is no conflict of interest arising from their previous roles. A report prepared by the relevant unit manager and approved by the General Manager is required.
Information Management
Employees must:
Ensure timely legal action is taken to secure intellectual property rights for newly developed products, processes, and software,
Avoid knowingly using patents, copyrights, trade secrets, trademarks, computer programs, or other intellectual and industrial property rights of other companies without authorization,
Ensure all legal records are accurate and complete,
Not respond to confidential information requests from third parties without upper management approval,
Take care to ensure company statements and reports are truthful.
Protection of Confidential Information
Confidential information includes—but is not limited to—ERACO intellectual property and innovations, databases, printed materials, business processes, advertisements, product packaging and labels, business plans (marketing, product, technical), strategies, partnerships, financial information, employee records, customer lists, pricing, product designs, know-how, specifications, and identity information of potential and actual customers and suppliers.
It also includes any information that could create a competitive disadvantage for ERACO and its affiliates, trade secrets, non-public financial or other data, personal data of employees, customers, and stakeholders, as well as information protected under confidentiality agreements with third parties.
ERACO pays particular attention to protecting the privacy and personal data of customers, employees, and business partners. Employees must fully comply with the following principles regarding confidential information.
